Best of the Week
Most Popular
1. The Trump Stock Market Trap May Be Triggered - Barry_M_Ferguson
2.Why are Central Banks Buying Gold and Dumping Dollars? - Richard_Mills
3.US China War - Thucydides Trap and gold - Richard_Mills
4.Gold Price Trend Forcast to End September 2019 - Nadeem_Walayat
5.Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - Anika_Walayat
6.US Dollar Breakdown Begins, Gold Price to Bolt Higher - Jim_Willie_CB
7.INTEL (INTC) Stock Investing to Profit From AI Machine Learning Boom - Nadeem_Walayat
8.Will Google AI Kill Us? Man vs Machine Intelligence - N_Walayat
9.US Prepares for Currency War with China - Richard_Mills
10.Gold Price Epochal Breakout Will Not Be Negated by a Correction - Clive Maund
Last 7 days
This Dividend Aristocrat Is Leading the 5G Revolution - 22nd July 19
What the World Doesn’t Need Now is Lower Interest Rates - 22nd July 19
My Biggest 'Fear' For Silver - 22nd July 19
Reasons to Buy Pre-Owned Luxury Car from a Certified Dealer - 22nd July 19
Stock Market Increasing Technical Weakness - 22nd July 19
What Could The Next Gold Rally Look Like? - 22nd July 19
Stock Markets Setting Up For A Volatility Explosion – Are You Ready? - 22nd July 19
Anatomy of an Impulse Move in Gold and Silver Precious Metals - 22nd July 19
What you Really need to Know about the Stock Market - 22nd July 19
Has Next UK Financial Crisis Just Started? Bank Accounts Being Frozen - 21st July 19
Silver to Continue Lagging Gold, Will Struggle to Overcome $17 - 21st July 19
What’s With all the Weird Weather?  - 21st July 19
Halifax Stopping Customers Withdrawing Funds Online - UK Brexit Banking Crisis Starting? - 21st July 19
US House Prices Trend Forecast 2019 to 2021 - 20th July 19
MICROSOFT Cortana, Azure AI Platform Machine Intelligence Stock Investing Video - 20th July 19
Africa Rising – Population Explosion, Geopolitical and Economic Consquences - 20th July 19
Gold Mining Stocks Q2’19 Results Analysis - 20th July 19
This Is Your Last Chance to Dump Netflix Stock - 19th July 19
Gold and US Stock Mid Term Election and Decade Cycles - 19th July 19
Precious Metals Big Picture, as Silver Gets on its Horse - 19th July 19
This Technology Everyone Laughed Off Is Quietly Changing the World - 19th July 19
Green Tech Stocks To Watch - 19th July 19
Double Top In Transportation and Metals Breakout Are Key Stock Market Topping Signals - 18th July 19
AI Machine Learning PC Custom Build Specs for £2,500 - Scan Computers 3SX - 18th July 19
The Best “Pick-and-Shovel” Play for the Online Grocery Boom - 18th July 19
Is the Stock Market Rally Floating on Thin Air? - 18th July 19
Biotech Stocks With Near Term Catalysts - 18th July 19
SPX Consolidating, GBP and CAD Could be in Focus - 18th July 19
UK House Building and Population Growth Analysis - 17th July 19
Financial Crisis Stocks Bear Market Is Scary Close - 17th July 19
Want to See What's Next for the US Economy? Try This. - 17th July 19
What to do if You Blow the Trading Account - 17th July 19
Bitcoin Is Far Too Risky for Most Investors - 17th July 19
Core Inflation Rises but Fed Is Going to Cut Rates. Will Gold Gain? - 17th July 19
Boost your Trading Results - FREE eBook - 17th July 19
This Needs To Happen Before Silver Really Takes Off - 17th July 19
NASDAQ Should Reach 8031 Before Topping - 17th July 19
US Housing Market Real Terms BUY / SELL Indicator - 16th July 19
Could Trump Really Win the 2020 US Presidential Election? - 16th July 19
Gold Stocks Forming Bullish Consolidation - 16th July 19
Will Fed Easing Turn Out Like 1995 or 2007? - 16th July 19
Red Rock Entertainment Investments: Around the world in a day with Supreme Jets - 16th July 19

Market Oracle FREE Newsletter

Top AI Stocks Investing to Profit from the Machine Intelligence Mega-trend

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

6 Critical Money Making Rules