3 Tips When it Comes to Holiday Credit Card Offers

Each year, credit card agencies, retailers and even a few local businesses offer discounted rates on purchases in anticipation of holiday spending. 2014 Christmas shopping season is already underway. At our local Cracker Barrel we have gone straight from Independence Day and summer themed decor to Christmas toys and attire. Christmas is 3 month away, slow your roll CB!

With one of the biggest spending seasons coming our way, what can you do to maximize your dollars? Here are three key tips for getting more gifts for your coins.

1. Do Your Research: Plan where you’ll Buy

Each retailer will have some type of discount program for new sign ups or in-store credit. Compare the deals and set a budget to keep you on target. Retailers like Kohls will often offer 5-20% off when you sign up for a Kohl’s card. Take the deal but pay off the balance immediately. This will help you save money, get the gifts you need and improve your credit.

2. Buy Now, Pay Later Scams

Keep an eye out for online deals that allow you to buy now but pay later. Only use these services if the service is provided by a credible escrow agency like PayPal. The danger is that these scams will end up charging 20-30% interest on the purchase. Meaning that $20 shirt for your mom will cost you $50 when it’s all said and done!

3. Don’t Borrow to Buy

Loans are not ideal for holiday spending. Going into debt to make the season bright is an illusion. Payday loans are short-term solutions that only work if they’re short term. Credit is a better solution if you find yourself in need of a little holiday spending cash.

If you haven’t started saving for the holidays, now is the time! Be wise and plan your spending now so that you don’t spend the holidays worrying about how you’ll pay off all the gifts your kids just opened. Enjoy the holidays through smart spending and intelligent credit use.

About Kevin Williams

Kevin works as a independent consultant, helping people improve their financial situations. The author has a BS and Masters along with years of experience with credit cards, techniques for improving individual credit and life.

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