Christmas Shoppers Leaving Credit Cards at Home

With the Christmas shopping season in full bloom, more Americans say they are doing the job without resorting to credit cards. A poll conducted by Marist College in New York indicated that overall, 56 percent of the shoppers say they will not use their plastic this year. Another 26 percent indicated they will pick up part of their presents using a card and  9 percent said they will not resort to credit at all.

Income level is a factor. Those who earn less—under $50,000— said they wouldn’t use their cards. Only 47 percent of those whose incomes tops $50,000 said they would not buy gifts with a credit card. That translates into age groups as well. The younger the demographic, the  less likely they are to resort to credit buying—likely because they have less “wiggle room” for debt. Seventy percent of those in the survey who were in the 19-29 year age group said they were not likely to use a card; 57 percent in the 30-44 year age group; 56 percent in the 45-59 bracket; and 48 percent in the 60-plus category.

Will You Buy Christmas Presents Online?

The Marist pollsters said they found more shoppers this year inclined toward making purchases online. Eleven percent said they would wrap up all their Christmas shopping  online; 42 percent that they would make some online purchases and 47 percent that online wouldn’t be an option for them. Those poll results compare with a similar survey in 2007, when 58 percent of the respondents said they would not make online purchases at all; 37 percent said they would use the online approach for some of their purchases and 4 percent that they would spend their time at the computer instead of in the stores.

How Much Will You Spend This Christmas?

When it came to the amount they plan to spend on Christmas this season, 57 percent of those who responded to the Marist poll  planned to spend the same as last year, despite the ongoing economic pressures spawned by a long-lasting downswing. Forty percent said they will spend less and only 9 percent that they were opening their wallets wider.  Again, the age groups seemed to reflect the effects of the recession.

Forty-three percent of the women surveyed said they are likely to spend less this year, and they tend to be more prone to shopping than their male counterparts, 37 percent of whom said they are likely to spend less during the annual gift-buying frenzy.

Credit Card Benefits For Christmas Shopping

In favor of using credit cards for shopping are people who make purchases and the merchant goes out of business. Credit card users were the only ones able to get refund for defective merchandise. If you plan to use your credit cards for shopping, make sure you check your budget.

Effective Use of Credit Cards

[ad#250x250]Credit cards may be one of the most innovative and helpful inventions in the modern era. Through this little electronic card, we are able to make cashless transactions and online purchases. We are now able to live in comfort for credit cards make us think we can afford the finer things in life.

This is one of the advantages of having a credit card. The downside is that we also have to pay the banks interest fees for this service. People who do not manage their finances well can be charged high interest rates and huge penalty fees for late payments. This is a cycle they may never escape unless they seek professional assistance.

If you use credit cards regularly and you can control your spending, there are some ways you can get low interest rates. Read on and find out how.

There are essentially two paths you can take if you want lowered interest rates. The first one has to do with dealing directly with the credit card company. If this is not appealing to you, you can use the second option, which is to find a separate loan that has lower interest rate than your existing credit card rates.

In dealing with the credit card company, before you request a lower interest rate, you need to have a good credit rating. Remember that you can only qualify for lower interest rates if you have good credit scores. A good credit rating is an indicator that you pay your debts regularly and that they can rely on your monthly payments.

Now, if you want another way to go about this, you can approach other lending firms that are willing to offer you a lower interest rate as well. You can refinance your home loan. You may receive a lower interest rate because of this and it may allow you to pay off some of you high interest credit cards.

If you are serious about getting your finances in order and you instill in yourself a sense of discipline, there are a lot of ways for you to get the lowest interest rates possible. You should not expect overnight success when you are in search for a competitive interest rate, instead, practice some patience in the course of your research. Why not begin your search today? Call your credit card company or search the web for other options. There are numerous websites that can help you get started.

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