Has Holiday Spending Been Ruining Your Credit?
During the end-of-the-year holiday season, Americans spend more on gifts than anyone else, and a lot of that spending is through credit cards or merchandise cards.
With major holidays such as Thanksgiving, hundreds of attractive Black Friday sales, and Christmas, it’s more important than ever to take a close look at your finances to ensure you’re not destroying your credit.
The National Retail Federation estimates that the average American spends $700 for over $465 billion during the holidays. That’s a lot of spending, and Thanksgiving and Christmas are the most significant times of year for consumers to rack up credit card debt which can severely damage your credit score if you aren’t maintaining a reasonable debt to credit ratio.
What To Consider Before Swiping Your Credit Card
A few things you should consider before swiping your credit card during Black Friday weekend:
Keeping Your Credit Score High Means You Can Spend More
Now, we know nobody wants to be advised they can’t spend a lot when there are so many fabulous sales going on, but while you may be saving money by buying when there is a sale, many people tend to spend a lot more than their finances would usually permit, causing them to fall into heavy debt.
There is some good news, though. When you’re careful with your spending and maintain good credit, your credit score will increase, allowing you to spend more. Why? Well, with a higher credit score, your interest rates will be significantly lower, which can save you hundreds of dollars in interest on your credit cards alone. Additionally, you could save thousands of dollars on larger purchases, like your car or home. Why give your creditors extra money when you could be using that money on all these sweet sales going on?
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Get the benefits and experience of a firm that concentrates on helping people with credit problems without paying huge setup fees. Credit Repair Enforcers has successfully removed erroneous, unverifiable, outdated, and inaccurate information from our client’s three credit reports for over 20+ years. We assist with all things credit repair and credit building. We have helped people who need assistance with personal, business, and corporate credit repair and credit building. Credit Repair Enforcers fight for your credit rights!
Credit Repair Enforcers fight for your credit rights!