Which credit cards are best for Christmas?
If you're thinking of funding Christmas on a credit card, which credit card should you choose? The good news is that if you're thinking about this now, you'll have plenty of time to get through the application process.
If you don't plan to pay the card off in full, rule store cards out first. They are almost always very poor value, which is why they need to offer big incentives to sign customers up.
If you don't plan to pay the card off in full, rule store cards out first. They are almost always very poor value, which is why they need to offer big incentives to sign customers up.
0% on purchases cards allow you to borrow money interest free for a period of time. 0% balance transfer cards let you transfer an existing credit card debt in return for paying a fee. Check TheRateTart credit card guide for a more detailed explanation.
But make sure you know what you're getting into. If you borrow money on a credit card and don't pay back in the interest free period you are likely to pay far more than you would for a bank loan.
And if you do pay off some of the debt early, expect that the debt that you pay most money on (the highest APR), is the part of the debt you pay off last.
Added : Monday 4th February 2008 19:20
