7.8 million people will take longer than one month to clear their summer holiday credit card balances, with over 2.58 million people expecting to take six months or more to clear them according to Sainsbury’s Bank.

The bank reveals that around 20.8 million people will spend £3.24 billion on their credit cards, buying items for their summer holidays before they go. They will place a further £6.4 billion on their cards during their holidays.

For those people who anticipate that they will not be able to clear their summer holiday credit card purchases within a month, the bank is urging them to consider changing to a card that offers 0% APR such as their latest offering.

Lucy Hunter, credit card manager, Sainsbury’s Bank said: “There are many advantages to using credit cards abroad, including not having to carry around travellers cheques and your passport or large amounts of cash. They also give you the flexibility to withdraw money easily wherever you are in the world, as well as being able to use them in most shops and restaurants.

“However, not all cards are the same and it is important that the card you use offers a competitive rate of interest, especially if you don’t anticipate clearing your balance at the end of each month.”

The bank’s research reveals that more than 3.9 million people will spend over £500 on their credit cards whilst on their summer holiday, with 1.5 million spending over £1,000.

Men intend to spend 48% more on their credit cards than women (£264 compared to £178), and on a regional basis London will see the biggest amount of credit card summer holiday expenditure and Scotland the smallest. However, Scottish credit cardholders will take the longest to clear their balances.