press release

Press Release - 25/11/04

SPREADING THE COST OF XMAS - MONEYNET'S TOP TEN CARDS

WITH the typical Christmas present spend now around £500, Moneynet selects best seasonal plastic to help with the extra costs.

AS Christmas shoppers draw up their present lists, Moneynet.co.uk the online financial information service today delivers its verdict on the UK's Top Ten interest free and cash back cards (see tables).

And while it might be too late for many to get their cards this side of the festive season, any spending on less competitive cards can be transferred to new plastic once the bills start rolling in come the New Year.

Likewise, shoppers who have the January sales in their sights may wish to apply for a cash-back card to squeeze even more value out of those retail bargains.

Moneynet researchers used a number of 'plus' factors to assess card ratings, and with so many hundreds of cards now offering similar deals there is not a lot to choose between those competing for the top slots.

But judicious use of zero per cent cards in particular can help spread the costs at this traditionally expensive time of year, said Moneynet chief executive Richard Brown.

"Recent research from Abbey bank found that the typical UK household will spend around £500 this Christmas.

"Assuming a monthly payment of a little over £80, a £500 Christmas debt could be cleared in 6 months, interest free if you shop around for a good introductory deal," he said.

"Stay with a standard rate card on a typical APR of 18 per cent however and you would incur interest in the region of £45 over 6 months. As more and more people choose to spread the cost of Christmas by loading up their credit cards, making sure you have the most competitive plastic is crucial."

Lender	Intro Rate	Intro Period	Typical APR (variable)
Sainsbury's Standard	0% on purchases (5.94% for lifetime of balance transfers)	12 months	15.9%
Lloyds TSB Advance	0% on balance transfers	12 months	11.9%
Halifax One Card	0% on purchases & balance transfers	9 months	9.9%
Cancer Research UK	0% on purchases & balance transfers (Donations of £20 on opening & then 25p for every £100 spent)	9 months	12.9%
Mint	0% on purchases & balance transfers	8 months	11.9%

Lender	Cashback	Typical APR (variable)
AMEX Blue	2% for the first 3 months, then 1% on every £1 spent	14.9%
Nationwide Cash Reward	1% cashback for first 6 months, then 0.5% thereafter	15.9%
Abbey Cashback offer	1% on spending above £500, 0.5% below £500	16.9%
Smile Gold Visa	0.5%	9.9%
Mint	0.5%	11.9%

PRESS ENQUIRIES

Richard Brown, Chief Executive, 0208 313 9030

David Andrews/Cathy Tully, David Andrews Media Ltd 07941 255855 / 01273 774109 / 07747196854

Consumer enquiries: info@moneynet.co.uk / www.moneynet.co.uk

Moneynet.co.uk is the UK's longest established online personal finance research and data analyst company. The company offers consumers a choice of thousands of low cost financial services products. From mortgages, personal loans to motor, home and medical insurance, credit cards, savings accounts and best buy fixed rate products, Moneynet is one of the most comprehensive online services of its kind in the UK. Founded by chief executive Richard Brown, the Moneynet brand is destined to become one of the UK's major players in consumer finance products.

A DAVID ANDREWS MEDIA LTD - RELEASE FEBRUARY 2005