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Could holiday credit card use leave you out in the cold?

For many Escondido residents, the onset of the holiday season means good times at get-togethers with family members and friends, shopping for the perfects gifts for loved ones and sometimes even enjoying a little bit cooler weather. But, as most people know, this is also a time of year when many Americans put their credit in jeopardy.

Anyone who has faced a credit debt crunch in the aftermath of the holidays - and successfully dug themselves out of the situation - would probably be on the lookout for any sensible strategies to avoid the problem again. A recent article noted a few different areas where an Escondido resident could get in a tight financial spot when dealing with debt, including credit card use.

There is no doubt that credit cards can be great when used correctly. Most credit card companies these days offer rewards for using their cards, and using these cards with those rewards in mind can be a primary motivation for some people. But overuse of credit cards, as noted in the recent article, can lead to some serious concern. The holiday season presents one of the most common times of the year when credit card overuse can become a problem for many Americans.

To avoid the problem, the article suggested simply trying to not to use credit cards. For instance, when holiday shopping an Escondido resident could try to focus on only using cash to buy gifts, or at the very least just leaving credit cards at home while out looking for that perfect gift. It can be too easy for some people to let holiday cheer leave them with credit problems going into the new year.

Source: Fox Business, "5 Common Debt Traps and How to Avoid Them," Alaina Tweddale, Dec. 2, 2013

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