Christmas credit applicants 'should act soon'

Consumers looking to get credit to support their Christmas spending have been encouraged to act quickly by one expert.

According to Andrew Hagger of Moneynet.co.uk, people could opt to transfer their credit card balance over to a "zero per cent balance transfer card" to get credit.

However, Mr Hagger, who acts as the organisation's spokesperson, added: "If you are going to do that you really need to get the application in for that new card now - there's a time delay between getting that application in and having [the card] in your hand."

He also suggests that those seeking credit might consider applying for a purchases card at zero per cent.

Last week, survey results from PayPal showed that as many as 76 per cent of those consumers polled expect to shop on the internet for Christmas gifts.

A total of 62 per cent claim that the prospect of saving money is the most important thing to them when it comes to online retail.