Put Christmas on credit cards with care - Credit cards - News - Moneyfacts


Put Christmas on credit cards with care

Put Christmas on credit cards with care

Category: Credit cards

Updated: 25/06/2009
First Published: 21/11/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Consumers considering paying for Christmas purchases on credit cards have been advised to ensure they can afford to do so.

Director of Creditexpert.co.uk Darryl Bowman explained that many have a tendency not to worry about spending during the holiday season, instead choosing to "pay now, worry later".

He said that these borrowers should attempt to find a product that costs them as little as possible - something a credit card comparison may achieve.

"If you do want to get into debt to fund yourself through the Christmas period, that's ok, just do it sensibly. Understand what your credit situation is," advised Mr Bowman.

Recent research by the website found that 18 per cent of people plan to put Christmas purchases on a credit card.

And while 40 per cent are planning to spend less on presents, Mr Bowman also noted that his advice would apply equally even if there was no credit.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

It’s looking to be a credit Christmas

We are now less than 70 days away from Christmas, and with 70% of people admitting they haven’t started saving yet, millions will be needing to play catch-up - and plenty planning to turn to credit for some Christmas spending relief.

Can no credit score be as damaging as a bad one?

Debt is becoming an increasing problem, which is why those who have no credit commitments often feel pretty smug about it. However, while not relying on credit is admirable, having no credit score can actually be just as damaging as having a bad one.

Know your credit score – key to better borrowing

We all know how important it is to be credit savvy. It’s the only way to make credit work, which is why it’s so concerning that so few people know their credit score – and some don’t even know how much they’re borrowing.