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Holiday Budgeting: The Right Ways to Use Your Credit Card during Holiday Season

During the holidays, we get to spend so much, in terms of gifts, decorations, and Christmas treats. While it may be true that the Yuletide season is all about partying to your heart’s desire and being merry, we should not forget to consider the possible effects of overspending. If savings would not be enough, people tend to utilize their credit cards, just to make up for the expenditures and cash that no longer exist in their bank accounts. Yes, it may seem like a convenient and harmless idea at first. However, such as with all things, too much of anything may do more bad than good. With this, we had listed a few pointers in utilizing your credit card during the Holiday season:

Holiday Budgeting The Right Ways to Use Your Credit Card during Holiday Season

1. Know your limit, literally.

All credit cards have spending limits. This is clear from the very moment you had decided to get one from the bank. For those who are not familiar with the term, what does it mean? Basically, using a credit card is like borrowing money from a bank. Credit limit is set by the bank so that you may only avail within a certain range of amount. If you lose track of your spending, there is a strong possibility that you will go over the limit. Keep this in mind as you will incur penalties and charges if not careful.

2. Be careful of deceitful promos and discounts during the holidays.

It is natural for us to save, hence we go for the items that involve reduced prices. However, some retail stores tend to fake some deals, having a few fine print conditions in their discounts resulting to hidden charges. This is more critical when you’re using a credit card, since you’re technically spending more than what you had bargained for, adding the interest rates to the charges, etc. The best advice would be to plan your purchases ahead of time, so that you may be able to canvass and find a truthful deal along the process.

3. Take advantage of your credit card’s reward system.

Some credit card companies reward their clients if they happen to have a clean record, no overspending over the limit and no late payment on the monthly rates. In lieu of this, why not avail this certain feature? It wouldn’t only save you money; it would also enable you to pay less when the monthly bill arrives. Some companies even reward you with points, bought about by achieving a certain number of purchases using your card.

Holiday Budgeting The Right Ways to Use Your Credit Card during Holiday Season2

4. Be on the lookout for coupon codes.

Not to be mistaken with discount and other promos, coupon codes are those which may be found online, instead of the actual store itself. Some offer varieties of percentages in price deductions, while some may only be availed once you buy an item of certain amount. You may even validate the code itself using the main website of your credit card company, or the main server of the coupon website itself. Do remember to read the fine print though, just to be sure that there are no other conditions in your purchases.

After knowing of our valuable tips, you may definitely want to pay for the monthly credit card charges of your transactions with great ease, and through that be able to save for the future without any impending balances. No worries, as Cebuana Lhuillier offers their Bills Payment Services in their 1,800 branches nationwide. All transactions are online and are completed quickly and safely. Its current partners (such as Metrobank Credit Card) also include major telecommunication networks, insurance companies, online businesses, and schools. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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