Christmas is now little more than two months away, which means if you haven't yet decided how you'll cover the cost, now's the time to get thinking. Ideally you'll be well on your way to building up a suitable savings pot, but if it isn't up to scratch, you may need another option – and the right credit card could be invaluable.
Now, we're not advocating that you borrow money to pay for Christmas, particularly if you don't have a plan in place to repay the balance, because you certainly don't want to get into debt just for the sake of the festive period. What we are saying, however, is that a few simple tricks could help you cover the cost, provided you go about it the right way.
A great way to help pay for Christmas – or perhaps treat yourself to something later down the line – is to open a reward credit card. These cards typically give you points for every spend, which can quickly add up and then be transferred into rewards of monetary value; you may want to build up Avios for air travel or cashback for wide-ranging benefit, but if you're thinking about the festive spend, a card linked to your favourite retailer could be ideal.
As an added bonus, a lot of these reward credit cards also offer generous interest-free offers on purchases – the top deal below is also the best 0% purchase credit card currently available, as you'll see in our Best Buys – which means you can spread the cost of your purchases and rack up rewards at the same time. It's a win-win!
If you want to be rewarded for your festive spending, or just want to spread the cost of Christmas, the right credit card could be a great way to pay – and if you start now, you may even be able to accumulate enough reward points to help with the big Christmas shop (subject to terms, as some providers only let you transfer points into vouchers at certain times). If you've already got this kind of credit card, it'll be worth checking the points balance, as you may have enough to help cover the cost in the months ahead.
The rule of thumb with these cards though is to make sure you repay the balance as soon as the statement arrives (unless you've got a 0% interest period on purchases, as a lot of these top deals do) to prevent interest kicking in and wiping out the benefit of any rewards. Even if you've got a 0% term, you'll want to make absolutely certain you can pay the balance off before the interest-free period ends, and that usually means you'll need to be making far more than the minimum repayment.
You'll want to make sure that your credit score is up to scratch, too, ensuring you'll be offered the best possible deals. If it is, and you're confident you can repay the balance, now's the time to get searching – if you apply now, you could have your card just in time for the big Christmas rush.
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