Setting and sticking to a budget during the holidays is a practice that’s as old as time. Making a gift list for your loved ones, checking it twice, and mapping out the best way to cover those expenses should be a priority, but what if you’ve already planned on opting for plastic this year? It’s no secret that credit card transactions are much different than debit, however, there are several factors to consider in order to avoid credit card debt come 2021.
Check out these holiday credit cards tips for some good insight on how to spend, save, and earn with your Visa Credit Card this year.
Set a Specific Budget for Your Credit Card
The road to a good credit score begins with a routine, and that’s why a thoughtful budget needs to be factored into the equation. The first questions to ask? How much do you want to spend this holiday season, and what percentage of that sum is going to be covered via your credit card? Big picture budgeting will give you a good idea of what you can spend and a specific time frame for those transactions. Your method of payment (i.e, cash, credit, or a loan) is the additional consideration used to decipher whether or not those holiday purchases will be paid off now or in the future.
Verify Your Credit Card Limits
Now that you’ve got an outline of your credit card budget this holiday season, let’s put the numbers into play! At Discovery FCU, you can implement spending limits on your Visa Classic and Platinum credit card using our simple SecurLOCK Equip app. While your holiday purchases may contribute to a big chunk of your monthly credit card spending, it’s likely that you will still use your card for those basic necessities too. Take control of your credit health by implementing a limit that fits your budget — and provides you with full visibility!
Take Advantage of Mobile and Online Banking
Speaking of visibility — the best way to ensure that you’re on the right track to staying within budget? Frequent check-ins with your online banking tool! Circling back to your checking, savings, and credit card balances is even more important during the holiday season, where those extra little purchases start to add up. At Discovery FCU, we make it easy for you — feel free to monitor multiple accounts all under one login, accessible from a computer, tablet, or mobile phone.
Check Your ScoreCard Reward Points
Credit card purchases really are the gifts that keep on giving. After buying and distributing presents to those closest to you this season, take a minute to reflect on the rewards that you score simply by using your Visa Credit Card. That’s right — with Discovery FCU’s ScoreCard Rewards Program, you’ll rack up points each time you spend. Start the year fresh with a gift to yourself and redeem your points for airline tickets, rental cars, hotel stays, and so much more!
The best way to start spending and earning simultaneously? A Visa Credit Card with low interest rates from Discovery Federal Credit Union! Learn more about the credit card options we present to our members and celebrate the holidays stress-free this year.