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What steps are you taking to manage your credit through the holiday season?

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Administrator Emeritus

What steps are you taking to manage your credit through the holiday season?

The actions you take this upcoming holiday season could seriously impact your financial picture in 2009.

Please vote in this week's poll and share your holiday credit management plans with the FICO Forums community.

Happy holidays!

Poll results:
* Reducing your use of credit? (39%)
* Not using credit? (35%)
* Not making any changes? (22%)
* Increasing your use of credit? (4%)

Total Votes: 49
Message Edited by Barry on 12-06-2008 08:57 AM
Message 1 of 47
46 REPLIES 46
Moderator Emeritus

Re: What steps are you taking to manage your credit through the holiday season?

Cash only. I don't want to repeat what I did last year.
Message 2 of 47
Valued Contributor

Re: What steps are you taking to manage your credit through the holiday season?

Cash is subprime.


@llecs wrote:
Cash only. I don't want to repeat what I did last year.

 

IN VINO VERITAS.
Message 3 of 47
Valued Contributor

Re: What steps are you taking to manage your credit through the holiday season?

All holiday spendings are budgeted so no problem here.
IN VINO VERITAS.
Message 4 of 47
Established Member

Re: THIS WEEK: What steps are you taking to manage your credit through the holiday season?

Christmas will come in February, right around when my tax return arrives.  My family really doesn't take Christmas seriously.
Message 5 of 47
Established Member

Re: THIS WEEK: What steps are you taking to manage your credit through the holiday season?

My family is doing a Secret Santa this year to save money.  I'm also starting my shopping before December, so I won't get caught in the "Christmas spirit" of capitalism.  I'll probably still charge the gift for the cash back, but I'm sure I can manage that single gift charge!Smiley Happy
EX 742
Message 6 of 47
Valued Contributor

Re: THIS WEEK: What steps are you taking to manage your credit through the holiday season?

I have a goal to be debt-free by the end of next year. Therefore i will not spend alot for christmas. I will still used my CCs for cash back and usage, however it will be for small amounts.

Message 7 of 47
Senior Contributor

Re: THIS WEEK: What steps are you taking to manage your credit through the holiday season?

my gf works at starbucks.  we are using her weekly markouts (one free bag of coffee or box of tea every week) as gift baskets for her family this year.  that alone eliminates 90% of the people we would otherwise have to shop for.

 

& we don't really look cheap, because her family LOVES starbucks.  Smiley Wink

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 8 of 47
Valued Member

Re: THIS WEEK: What steps are you taking to manage your credit through the holiday season?

We are making a donation of grocery store gift cards to our local food bank. We will buy 1-$250 gift card and donate it in our family's name. We live in a county that has been hit very hard by the closing of industries, mainly textiles and steel. Our county has the one of the highest unemployment rates in our state. Just this morning, the news reported another plant is closing with 200 employees out of work.

 

The food bank admin (who happens to be my sister-in-law) will purchase the items that are most needed at the food bank. She says people forget about the toiletries. We will be supplying her with many coupons to use also. She will shop on double coupon day to take greater advantage.

 

The food bank is operated by my sister-in-law, so we are sure  the gift card will be used as needed, not on beer, wine, cigs, etc.

 

We do not have small children anymore, ours are college students, so they understand the money crunch we are under with tuition and expenses. They are totally satisfied with helping their aunt do the shopping for the food bank.

 

I am proud to say, It was actually their idea!

 

BTW, gift card will be purchased Dec 10 with cold hard CASH!Smiley Happy

Message 9 of 47
New Visitor

Re: THIS WEEK: What steps are you taking to manage your credit through the holiday season?

I have asked my family and friends NOT to purchase a Christmas gift for me this year. Instead, I asked them to take the money that they would have spent on my gift ($25, $50, $100) and use it to pay down on their credit cards, car loan, or student loans.

 

I plan to do the same.

Message 10 of 47
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