RateSupermarket.ca Holiday Rewards Challenge Identifies Top Plastic
TORONTO, Dec. 23, 2013 /CNW/ - 'Tis the season for overspending - and
while gifting generously may give shoppers the warm and fuzzies,
resulting January credit card bills offer stark reality.
Holiday gift lists are often behind overspending - but a
RateSupermarket.ca poll finds food and travel expenses account for
between $500 - $1,000 in additional costs for a quarter of Canadians.
The personal finance comparison site, which offers the most
comprehensive access to the Canadian market, introduces the Holiday Rewards Challenge, an interactive tool to help consumers identify their top holiday
spending stresses - and whether their credit card is best suited to
their shopping habits. All those who use the tool will also be entered
to win a $500 cash prize to help with their holiday expenses.
"Consumers need to be forward thinking to ensure credit card debt
doesn't last well into the new year," says Penelope Graham, Editor and
Spokesperson at RateSupermarket.ca. "By carrying the wrong credit card,
Canadians could be losing out on hundreds of dollars in potential
rewards and those prone to carrying a balance are at risk of lasting
debt damage from these expenses."
Tips For A Debt-Free New Year
RateSupermarket.ca offers the following tips for consumers to clean up
their credit card act in time for Blue Monday.
Cash in rewards where it counts: Holiday feasts offer the opportunity for fat rewards with credit cards
that offer grocery cash back or points.
Plan for a better bill: Avoid Blue Monday shock with a strategy for tackling a high balance.
Credit cards that offer low balance transfer options provide interest
breaks for a limited time, allowing cardholders to pay down the
Buy gifts with cash: Stick to a no-card rule when at the mall; buying gifts with cash helps
with sticking to a predetermined budget, and wards off impulse
purchases. Think you're not prone to gifting yourself?
RateSupermarket.ca found 67 per cent of shoppers are likely to buy
gifts for themselves while checking off their shopping lists.
About RateSupermarket.ca (www.RateSupermarket.ca)
Over 3 million Canadians have found their best rate for personal finance
products on RateSupermarket.ca. Launched in 2008, RateSupermarket.ca is
Canada's largest and most comprehensive rate comparison site, offering
visitors transparent access to the best mortgage rates as well as
credit cards, bank accounts, insurance quotes and GIC rates.
Image with caption: "RateSupermarket.ca (CNW Group/RateSupermarket.ca)". Image available at: http://photos.newswire.ca/images/download/20131223_C6500_PHOTO_EN_35237.jpg
Image with caption: "Holiday Spending Infographic (CNW Group/RateSupermarket.ca)". Image available at: http://photos.newswire.ca/images/download/20131223_C6500_PHOTO_EN_35238.jpg
For further information:
p: 416-551-9445 ext 515