Follow this topicTop credit cards for Christmas shopping
Check out the best festive flexible friends to cover all your Christmas shopping costs.
At this time of year, you’re probably thinking a lot more about greetings cards than credit cards. But if the festive season is going to hit you in the pocket this year, we're going to show you how you can spread the cost and earn a little extra back on your Christmas shopping.
Put Christmas on a card
If you haven’t managed to put by enough money for Christmas, or you don’t want to dip into your savings, did you know you could spread the costs with a 0% on purchases credit card? The most competitive cards give you more than a year of interest-free credit, hopefully giving you plenty of time to pay off your balance.
But, before we look at the best buys, here’s a word of warning: don’t forget to pay the minimum repayment every month or you’ll risk losing the 0% promotional rate. And try your best to pay off the card balance in full before the introductory period disappears or the far higher typical APR will kick in. If you don't think you'll manage that, make a note in the diary that you'll need to transfer the remaining balance to a 0% balance transfer card at that point.
The table below shows the current tops deals for 0% on purchases credit cards:
Top interest-free purchase credit cards for your Christmas shopping
|
Credit card |
0% introductory period |
Typical APR |
Extra benefits |
|
16 months |
16.9% |
Collect Clubcard points on all of your spending |
|
|
15 months |
15.9% |
Earn M&S points on all your spending.. No cash advance or foreign exchange fees if you use your card to buy travel money from M&S |
|
|
15 months |
17.9% |
|
|
|
14 months |
18.9% |
|
Compare more 0% purchase credit cards
0% balance transfers
Alternatively, you might want to do all of your spending on your existing card and then move that debt onto a new card offering 0% interest on balance transfers.
The top cards in this area offer an even longer period before interest is charged on your debt, though you will have to pay a balance transfer fee.
Below are the cards offering the longest 0% periods on balance transfers:
Top interest-free balance transfer credit cards for your Christmas shopping
|
Card |
0% balance transfer period |
Balance transfer fee |
Typical APR |
|
24 months |
2.8% (£30 refund on transfers of £2,000+) |
17.9% |
|
|
23 months |
2.6% + £30 refund on transfers of £2,000+ |
17.9% |
|
|
23 months |
3.5% |
17.9% |
|
|
23 months |
3.5% |
17.9% |
|
| MBNA Platinum | 22 months | 2.85% | 16.9% |
|
22 months |
2.9% |
16.9% |
|
|
22 months |
3% |
18.9% |
|
|
22 months |
3.2% |
17.9% |
|
|
22 months |
3.2% |
17.9% |
Note that you can pay less in balance transfer fees if you take out a card with a slightly shorter interest-free period.
Compare more 0% balance transfer credit cards
Earning cashback on your Christmas shopping
If you reckon you can clear your bills in full and won’t need to make use of a 0% period, then why not go for a cashback credit card? You’ll be rewarded for your spending with cold, hard cash!
For a full guide, check out The best cashback credit cards, but we’ve highlighted some of our favourites below.
|
Card |
Introductory cashback offer |
Cashback rate thereafter |
Typical APR |
|
5% on all spending in the first three months (capped at £100) |
Rate of between 0.5% and 1.25%, depending on how much you spend |
19.9% |
|
|
5% on all spending in first three months (capped at £100) |
Rate of between 0.5% and 1.25%, depending on how much you spend |
19.9% |
|
|
6% cashback in the first three months (capped at £120) |
2% cashback on top five monthly purchases, 0.5% on everything else. Doubles to 4% in your anniversary month. £24 annual fee. |
24.6% |
|
|
3% at petrol stations and on National Rail travel, 2% at department stores, 1% at supermarkets. |
Same as introductory offer. £24 annual fee. |
22.8% |
|
|
5% on shopping at Sainsbury’s for the first three months. £5 cashback each month you spend £250 at Sainsbury’s and £250 elsewhere. |
£5 cashback each month you spend £250 at Sainsbury’s and £250 elsewhere. |
17.9% |
This is a lovemoney.com classic article that has been updated
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