Sainsbury’s Bank has launched a new free online ‘train-inflation’ digital tool, which reveals that the average train ticket increased by 59% between 2005 and 2011, and by 16.9% between 2011 and 2016. Its ‘train-inflation’ barometer allows people to see what their new standard train ticket will be next year, and estimate how their fares have increased over the past 10 years.
Regulated rail fares in England and Wales and regulated peak-time fares in Scotland will rise by 1.9% next year. The rise is determined by July’s Retail Prices Index (RPI) inflation measure and will take effect from 2 January 2017.
New research from Sainsbury’s Bank reveals that 32% of people who commute to work by train are planning to use interest free credit cards to buy their next annual travel cards to save money. Indeed the bank, which offers a credit card with one of the longest interest free purchase periods available for 28 months, says that in 2015 it saw a 40% increase in the number of people using its credit card to buy train tickets compared to 12 months earlier.
Analysis of Sainsbury’s Bank’s credit card data reveals a huge increase in both transactions and expenditure on train travel over the past five years. From 2011 to 2015 there was a 98% rise in transactions and the total spend increased by 104%. The average transaction on train travel last year was 3% higher than in 2011.
Simon Ranson, from Sainsbury’s Bank said: “Locking in 2016’s season ticket price might even be an option for some, those who haven’t purchased one before, or whose season ticket is up for renewal in the next few days. Using an interest free credit card will mean you can lock in the price and pay it up over time.”
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