Consider your options for your Christmas spending

If you are going to take several months or more to pay off your Christmas spending, it may be better to use a card with no interest-free period but a lower interest rate says Credit Union Australia acting chief executive, Rob Nicholls. Asking your card provider to reduce your credit limit is another way to limit Christmas spending says Nicholls. GE Money Australia chief executive, Mike Cutter, says consumers should weigh up the likely costs before signing up to store interest free deals. He says you should take into account any establishment and monthly account fees as well as the interest rate.

Source: Sydney Morning Herald