Brits should not depend upon store cards to help them buy gifts this Christmas as many companies are putting their interest rates up, it has been claimed.
Instead, people are advised to plan ahead and put money aside ready for the festive season so they do not get a shock in January, money website Fool.co.uk says.
Furthermore, it is likely that putting purchases into store cards will be more difficult this year compared to previous seasons.
David Kuo, head of personal finance at Fool.co.uk, said: "If you went into the stores and you thought: 'I want to buy something', you immediately applied for a store card and that was available to you - that is going to be increasingly difficult this Christmas."
Research by Norwich and Peterborough building society found that 38 per cent of people polled expected to spend around £500 this Christmas, while 36 per cent anticipated that it would cost between £500 and £1,000.
Looking for a cheap loan? Fill in our short quote form and compare loans from a panel of lenders. |
0 comments
