Abacus Daily Debt News

Christmas debtors ‘must move fast’

Those looking to obtain credit over the Christmas season have been advised to move quickly by a financial comparison website.

According to spokesperson for the company Andrew Hagger, those applying for new cards should be doing so now to prevent the time delay between making the application and receiving the plastic becoming a problem.

Mr Hagger suggested that debtors should consider using existing credit cards and "transfer that balance across to a zero per cent balance transfer when the statement comes in", but that this needs to be done as soon as possible.

He also noted that, when opting for zero per cent purchases cards, this may take a few weeks so it will have to be conducted "pretty quickly".

His comments come in response to statistics from moneysupermarket.com, which revealed that almost half of Britons are concerned about funding Christmas.

Of those asked, 17 per cent admitted they planned to use credit cards to carry out yuletide purchases.

By Sarah Adie