1.) No-interest credit cards 

If you can open a credit card with an introductory no-interest period, you can borrow the money to fund those purchases without paying a penny of interest. OE Federal offers something similar with our Visa STEEL credit card.

Nice: This option can be ideal if you have an excellent credit score and concrete plans to pay back the bill quickly. 

Naughty: Don’t go this route if you have a poor track record for paying credit card bills. You might end up carrying that balance well after the grace period ends and then getting hit with really high interest rates. 

2.) Personal loans 

Anytime you need a pile of dough, you can call 800.877.4444 or stop by OE Federal to apply for a personal loan. We’re always happy to help you! 

Nice: Our personal loans have low interest rates, which make the payback plan affordable for almost any budget. 

Naughty: If you’re already carrying a load of debt and unpaid loans, don’t take out another one just to get you through the holidays. 

3.) Skip-a-Payment 

At OE Federal, we offer you Skip-A-Pay: the option to skip a monthly loan payment to give you extra cash flow. 

Nice: When you choose Skip-A-Pay, you can pay for those presents without adding to your current debt. No high-interest bills to haunt you! 

Naughty: Skip-A-Pay makes the loan’s term one month longer. 

4.) Deferred-interest financing 

If you’re considering several large purchases at big-box stores, consider signing up for the retailers’ deferred-interest financing. Many chain stores offer customers this interest-free financing option so they can walk out with their purchase today, and pay for it tomorrow. 

Nice: Deferred-interest financing works just like an interest-free line of credit, only it’s exclusive to the store selling it. If you don’t like the idea of opening another credit card, but you need that interest-free option, this can be the perfect solution for you. 

Naughty: If you neglect to pay off your bill before the interest-free period expires, you’ll be slapped with sky-high interest fees. 

>> Whatever direction you decide to go with your holiday spending, remember we’re here to help you. If you have any questions, call 800.877.4444 or visit a local branch.