Only one month is left until the fever will begin. Everybody will start looking for the perfect gift, using all their credit cards, cash back credit cards and rewards credit cards, in order to spend those bonuses they gathered over the year.
Whether you’re planning to do the same this year, you should know that using your credit card smart is the best approach you can opt for!
Curious to find out more? Below you can find a short list with three of the most common credit card mistakes people make during the holiday season and how you should avoid them.
Spend money just to get those points
Sure, a rewards card is a great thing, allowing you get get some nice freebies this holiday season, but many people fall too deep into its trap. Specifically, they spend a lot, just to earn those points, putting everything on their credit card.
And the bad part is that they don’t realize that not paying their balance in full will lead to increased interest charges, outweighing all the rewards they have earned.
Forget about actually tracking tour spending
Using a credit card makes shopping easy, since you just tap or swipe and you’re all set. However, this is the perfect way to rack up a huge credit card bill without even noticing this!
Rather than just using your card until it gets rejected due to insufficient funds, take a few moments to check that growing balance. You have all kinds of apps for this, most likely, even your bank has one, so take full advantage of it, before you find yourself sinking in debt.
Forgetting to pay bills on time
Sure, everybody takes some time off during Christmas, but banks don’t. Or at least some of their services.
Make sure you don’t forget about the bills that are due and pay them on time. Credit card late payment fees can be ridiculously high sometimes and you really don’t want to pay these instead of using that money to get some nice presents right?
