Pre-Christmas Sales and Credit Card Offers Make the Holidays Bright

In these cases, you may opt to use credit cards to finance larger purchases. Even if you pay off the balance in a few months, however, the interest charges may end up costing you more than you saved by purchasing the items on sale.

Fortunately, the Christmas shopping season offers more than good sale prices - it’s also a good time of year to find more attractive credit card offers.

If you’re planning to make big ticket purchases this holiday season, don’t spend more money than you need to by charging it to the same old credit card you’ve been using for years. Instead consider applying for a new credit card with 0% interest on new purchases (like the Woolworth’s Everyday Money Credit Card), or take advantage of credit card offers with generous grace periods (like the Aussie Credit Card and its 55 days interest free credit policy on purchases).

In addition to offers for new credit cards with great rates, there are other things you can do to save money without having to pass up sales on holiday gifts. For example, you can take advantage of:

1. Manufacturer Financing – Some companies (such as computer manufacturers) offer their own lines of credit for large purchases, sometimes with low interest or delayed payments (such as no payments due for several months).

2. Store Credit Cards – Some retailers offer their own credit cards that can be used solely for merchandise in their stores. While these cards are often known for high interest rates, they also commonly come with a significant discount on your initial purchase when you’re approved – if you plan to pay off the balance quickly, the extra up-front discount could make up for all or most of the interest accrued. These cards also often give you further discounts throughout the year with special sales and coupons available only to cardholders.

3. Balance Transfers – If you already have a card with a low interest rate on purchases, but you’re near its limit, consider a balance transfer – move the balance from that card to a new credit card with 0% interest on balance transfers, and take advantage of the low purchase interest rates on your existing card.

Don’t let a the fear of high interest rates stop you from taking advantage of great deals this holiday shopping season – get the best credit card offers for your purchasing needs, and you may actually save money and earn rewards in the process.

Article correct at its author date: December 2008. Copyright Virtual Office Space, Any unauthorised reproduction of this article will be prosecuted to the full extent of the law. Credit Cards Australia.

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