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Own Your Holiday Credit Card Spending! Four Tips That Can Help.

November 22, 2016 Credit cards—and credit card bills—are just a reality of the holiday season. We get it! Which is why we’re here to help you use and pay off your credit cards as wisely as possible. Try these four tips: Tip #1: Stick with your holiday budget. The holiday season can be tough on your budget. There are so many last–minute shopping deals and activities that you hate to pass up and so much pressure to spend, spend, spend your way to holiday happiness. Resist the temptation to overindulge now and your stress level will be so much lower in January! Tip #2: Resist the temptation to open and run up a bunch of store credit card bills. We’ve all been there: Ready to buy when the clerk whispers those magic words “Sign up for our credit card and get a discount.” Sure, you might get some fun perks for having a store card—especially the thrill of that immediate discount—but opt in for too many and you could end up with a wallet full of temptation. Plus, many store cards have very high interest rates if you don’t pay them off each month and any rewards or benefits you earn can only be used at that store. Instead, put all your purchases on a credit card that offers rewards (May we suggest the  ?*). You’ll have a tidy bundle of benefits at the end of the shopping season and only one bill to pay. Tip #3: Get the most out of your general credit card. Some credit cards offered have special deals or extra points if you use them for certain shopping categories at certain times. For instance, if you have a  , you’ll get DOUBLE POINTS on every department store purchase you make, now through December. And you’ll typically be able to use those rewards for a wide variety of things. For instance, with the Summit card you can choose from cash back, airline tickets, vacations, meals, merchandise and much more. Tip #4: Use a Home Equity Line of Credit to pay off your holiday credit card bills. Know you won’t be able to pay off your credit card bills in full come January? You have two options: months of expensive interest payments or the ease and savings of paying it off with a   (HELOC). HELOCs are easy to apply for-   or call Summit and ask to speak with one of our lending experts about how you can apply for a HELOC. After you’ve finished your holiday shopping, just add up the total you spent, transfer the amount from your HELOC to your checking account and you’ll be able to pay your credit card in full. Your interest rate will typically be lower than what you’d pay on credit card debt and most people will get tax advantages too (check with your tax adviser for further information regarding the deductibility of interest and charges). Or consider consolidating your monthly payments into one by transferring your balances to Summit. Our low   will help you kick your debt and keep your dollars to put toward those holiday expenses. Now, get out there and own your credit card spending! Happy holiday-making from Summit! You might also be interested in Here are some tips on how to prioritize your debts and bills, negotiate with creditors and get your late payments back on solid ground. Strengthen your credit and learn about the new changes happening to your score. Here’s everything you need to know. Sometimes having a little extra cash is the only thing between you and your dreams. Check out these financial tips to be smart about borrowing money and avoid common mistakes. With so many credit card options out there, it can be difficult to choose one that's right for your finances. Here are the do's & don'ts of credit cards to help you decide! Did you resolve to make this the year you took charge of your finances?  It’s crazy to think that the year is almost halfway over, but, hey, it is! Which means it’s the perfect time to take stock of how you’re doing on managing your finances. Credit cards can be a great way to stretch your money until payday and a handy way to buy online. (And who doesn’t love to watch their credit card rewards pile up?!?) Ready to get out of credit card debt — or avoid it in the first place? We’re here to help. There’s no better place to borrow than Summit – in the entire U.S.! Here’s the proof. Did you know Summit gives you more value than any other credit union in the U.S. when it’s time to borrow money? Is “your baby” about to leave home? Whether that has you mooning over their old first day of school photos or plotting how to repurpose their bedroom (or, maybe, both) there’s one topic you need to tackle now: smart spending. Did you resolve to do a better job with your finances in 2018? Good for you! We know you can do it! To help, we’ve come up with a catchy name — your Money Smart Year (don’t you feel inspired already?) 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