Credit Saving Holiday Advice

This is the time of year that can really do some damage to your credit score.  We all want to buy gifts for our kids and make it a great Christmas, or whatever holiday you celebrate.  The financial strain on the economy and your want to have that great Christmas can put you behind for a long time.  Using credit cards to make your shopping go faster and save time is great, but this is what it can do.  The closer you are to your available max credit the lower your score will go!  For example, owe $4,000, max is $5,000 you just dropped your score about 30-40 points and that's per card.  Not to mention if you get behind, late charges and interest rack up.  Listen to this as well friends, credit card companies share information!  Say you have three cards, two have 10% interest rates, and one has 0%.  You pay two of the three cards on time, but late on the third.  The card you paid late will charge a late fee, plus jump your rate to 18-22%.  With this in mind, if the credit card companies share your information, the other two cards can change the terms or your agreement.  Meaning, even the 0% card can now hit you with a high interest rate because you violated the terms by paying late to a different card.  They also like to add an annual fee of some sort toward the end of the year.  Also keep in mind, that going over the limit doesn't just kill your credit score, but now they can change the terms and increase your rate for that as well.  So this year, think of paying in cash, lay away, sales, and you may have to go with out it or get the cheaper off brand.  Times are tough enough as it is, save yourself from getting beat up by the big credit card companies, your credit will thank you!