Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

How Much Does Your Christmas Shipping On Your Credit Card Really Cost?

Personal_Finance / Credit Cards & Scoring Nov 15, 2007 - 01:00 AM GMT

By: Nationwide

Personal_Finance

Half of credit card holders do not know the rate they pay

With Christmas around the corner people are getting ready for one of the most expensive and stressful times of the year. A new survey by Nationwide Building Society has revealed that the majority of respondents (55%) still brave busy shopping centres to buy most of their Christmas gifts rather than shopping online. In addition to this the research shows that half (50%) of respondents do not know what rate they pay on the credit card they use most often.


Nationwide’s survey also found that:

  • women tend to spend more than men when shopping at Christmas, with the majority of women spending between £250 and £499 in total on presents compared to men who spend between £100 and £249.
  • overall, people spend most money on their children (47%) however men tend to spend most on their partner (47%).
  • around one in five (22%) women have not received a present from their partner in the past compared to only 15% of men.

When it comes to finances at Christmas nearly three-quarters use a credit card for their Christmas shopping. Nationwide’s survey also found that:

  • a third (33%) of respondents incur an interest charge on their credit card due to not paying it off straight away.
  • more men (51%) than women (39%) clear their credit card bill straight away.
  • the older people are the more likely they are to clear their credit card bill each month.

Unsurprisingly, men are more likely to hit the shops at the last minute, with double the amount of men (37%) than women (18%) not beginning their Christmas shopping until December.

Nationwide’s advice to consumers is to shop around for the best credit card deal before starting their Christmas shopping. Nationwide’s Classic and Gold credit cards offer a three month 0% introductory offer on new purchases, meaning that customers would have no further interest charges whilst they shop over the Christmas period. Nationwide also offers free extended warranty to all its credit card customers on many electrical goods which can be useful for people buying new TVs and DVDs this Christmas.

Jeremy Wood, divisional director at Nationwide , said: “With the majority of people using credit cards to make Christmas purchases, and half of them unaware of what interest rate they are incurring, consumers could be paying over the odds this Christmas. By taking a Nationwide credit card, shoppers benefit from lower interest rates and 0% introductory offers on purchases and balance transfers, which could help them to enter the New Year without incurring extra interest charges.”

Notes :

Research conducted among a random sample of over 1200 respondents online, by Tickbox.net October 2007.

Nationwide’s credit card includes the following features:

  • three month 0% introductory offer on new purchases (Gold and Classic Cards);
  • ten month 0% introductory offer on balance transfers (Gold and Classic Cards);
  • commission free purchases abroad;
  • up to 56 days interest-free credit;
  • free purchase cover for loss, theft or damage to most purchases over £50;
  • free 12 month extended warranty on selected gas and electrical goods costing over £50 that have a manufacturer’s warranty of up to two years;
  • peace of mind for all cardholders with Nationwide Fraud Watch;
  • typical 15.9% APR variable (Gold Card);
  • typical 17.9% APR variable (Classic Card);
  • positive order of payments – which means Nationwide ensures that the most expensive debt is paid off first when a credit to the account is made, unlike many other card providers.

Balance transfers at 0% must be made within 3 months from account opening and are subject to a fee of 2.5% (minimum £2.50).

A Gold card is most likely to be suitable if you are aged 25 or over, have an annual income of £25,000 or more, and have an excellent credit history. Alternatively a Classic credit card may be offered.

http://www.nationwide.co.uk/


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in