LONDON: Consumer rights organisation Which? has advised shoppers to choose the right credit card to make their purchases this Christmas as a little attention can get them interest-free deals or a cashback offer. It told people planning to use the cards to look at those that offer interest-free deals.
Which? said slight negligence on the part of the consumers can lead to payment of interest on an average at 15 per cent on credit card purchases.
The organisation pointed out that the HBOS One Visa card currently offers zero per cent interest on purchases for 12 months, while Sainsbury's Bank's Classic Visa card is offering 10 months worth of free credit. It has identified cards that offer cash back deals as Egg's Mastercard, American Express Blue, Bank of Ireland's Moneyback card, Morgan Stanley's cashback card and Yorkshire Building Society's Base Rate Tracker.
Which?, however, told the public that they should avoid defaulting payment in case they are opting for cashback as they can lose all they had earned over a year by missing a payment or even exceeding one's credit limit.
Malcolm Coles, editor, Which?, said British shoppers are going to spend a packet this Christmas and credit card companies are rubbing their hands at the thought. "But with the right card, you can get an interest-free deal or even cashback. Why not get them to give you a Christmas present for a change?"
Posted
on : Sun, 04 Dec 2005 06:45 GMT | Credit Cards News
By : Salim Patel
|
