FNTN

Introduction.

As the run up to Christmas closes in is there really a way that you can make using a credit card pay for you? Unfortunately Santa Claus, or Father Christmas if you prefer, doesn’t include his own brand of special Christmas credit card - but that’s not to say that you can’t find one to match the type of spending power you’re likely to need.

Holding credit card balances.

Are you getting a good deal from your credit card this Christmas?

It’s a fact that the majority of credit card holders keep a balance of some sort on them. Of course this is not an ideal situation to be in as you are always owing at least some money to the credit card company and, if you at least don’t keep up with the minimum repayments, the interest you get charged can start to mount up leaving you with an absolutely huge bill. What you have to remember is that every time you use your credit card you are in effect taking out a small personal loan; so it’s not just the cost of whatever you buy that needs repaying, but that cost plus interest. It is therefore absolutely essential that you apply for a credit card with the lowest APR (interest rate) that you can find. If you have a good credit report, especially when applying for a new credit card, then use that as a bargaining tool with your credit card company to reduce your APR. Alternatively, if you have a high APR credit card, look for a company willing to give you a lower APR one and transfer your outstanding credit card debt.

If you regularly clear your credit card balance.

For those that can afford it the very best way to use a credit card is to buy things with it - but then always clear the balance as soon as the credit card bill comes through. If you are such a customer you should be able to negotiate a great APR, even though you rarely need to worry about it. Also, as a good credit card customer you can expect to pay no, or at least, reduced annual credit card or transfer fees that some of the credit card companies charge for.

Tweet This Post 

11 Responses to “Christmas Credit Cards”