Good morning Dinks. Let’s get real for a minute. I’m going to ask a question and I’d like you to answer honestly – how do you feel about your credit cards this time of the year?
Be honest.
As you know I’ve always had a love/hate relationship with credit. I love using my credit cards when I’m shopping and buying nice things, but I hate them when I get the bill at the end of the month and realize I’m in debt again.
During the holidays I absolutely hate my credit card, it’s like this thing looming over me, taunting me saying “I’m in your wallet, use me – even though you can’t afford to make the payments.” This year I kept the credit card at home and bought all my Christmas gifts with cash. Nick and my Dad are getting some great gifts, not the perfect gifts, but definitely some really things they both need and will love.
Did you use your credit cards this year?
I did part of my Christmas shopping online at Amazon and Barnes & Noble and the other part in person at a few select stores. As I walked through the shopping malls I was very tempted to whip out my credit card and buy expensive gifts for everyone on my list, but that was the old me – and the old me’s dead and gone. I’ve learned through my debt mess that the holidays don’t have to be all blinged out with several gifts under the tree and a whole lot of credit card debt to go with it. All we need is good food, a warm house, cheerful music, lots of chocolate and a debt free Christmas. Is that too much to ask?
I didn’t think so, so that’s what I did. I worked too hard to get a good credit score to ruin it and fall back into old habits of using my credit card and not paying them off. Nope, not this year!
If you’re going to swipe you might as well get rewards
I’m not a big fan of applying for a credit card just for the rewards, but I am a huge fan of getting the most out of your money. So if you’re going to use your credit card during the holidays you might as well use it wisely.
Our friends at RateSupermarket.ca say that fees and rewards are two things consumers should consider when selecting their credit card. Rewards such as cash back, travel perks, low interest rates and balance transfer options are all rewards that consumers can use to their advantage when using their credit cards during the holidays.
I like getting rewards but I hate being restricted. I don’t believe in credit card companies telling me when and how I can use rewards. I also don’t believe in paying fees for rewards – because if you’re paying an annual credit card fee to earn cash back it’s not really a reward, is it? I don’t think so!
Did you do Christmas without Credit this year?
Kristina Tahnyak
Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.
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