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"Consumers advised to make the most of credit cards this Christmas"

By admin | December 7th, 2008 | Credit Cards

Consumers are being advised to ensure that they make the most of credit cards this Christmas, with industry officials stating that there are a number of important things that borrowers should bear in mind if they are thinking of using a credit card over the festive season. One of the important factors that has been pointed out by industry officials is that in the current difficult financial climate consumers should resist the temptation to spend what they cannot afford to pay back just because they have a credit card and therefore they do not physically have to have cash available at the time of purchase.

Officials have also said that there are still some very competitive deals available for those with good credit, so consumers are urged to look around and find the best credit card for their needs. For example, some may benefit by taking out a 0% purchase credit card, which will enable them to spread the repayments on their Christmas spending balance over a far longer period without being charged any interest on the debt, potentially saving them a small fortune.

Some may also benefit from taking out a 0% balance transfer card and transferring any high interest balances off other credit cards in order to cut back on the amount of interest that they have to pay and save themselves money over the coming months.

Also, consumers that plan to use a credit card for their Christmas spending on things such as gifts, socialising, clothes, and entertainment but plan to repay the balance when their statement comes through could benefit from a rewards based card or cash back card, where they can get something back from the card provider for using the card.

Tags: christmas, Credit Cards

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