Beware of Holiday Credit Card Deals
Black Friday deals, sleeping in tents outside big box retailers, stampeding department stores. It’s all part of the holiday rush to find a deal. There are some deals however that should definitely be avoided.
This year, bargain hunters are faced with a very tempting offer. Credit card companies are offering rewards to cardholders that use credit instead of cash. And while credit card companies routinely offer rewards for using their plastic, this year they will be aggressively targeting consumers. And that’s a good strategy, since over 70% of consumers will use credit cards for their purchases this holiday season, according to national surveys.
Discover is ‘rewarding’ customers with $100 cash back for spending over $500 within 3 months of opening a new credit account. Chase is offering a similar $500 for customers who spend $800 on their new card within 3 months. These are seemingly good deals in terms of the savings, however it may also cause shoppers to spend more than they intended, and on things they don’t really need.
Keep in mind, interest rates are typically higher on reward cards, making it even easier for consumers to get into debt. Instead of focusing on rewards, consumers should be focusing on getting out of debt. Pay with cash or debit cards this holiday season and you’ll thank yourself come January when you haven’t racked up more debt.
If you’re entering this holiday season already in debt and you want to get out, consider giving yourself a gift. Enroll your cards in the Performance Debt Resolution program. We’ll reduce your debt by up to 50% with no interest and a flexible payment program. The best part is that you’ll pay no taxes on the reduced amount, unlike traditional debt settlement programs.
So give yourself the gift of giving this season. Get out of debt fast and rebuild your financial future. Call (866) 401-6148 today to learn more about our program. We’ll answer any questions you may have and help you enroll. Call today! It could be the best gift your get this year!
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