TIPS TO PREPARE FOR THE HOLIDAYS WHEN USING OR APPLYING FOR CREDIT CARDS
How many of us get excited for the Holiday season? I know that I’ve gotten into the
holiday spirit way more lately because of all the yearly traditions and activities my wife
plans for with the kids and other family members. However, I like to plan and prepare on
the monetary side of things because a lot of the holidays revolve around shopping
which entails the spending of money and usage of credit cards.
Now with Thanksgiving literally right around the corner, the advertising behind Black
Friday is huge. I personally feel this is the time we’re tempted the most to break out the
credit cards in order to take advantage of the great deals and to purchase all of our
Holiday gifts. This tends to happen to so many of us, so I feel it’s part of my duty as a
professional in the credit repair field to provide you with valuable information on how to
go about using your credit cards this holiday season.
1.) Budget all of your holiday spending before making your first shopping trip. I know
this can be hard at times because I know for me as a parent I tend to feel the
pressure of outdoing every previous year, but remember that you don’t need to
break the bank in order to make it a memorable holiday season. Last thing you
want is to spend money that you actually do not have.
2.) Speak to a customer service representative to learn more on how your credit
card can make your holiday budget go further. Remember that most credit cards
have additional benefits or rewards especially for purchases made during Black
Friday and/or Cyber Monday.
3.) Stay on top of all your credit card charges and balances. You want to make sure
there isn’t any unauthorized charges being done, but in the case that there is
make sure to report them immediately. Also, being aware of your balance helps
you stay within your budget; in other words it helps you stay on check.
4.) Try to avoid opening new retail store accounts. During the holidays, nearly every
major retailer will ask you if you’d like to get their credit card and earn a
percentage off of your purchase. Although this may save you some money at the
time; don’t be tempted. Remember that every time you accept, your credit must
be run which will result in an inquiry, and cause your scores to drop to an extent.
5.) Know your interest rates! Last thing you want is to use a credit card with high
interest rates because you will be paying way more than what’s relative to the
principal balance. Also, if possible pay more than the minimum each month when
beginning to receive your statement.
Hope you all find this information helpful and valuable for this upcoming Holiday
season, and you can start the New Year fresh instead of with any holiday credit
card debt. Happy Holidays!!