According to surveys, despite poor economic conditions many credit card bearing Americans would still be trooping to stores and shopping centers during the holiday season which would officially begin on Black Friday and Cyber Monday.
A survey conducted by a research firm revealed that 59% percent of Americans are planning to take advantage of the holiday season to shop for bargains and majority prefer to use credit cards for online purchases.
For people who will be taking advantage of the start of the holiday season, particularly Black Friday and Cyber Monday and will be using their credit cards for online purchases, here are some helpful tips and suggestions to help you get the best deals and to avoid "traps" laid out by deceptive businesses.
Pass up on store credit card Offers
Retailers will be taking advantage of the holiday season and ramp up marketing efforts. One product that store owners are keen on promoting this shopping season is their own store credit card.
Credit card promotions will be on almost every corner of retail stores and you will be bombarded with offers for new credit cards. To entice people to sign-up, companies are willing to offer as much as 20% off of one's total purchases. However, be cautious of these programs because a lot of these in-house credit cards have very strict policies on late payments and charges can run up to 20% interest for late payments.
Make good use of credit card return options
Some credit card companies have good credit card return policies that will allow you to return items purchased within a 90-day grace period. Retailers do not even offer half as good return options and the most one can expect is a 30 day grace period.
For example, while shopping your emotions got the better of you and you found yourself buying more things than you should, you would have more than enough time (a full 3 months!) to return the items.
Treat your credit card like a debit card
Shopping using credit cards is a convenient away to buy merchandise. You do not need to bring cash with you and is very helpful especially when you do not have enough cash with you. However, be extra careful when buying items with credit cards because you might easily get tempted to go overboard and in the end find yourself getting merchandise that is beyond your budget. Make sure that you have enough money in the bank to cover for all your purchases and keep track of all the items you bought, making sure that you are spending within your budget.