Financial industry experts have said that now is the last chance for consumers who are looking for a low rate credit card to pay for their Christmas purchases, and is urging those that are planning to use credit cards to take action now before it is too late. With Christmas around the corner now, many people who want a credit card will have started the ball rolling, which means that credit card firms will have a lot of applications to get through.
Officials have said that if consumers want to make sure that they are approved and receive their credit cards in time for Christmas shopping they need to take action right away. This also gives them the chance to find out whether they are going to be approved at all and if they do not get approval it gives them time to look at alternative funding methods for the festive season.
Consumers are urged to remember that credit card firms will need to time to assess the application, make a decision, send out credit agreements and forms, send out the credit card, and then send out the PIN, all of which can take time, especially with the slowdown in the postal service over the Christmas period.
One financial expert said that the earlier consumers got the ball rolling, the better it would be for them, as they reduced the chances of not getting their card on time.
He stated: “It’s vital that you compare credit cards to find the right one for you rather than just choosing one by the application deadline. However, with potential postal delays and increases in demand we recommend that you apply for your chosen credit card as soon as possible if you want to use it this Christmas.”