Christmas can be an expensive time. The BBC reported that the average cost of Christmas in Wales in 2009 was a cool £784, with a quarter of households planning to spend between £1,000 and £5,000 on their Christmas.
So, if you are looking for a cost effective way to spread the cost of Christmas, why not consider 0% purchase credit cards?
Spread the cost of Christmas with interest free credit cards
0% purchase credit cards allow you to borrow interest free. You typically benefit from a period of between 6 and 12 months where you will pay no interest on the money you spend on your credit card.
Interest free credit cards are therefore perfect if you want to spread the cost of Christmas gifts over several months. You can buy your Christmas gifts now and pay the money back over the next few months without incurring huge interest charges.
Make sure you repay your spending before the 0% period runs out
While interest free credit cards are a great way of spreading the cost of Christmas, you should be careful to ensure that you repay your balance before your 0% period runs out.
If you don’t repay your balance by the end of your interest free period you are likely to pay your card provider’s standard interest rate, which could be between 15% and 20%.
Head online to compare credit cards
When looking for interest free credit cards, the best place to search for your new card is on the internet. With dozens of 0% purchase credit cards available, it is vital that you research your options to find the best card for you.
When you compare credit cards, look for:
- The length of the 0% interest rate period
- Any charges or fees
- Whether there is a minimum limit to qualify for 0% deals (do you have to spend a minimum amount per transaction to qualify?)
