Do's and Don'ts of Credit Cards this Holiday Season

Do's and Don'ts of Credit Cards this Holiday Season

Credit card deals are aplenty during the holiday season. Each of them tempts you into thinking you can afford another credit card because they're offering such a good deal. It is this kind of thinking that consumers must be cautious of. Even some of the best-looking rewards credit card offers have a sneaky little trick hiding in the small print. For the gullible consumer, biting at any of these credit card offers can prove to be very damaging to your finances.

To help consumers avoid the perils of credit card offers, here are some do's and don'ts:

Don't use credit cards for small purchases like school supplies or a snack to munch on while shopping, just because you want to earn rewards points. $15 for a snack isn't worth paying an additional $1.8 in interest just to earn one reward point. It is better to pay for small purchases with cash.

Do usecredit cards for big ticket items such as a new flat screen TV or a new sofa on sale. But be sure to pay the items in full in as short a time as possible. Buying with 0% interest rate for an entire year is not a bad option either if you're considering purchasing big ticket items.

Don't be too quick to apply for a new credit card just because it says it has a 0% interest rate on transfers. A credit card balance transfer can be tricky and the 0% offer might only apply to the transfer of debt and not to the amount owing on the new credit card you are transferring it to. If the 0% does actually apply to the amount you have on the new credit card, it may have an expiration date for when when this 0% interest ends, the remaining balance is loaded up with a staggering amount of interest.

Do choose carefully the credit card you select to do a balance transfer to. It should clearly indicate the fees involved in the transfer, the interest rate on monthly payments, any expiration dates, and any annual fees.

Don't apply for new credit cards just because they say "low interest rate" on the flyer. These low rates are generally just introductory rates. When the date expires, the interest rate can turn out to be higher than other credit cards plus it might also have hidden fees.

Do find contentment with your existing credit cards. The key is using them properly by not exceeding the credit limit and paying the credit card bill on time, every time.

Consumers must be cautious not to fall victim to enticing credit card offers that are always on offer during the expensive Christmas holiday season.

POST COMMENT

Need to know On Bad Credit score Mortgage loan Mortgage refinance Produced Simple Credit Card Truth | Debt Settlement How To What Can Secured Credit Cards Do For Me? Credit Card Applications Advices Erase Bad Debt - Why Credit Card Debt Settlements Are Expected To Increase How To Recieve A Guarantor Loan With Bad Credit Credit Card Settlement Act - Why Credit Card Companies Are Making More Deals Erase Bad Credit Card Debt - Why It's Easier To Negotiate And Settle Bad Credit Debt New Debt Settlement Laws - Why Credit Card Debt Is Now Easier To Settle Erase Bad Credit Card Debt - How To Get The Best Debt Settlement Offer Legitimate Personal Loans for People With Bad Credit - Get $10K Loan From Reputable Private Lenders Discover All About Authentic Credit Card Debt Elimination Boosting Small Ventures With Sufficient Credit