11 December 2008
A new credit card has been launched by Saga that allows consumers to clear their most expensive debts first and avoid paying higher amounts of interest.
The Saga Platinum card offers 0% on balance transfers and purchases for the first six months and has a typical rate of 15.9% APR variable.
It is hoped that the card will appeal to Christmas shoppers who want to spread the cost of the festive season by making manageable monthly payments.
After interest and fees, the most expensive debt is cleared from the card first. This is unlike many other credit cards, which pay off the amounts that attract the lowest interest rate first, Saga claims.
Andrew Goodsell, Chief Executive of the company, said: "Consumers need reassurance this year and we are proud to offer a credit card which gives people the confidence that their payments will be managed fairly."
American Express claimed recently that by taking out cashback credit cards, consumers could boost their festive spending ready for next Christmas.
Consumers looking for a credit card to pay for their Christmas shopping could compare deals online now.