Festive credit card debt consolidation tips offered by Credit Action

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Festive credit card debt consolidation tips offered by Credit Action

Tue 21st Dec 2010

Credit Action has offered consumers a few recommendations on how they can minimise their credit card debt over the Christmas period.

Joanna Parsley, associate director at the money education charity, advised people to shop around to make sure the account they use to borrow cash gives them the cheapest deal on the market.

She also urged shoppers to pay back the money as soon as possible, since this will ensure as little as possible is spent on interest.

Ms Parsley accepted that the festive season can be a very expensive time for everyone, but added: "We would urge everyone to re-think Christmas - write a list of all the items you will be buying and see where you can make savings."

Research by The Salary Gap indicated that 11 per cent of adults in the UK will spend more money during the holidays than they can actually afford, with the public in general increasing their typical monthly outgoings by an average of 65 per cent as a result of the seasonal celebrations.

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