Shoppers turn to plastic for everyday goods.

Feb. 8, 2011 - PRLog -- A new report indicating that more and more people are using credit cards for everyday purchases is good news for businesses that take credit cards – even for small items.

This is because having a year’s worth of credit and debit card receipts makes a business – no matter how small – eligible for an advance from Business Cash Advance.

According to the latest Post Office Consumer Credit Report, a third of credit card holders spent January relying on plastic to cover day-to-day spending. The report said more than 11.5 million people used their cards to fund daily purchases. Figures in the report indicated almost half of credit card holders used their plastic for grocery shopping.

However while personal finance experts warn this could be a sign of financial distress it can also be seen as a sensible and convenient way to pay for everyday items. And with Business Cash Advance repaid through credit and debit card receipts, this means more retail outlets will be able to take advantage of a  Business Cash Advance.

Commented Richard Morley, Business Cash Advance director, “The savvy shopper used credit cards to buy items as this gives them insurance and when paid off in full each month, this is a very wise way to use cards.

“Once we wouldn’t have dreamt of using our credit or debit cards to buy groceries or in the newsagent. Now it’s quite common. This increases the number of businesses that can make use of a Business Cash Advance as you only need 12 months of receipts in order to qualify for a business cash advance from us.

“And as we’ve seen with the retail figures out for December, while large stores, chains and shopping malls may have suffered in the snow, small shops did very well. As of course did online shopping and you need credit or debit cards to take advantage of that.”

A Business Cash Advance is unsecured and repaid through future credit and debit card receipts.