Those expecting to pay for the costs of Christmas on their credit card should look to take out a zero per cent balance transfer and purchase option.
With average credit card rates resting in the double-digits, moneysupermarket.com has warned that putting presents, food and party spending on plastic can soon rack up debt, which will continue until long after the festive season is over.
Peter Harrison, credit card expert at moneysupermarket.com, said: "The majority of people with large credit card debts would be better off if they switched to one of the balance transfer deals available."
It cited Virgin's 16-month zero per cent balance transfer product as one option for those who cannot escape putting Christmas on credit cards, as well as Natwest and Royal Bank of Scotland's Platinum cards.
The website also said that many Brits will be heading abroad this Christmas, but could be left out of pocket if they do not make the right choice when taking out a credit card .
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Transfer credit card balance for cheaper Christmas
Wed, 16 Dec 2009
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