Consumers are being warned to take care with their Christmas spending this year, as new findings reveal more than 50 per cent of Brits are using credit cards to fund the festive season.

Consumers warned over Christmas credit card spending

According to uSwitch.com, more than half of shoppers have turned to credit cards to pay for their gifts, and the average debt they will run up over Christmas is £448.

That will leave many with a new year debt hangover that can easily spiral out of control.



To combat the problem of a rapidly increasing credit card bill, financial experts are warning consumers to play their cards right by taking advantage of zero per cent offers and careful balance transfer planning.

Some of the best deals on offer, according to MoneyFacts.co.uk, are Tesco Bank, which is currently offering zero per cent on purchases for 16 months, while a card with either M&S or the Halifax will give you the same deal for 15 months.

And for those that haven't paid off the balance within that zero per cent introductory period, transferring the remaining balance will allow consumers more time to get rid of their festive debt.

Michael Ossei, from uSwitch.com, told the Daily Express: "The last thing people want to do is scrimp at Christmas but it's easy to get carried away and spend more than you meant to... This will mean starting the new year in even more debt."

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He added: "It's important to choose the right card to suit your spending needs. This will ensure you don't get caught out by high interest rates.

"Consider cards which offer zero per cent on purchases, as these can give you some breathing space and help you avoid a New Year financial hangover, by giving you the time to save the cash to clear the balance while avoiding interest charges."

Have you turned to credit cards to fund your seasonal spending, or are you doing without this Christmas? Leave your comments below...