The average Australian will fork out approximately $500 on Christmas spending, whilst carrying a typical card balance of $3,251. We’ve shown you how to make cash savings and now were bringing you expert advice on credit card savings! By switching now to a low interest rate credit card, consumers can save as much as $422.45, avoid the post Christmas debt this New Year!
by Anna McDougall, Money Maven
In a survey carried out by CreditCardFinder.com.au, 45% of Aussies plan to use a credit card to pay for their festive purchases! Consumers are being urged to take the smarter approach by switch cards and save money.
Fred Schebesta, co-Founder of credit card comparison website CreditCardFinder.com.au says, “Clearly Australians are looking for ways to cut back on Christmas spending and get more bang for their buck. Consumers should take the smart approach, check out the low interest rate offers on the market and switch now and give themselves a gift this Christmas.”
Below are some low interest rate credit cards to consider for your Christmas spending:
Fred’s top 5 tips for consumers wanting to maximise credit card payment options and avoid post-Christmas debt:
1. Avoid Long Shopping Trips
Tiredness takes over at the end of a shopping trip and you tend to stop watching the dollars because you just want to get home. Try to plan your Christmas shopping as several smaller trips.
2. Use the Lowest Interest Credit Card
If you need to use a credit card for purchasing gifts, try to use a card that has the lowest interest rate, in case you have to carry over a balance. Now is the time to switch to a low interest card.
3. Know Your Balance and Purchase Rate
Simply knowing your credit card balance and purchase rate will help you to keep track of the amount you will need to repay so that you can keep your spending in check.
4. Plan Your Repayment Budget
Try to have a repayment plan before the bills start arriving and stick to that plan.
5. Consider Shopping Online to Avoid the Bustle and Excitement
An alternative to shopping in a busy, bustling shopping centre is to shop online where you have time to select your products, and you can avoid the excitement and pressure that you experience when shopping in overcrowded stores.