Most Popular
1. THE INFLATION MONSTER is Forecasting RECESSION - Nadeem_Walayat
2.Why APPLE Could CRASH the Stock Market! - Nadeem_Walayat
3.The Stocks Stealth BEAR Market - Nadeem_Walayat
4.Inflation, Commodities and Interest Rates : Paradigm Shifts in Macrotrends - Rambus_Chartology
5.Stock Market in the Eye of the Storm, Visualising AI Tech Stocks Buying Levels - Nadeem_Walayat
6.AI Tech Stocks Earnings BloodBath Buying Opportunity - Nadeem_Walayat
7.PPT HALTS STOCK MARKET CRASH ahead of Fed May Interest Rate Hike Meeting - Nadeem_Walayat
8.50 Small Cap Growth Stocks Analysis to CAPITALISE on the Stock Market Inflation -Nadeem_Walayat
9.WE HAVE NO CHOICE BUT TO INVEST IN STOCKS AND HOUSING MARKET - Nadeem_Walayat
10.Apple and Microsoft Nuts Are About to CRACK and Send Stock Market Sharply Lower - Nadeem_Walayat
Last 7 days
Is the US Yield Curve Inversion Broken? - 3rd July 22
New Signs Economic Turmoil Will Prompt Fed to Lose Its Nerve - 3rd July 22
Stagflation With Powell Could Make Gold Price Happy - 3rd July 22
UK Housing Market Analysis, Trend Forecast 2022 to 2025 - Part 2 - 30th June 22
Stock Market Turning the Screws - 30th June 22
How to Ignore Stocks (and why you should) - 30th June 22
Top Tips For Getting The Correct Insurance Option For Your Needs - 30th June 22
Central Banks Plan To Buy More Gold In 2022 - 30th June 22
AI Tech Stock PORTFOLIO NAME OF THE GAME - 29th June 22
Rebounding Crude Oil Gets Far Away from the Bearish Side - 29th June 22
UK House Prices - Lets Get Jiggy With UK INTEREST RATES - 28th June 22
GOLD STOCKS ARE WORSE THAN GOLD - 28th June 22
This “Bizarre” Chart is Wrecking the Stock Market - 28th June 22
Recession Question Answered - 28th June 22
Technical Analysis: Why You Should Expect a Popularity Surge - 28th June 22
Have US Bonds Bottomed? - 27th June 22
Gold Junior Miners: A Bearish Push Is Coming to Move Them Lower - 27th June 22
Stock Market Watching Out - 27th June 22
The NEXT BIG EMPIRE WILL BE..... CANZUK - 25th June 22
Who (or What) Is Really in Charge of Bitcoin's Price Swings? - 25th June 22
Crude Oil Price Forecast - Trend Breaks Downward – Rejecting The $120 Level - 25th June 22
Everyone and their Grandma is Expecting a Big Stocks Bear Market Rally - 23rd June 22
The Fed’s Hawkish Bite Left Its Mark on the S&P 500 Stocks - 23rd June 22
No Dodging the Stock Market Bullet - 23rd June 22
How To Set Up A Business To Better Manage In The Free Market - 23rd June 22
Why Are Precious Metals Considered A Good Investment? Find Out Here - 23rd June 22
UK House Prices and the Inflation Mega-trend - 22nd June 22
Sportsbook Betting Reviews: How to Choose a Sportsbook- 22nd June 22
Looking to buy Cannabis Stocks? - 22nd June 22
UK House Prices Momentum Forecast - 21st June 22
The Fed is Incompetent - Beware the Dancing Market Puppet - 21st June 22
US Economy Headed for a Hard Landing - 21st June 22
How to Invest in EU - New Opportunities Uncovered - 21st June 22
How To Protect Your Assets During Inflation - 21st June 22

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/


© 2005-2019 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