With the lead up to Christmas drawing ever nearer, your thoughts may have already turned to funding your festive shopping. But with all the hustle and bustle of the Christmas period, all too often money saving methods are thrown out of the window. There’s no denying that credit cards are a popular choice to help fund outgoings – but how many people actually know about the benefits credit cards offer as a comparison?
Today’s market is flooded with lenders eager for you to borrow – especially at Christmas – each clamouring to offer something different. So much so that they can all end up seeming equally as appealing. But these ‘too good to be true’ offers could actually act as a deterrent, as a growing number of people are unaware of how they can save money using credit cards. If you’re a particularly savvy spender, you’ll already know that having the right credit card could majorly benefit your savings – lenders offering significant 0% interest free periods could end up saving you lots of money in interest costs.
Interest free balance transfers
Barclaycard in particular have upped their stakes recently in the credit card world. In the run up to Christmas, they’re offering a 30 month interest free balance transfer, which could save you up to a whopping £700 in interest costs. The Sainsbury’s Nectar Card is also a fantastic contender for Christmas, offering 0% on both balance transfers and purchases for 15 months, giving you peace of mind that you can safely spread the cost of Christmas, without paying a premium.
Earn points for every £1 you spend
Other credit cards offer rewards in the form of cashback or points that can be exchanged for luxuries like hotel stays or vouchers to use at your favourite supermarkets and high street stores. Another credit card that offers some fantastic rewards is the Barclaycard Freedom Rewards Purchase – particularly great if you’ve got a big family to feed as the card gives you double points on spending at UK supermarkets, including petrol and Transport for London spending. Not only that but you can also earn 1 point per £1 on all other spending.
Peace of mind
Every year a rising number of people are turning to the convenience of online shopping as their preferred option, forgoing the endless queues that used to characterise Christmas. Whilst online shopping can offer cheaper prices and next day delivery, there’s also the risk that gifts could get lost in the post. One of the major benefits of having a credit card at this time of year, is the fact that you’re completely covered. So, if your order breaks, turns up damaged, or just doesn’t turn up at all, you’ll have complete peace of mind knowing that you can go to your credit card provider for compensation as well as the retailer.
So, this Christmas think wisely about your spending. Credit cards can offer much better benefits than your debit card. Not only can they save you money, but they also protect your purchases and can even earn you rewards in the process.