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How to wisely use credit cards for gift buying

On Behalf of | Dec 11, 2016 | Bankruptcy |

Since there are many credit card companies that feature incentives, such as reward points and store discounts, Ohio residents might be inclined to use them for their holiday shopping. However, they may want to read these few tips first.

During heavy shopping seasons, there is an increased amount of fraudulent shopping apps and fake online stores created with the intention of capturing shopper’s credit card information. Therefore, shoppers might want to be wary of using credit cards at these places, as well as unverified public places where there is no Wi-Fi protection.

People might also think twice about applying for in-store credit cards that offer deferred interest and discounts on a first purchase. While the offer may sound great, opening a new card and carrying a balance may not be worth the incentives.

Many stores offer credit cards with deferred interest for people who want to buy expensive items. The thought of avoiding paying interest for a period of six months is alluring to buyers; however, if the purchase is not paid by the end of the period advertised, card holders will likely be charged interest for the entire introductory period, even if the balance is just a penny.

Another potential danger of using credit cards for holiday purchases is when people do this without keeping track of how much money they are spending. To solve overspending, credit card users might want to add up totals from their receipts after they shop and set a spending limit.

Holiday shopping can add up quickly and put a person in serious debt. People who owe more money than they earn make might wish to speak to a bankruptcy attorney to learn various ways to reorganize their debts, including non-bankruptcy options.


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