It’s spend, spend, spend for credit crunch Britons as some of our major shops and stores have slashed prices to encourage shoppers to hit the high street in the run up to Christmas. With only a few Xmas shopping days left, many Britons have now gone on a Christmas shopping bonanza, with many purposely waiting until the last minute in a bid to grab those last-minute bargains.
With rising unemployment and the current gloomy economic outlook, more and more people are choosing to pay for goods and services using their credit cards. The current credit crunch has done nothing to diminish the British love affair with credit cards. Britain is still known as the credit capital of Europe. Many Britons including myself can’t imagine life without a credit card. Balance transfer cards in particular have become increasingly popular amongst consumers. More and more people are transferring balances from one card to another, to take advantage of 0% and other great low rate deals to ensure they pay as little interest as possible. According to recent research millions of us are looking to transfer billions of pounds collectively over the next few months alone in a bid to save on interest on our existing higher interest rate credit cards. Indeed many people have already saved themselves a small fortune on interest by switching their balances and in the case of a 0% balance transfer card, repaying the total amount owed within the interest free period.
There has never been a better time to take advantage of some of the great balance transfer card deals out there. As the credit crunch bites, we have all become more choosey about our cards and want the best deals and rewards for our money to make shopping even more enjoyable.
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