How about a Christmas Credit Card?

6th November 2010  

Christmas is thundering towards us like an out of control express train and many of us are wondering if we can really afford it, or more to the point, want to. With 7 weeks to go it’s your last chance to get your hands on a Christmas Credit Card and still have time to get any benefit from it!

With everyone worried about job security, potential interest rate rises and the bumpy housing market, why not give your finances a breather and spread the cost of Christmas over next year without it costing you a penny? There are a whole range of credit cards out there designed to help you do this, it’s just down to you to compare credit cards and apply online.

Many old fashioned commentators will say that credit cards are the most expensive way to borrow money, but it’s all about taking a look at the market, thinking ‘outside the box’ and spotting financial products that you can use to your advantage without them costing you anything.

If you use your ordinary credit card to finance your Christmas shopping, you’ll be paying interest on your purchases before your Christmas decorations are back in the loft, but there’s an alternative.

I’m talking about 0% on purchases credit cards. The best deals around at the moment allow you 13 months interest free on purchases, perfect for financing your Christmas spending and paying off the money over the next year before you make a credit card comparison again ready to take advantage of the same dodge next Christmas. Here are our latest recommendations on the best purchases credit card offers.

Before applying for any new credit card, do a mini financial health check on yourself and make sure that you can afford it and that you have the right spending profile to get the best out of the deal. If you’re applying for any new credit cards, read our advice page – Will I be accepted?

Remember this loophole will only work if you stick to the terms and conditions, and use the card correctly for your purchases. Don’t for instance use a purchases credit cards to withdraw cash from an ATM as this money won’t be counted as a purchase, and you’ll end up paying the credit card issuers highest rate of interest on the cash.

If you need to make a Christmas purchase and the retailer or business doesn’t accept credit cards, don’t worry, you can take advantage of cheap credit card loans.

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