Credit card providers playing Santa just in time for Christmas

It’s estimated that Aussies will rack up over $28 billion on credit cards in December.

And credit card providers are making it more attractive to do so.

Over 9.2 million Australians are planning to hit the shops next month alone

christmas shoppingShoppers are being urged by credit card comparison website to check out the latest credit card deals before hitting the shops.

With more than $28 billion expected to be spent on plastic in December alone – $648 million more than last December – credit card providers have ramped up their promotions in time for the biggest spending season of the year.

According to, 44 cards are offering no interest for up to 15 months on purchases.

Of these 44 cards, five cards are offering 0% for 15 months and one of which has no annual fee – Coles No Annual Fee MasterCard.

Bessie Hassan, Consumer Advocate at, says shoppers should take advantage of these credit card promotions but watch the budget.

“We’ve never seen so many of these 0 percent deals, which shows that credit card providers are being more competitive than ever before in an attempt to win over new customers.

“For instance, this time last year, there were 33 cards in the database offering a promotional period for new purchases and out of those, just 20 were for no interest – just two were offering 0% for 15 months.

“It’s a great time to take advantage of these deals before you spend up on your cards. But shoppers need to remember that no interest for a period of time doesn’t mean a free ticket to blow your budget.”

A new survey by shows that while 17 percent have already done most of their Christmas shopping by now (2.7 million adults), almost one in four Australians (24 percent or 3.76 million adults) are doing their Christmas shopping in November and the remaining 59 percent will be shopping next month (over 9.2 million adults).

Most December Christmas shoppers are planning to do their gift buying in the first half of December (26 percent or 4.1 million adults), while 17 percent said they will hit the shops two weeks before Christmas (2.7 million adults), 13 percent said the week before Christmas (2 million adults), and for the last minute shoppers: 3 percent (470,000 adults) are going to leave it til Christmas Eve.

“If you spend $2,000 on Christmas this year, put it on your credit card with an average  purchase rate of 17 percent, and planned to pay it off over the next 12 months, you could save about $144 in interest by using a card with no interest on new purchases,” says Mrs Hassan.

“There is still time to plan your Christmas shopping wisely. Most cards will give you immediate approval after applying online and send you the card within two weeks.

Jump online and compare credit cards before you start your shopping and you could save a small fortune.”

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Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit

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