Friday 22nd December 2006
Sainsburys Bank has highlighted the "competitive" rate it offers for credit card balance transfers.
With no credit card balance transfer fee and a lifetime rate of 5.9 per cent for transferred debt, Sainsburys Bank is encouraging consumers to switch to its card to help cover the cost of Christmas.
Donald MacLeod, credit card manager for Sainsburys Bank, said: "Our research suggests that it could be a busy time for the shops on Christmas Eve and that a lot of people will be using their credit cards.
"A card with a long interest-free period can be a good way to spread the cost of Christmas."
New purchases remain interest-free for ten months, according to the bank, which it notes is one of the longest periods currently on offer.
Research published by Sainsburys Bank found that 454,000 people expect to do all of their gift shopping on Christmas Eve, with a further 4.48 million planning to do more than half of their buying on the same day.
Sainsburys Banks Advantage package offers a five-month interest-free period on both credit card balance transfers and new purchases, it says.
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