Credit cards for festive spree

Tue, 20 Nov 2007

According to the banking payments group APACS, British people will spend around £53 billion over the Christmas period. The group broke down their figure to include £22 billion on debit cards, and some £12 billion spent on credit cards.

More people will therefore use their debit cards to shop this Christmas, although some financial services experts are advising consumers that credit cards can actually be an advantageous way to spend, despite many charging massive annual interest rates .

For instance, experts state, credit cards have greater levels of protection for consumers, in the event that a transaction goes bad or goods are faulty. Secondly, many credit card companies offer an interest free credit period, but remember to pay your balance on time, experts advise. Some credit cards also offer cashback or charitable donations as you spend.
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