How credit cards can help with Christmas spending

How credit cards can help with Christmas spending

With Christmas rapidly approaching, consumers are starting their holiday shopping and looking for the best deals and bargains. While a majority may have a limited budget this year, due to a struggling economic state, many are choosing to purchase their holiday gifts on an interest-free basis. While most prefer to avoid financing their holiday shopping sprees on credit cards, others are making a wise choice and signing up for cards with 0% purchase options or other attractive incentives. With the right research, consumers can purchase all of the newest electronics and accessories now and pay for them over a period of months at no extra cost.

Zero percent interest credit cards have become extremely popular. With leading credit card institutions encouraging Britons to pay for their Christmas gifts on credit, there are a number of different options available. Most of these offers will intrigue the consumer to sign up for their new credit card with the premise that they will pay 0% on new purchases for a stated period of time. This introductory offer is very attractive for those who truly intend to pay purchases off within the stipulated time frame.

Other offers that have become extremely attractive are 0% balance transfers which are a perfect solution for those who have already purchased gifts on an existing card at a high interest rate. The balance can be transferred, up to a specified amount, on a new line of credit and borrowers will pay zero interest for up to 12 months depending on the card, subject to a small admin fee of around 3%.

Consumers purchasing gifts on credit also have extra protection thanks to Section 75 of the Consumer Credit Act. This act states that borrowers may file claims on institutions that breach their contract. If you are purchasing a service contract and a business closes operation, you have the right to receive your money back through a claim made to your credit card provider. Make a smart decision when purchasing holiday gifts and stay protected without paying interest.

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