Throughout the year, people often avoid shopping sprees and extravagant purchases. But even the most frugal consumer sometimes falls victim to the reckless joys of holiday spending. For some, it is concentrated into one day like Black Friday. Others make it a month-long event. Either way, there’s just something about the holiday season that entices people to shop.
According to a CNN Tech article, Cyber Monday 2011 was the highest-grossing online shopping day in U.S. history, with Americans spending $1.25 billion. Research firm comScore reports that online shopping for the entire month of November hit $15 billion, a 15 percent increase from last year.
With all of the online shopping carts being filled to the brim, there are bound to be people who spend far beyond their means. For some, the pressure of limited-time offers and trying to snag deals before everyone else leads to overspending. Others simply don’t add up their totals as they switch between websites. Once the credit card statement comes, it can be quite a shock to see the grand total. Unfortunately, while gifts can certainly be returned, it may take time for credits to show up. By then, a credit card payment is late or missed and the damage is done.
Just remember that all it takes is one bad score to ruin your credit. If you’re trying to finance a new home or purchase a car, having bad credit will hinder or prevent you from taking out a loan. And because it can take a long time to repair credit, you may be feeling the effects of reckless holiday spending for years to come.
If you’re in need of getting up to speed on your credit situation or want to prevent a credit nightmare, FreeScore can help. With the Power of 3, you’ll receive all three of your credit scores and reports from Equifax, Experian and TransUnion. You will also have the peace of mind that comes with 24/7 credit monitoring and automatic credit alerts if suspicious activity is detected at any of the three credit bureaus.
Being knowledgeable about your credit will help you use it more wisely and deter you from overspending this holiday season. With help from FreeScore, you’ll be able start the New Year off on the right foot: with complete credit scores, management, and protection.
Similar Posts:
- Peace on Earth and Good Credit Scores for Men: NOT!
- 5 Fall Financial To-Dos For Your Credit Health
- Monday Jumpstart to Personal Finance & Credit News
- Credit Monitoring Can Help Our Credit Scores To Stay Healthy During The Holidays.
- Use a Prepaid Debit Card for the Upcoming Holiday Movie Season
no comment until now