Spread the cost with effective credit cards at Christmas

By Sarah Engle, Fri 2 Dec 2011 - Published in Credit Cards

With an increase in the number of people who will struggle to afford the cost of Christmas this year, those who plan to seek funding through their plastic friends have been offered advice from two financial bodies.

The Consumer Credit Counselling Service (CCCS) and the Finance and the Finance and Leasing Association (FLA) have said that shopping around for credit cards is most important.

They have advised consumers that if they can get approval on a zero per cent interest card, it means they can have a few months interest free spending, allowing them to pay back Christmas spending without accruing more debt.

However, those looking for credit should make sure they are shopping around for the best deal, and not just accepting the first card they are offered.

A recent Which? survey found that 40 per cent of Brits would need to limit themselves to a smaller budget for festive spending than last year.

Fiona Hoyle, FLA head of consumer finance, said: "Before using credit, think how you're going to pay it back, and what the best product is for you."

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