Shops gear up for Small Business Saturday
Shop 'small' and local this weekend and when you spend £10 or more on your American Express card you'll get £5 credit back.
The credit card company is urging Christmas shoppers to support their local traders tomorrow in its second Small Business Saturday event.
To benefit from the £5 credit deal, all American Express cardholders have to do is register at amexshopsmall.co.uk/register.
Although there is no comprehensive list of all participating stores available, you can find some local information at facebook.com/SmallBusinessSaturdayUK and smallbusinesssaturdayuk.com.
Thousands of stores across the country will be taking part in the day – which marks the start of the American Express Shop Small campaign, which runs until 21 December – and the grass-roots campaign is being supported by all major political parties.
Deputy Prime Minister Nick Clegg said: "Forget Black Friday and Cyber Monday. This Small Business Saturday, we get to celebrate and show our support for Britain's 5.2 million small and medium businesses. Make sure you get involved.
"Whether it's a local manufacturer, builder, florist, jeweller or bookshop, all of these companies keep our local communities going: creating jobs, driving growth and ensuring our high streets survive and succeed."
According to research from Direct Line, consumers are looking to spend an average of £24.39 tomorrow at small independent shops, while those in the East Midlands (54%) and Wales (53%) are most likely to support the day.
Some 60% of shoppers said they would buy the same product from an independent shop even if they could get it at a national retailer at a cheaper price in order to help support their local stores.
Used by the holder to buy goods and services, credit cards also have a monthly or annual spending limit, which may be raised or lowered depending on the creditworthiness of the cardholder. But unlike charge cards, borrowers aren’t forced to pay the balance off in full every month and, as long as they make a stated minimum payment, can carry a balance from one month to the next, generating compound interest. As the issuing company is effectively giving you a short-term loan, most credit cards have variable and relatively high interest rates. Allowing the interest to compound for too long may result in dire financial straits.