Credit cards get used a lot during the holiday season when you’re buying gifts and going out with loved ones, but these expenses can increase your debt beyond a manageable amount. Fortunately, with some careful planning, you can treat your loved ones without having to worry about the need for debt relief. 

4 Credit Card Tips for the Holidays

1. Use One Credit Card

Tracking your spending becomes significantly harder when multiple credit cards are in play. You’ll not only have to monitor each account but also make payments on different due dates. Limiting yourself to a single credit card consolidates all transactions and provides a clear picture of what you’ve spent each month.

2. Maximize Cash-Back Bonuses

When choosing a credit card to use, find the one that offers the most in cash-back bonuses. Then cash them in for a general gift card that you can put toward holiday presents and outings. It’s an easy way to save money and give your credit card a break.

3. Create a Budget

Figure out how much of your monthly income goes toward essentials, such as your food and mortgage. Anything leftover can be set aside for gifts. Then make a list of all the people you’re buying gifts for and allocate the funds among them. Knowing the amount available for each person will help limit purchases and reduce the risk of overspending.

4. Pay On Time

Delaying your credit card payments will result in increased interest and lower your credit score. Over time, this can take a toll on your debt relief efforts. Prepare ahead of time by checking the amount due for that month and setting aside the funds. Create a reminder for yourself at least two days before the bill is due to avoid missing the payment.

Get your finances back on track after the holidays by working with Greg Dunn, Bankruptcy & Debt Relief Attorney in Honolulu, HI. He has more than 25 years of experience with debt relief solutions and has handled over 12,000 bankruptcy cases statewide. Call (808) 524-4529 to request a free consultation, or visit his website for additional information on bankruptcy assistance.