Many people are continuing their holiday shopping and a local company might help you manage credit card debt.
Eric Adamowsky started CreditCardInsider.com to offer advice and comparisons of the myriad cards out there.
“A lot of the credit card websites out there pretty much just are a listing of credit cards without providing too much review or editorial content that give a consumer a look into the nitty-gritty and details of the card. We’re taking the approach for consumers to really learn more about the card, their usage and really what makes sense for them.”
Adamowksy has some specific thoughts about some of the deals you see out there.
- Zero-percent periods can be good…if you don’t overspend and pay off the full balance during the promotional period.
- Points programs can backfire, if you spend unnecessarily just to gain points.
- If a card has an annual fee, make sure the benefits for travel, airport lounges, reservations or security services are worth the fee.
KEEP HOLIDAY DEBT IN CHECK
Adamowksy reminds holiday shoppers not to get carried away.
“Getting those deals where you going to take that extra shirt or you like the gadget you see at one of the electronic stores, credit cards certainly make it easier to do. With credit cards you certainly don’t have to think too much more than pulling the credit card out of your wallet and swiping. It’s really up to the consumer to be as responsible as they can when looking at those purchases.”
He also urges buyers to stay in control when buying extravagant holiday items.
“Especially looking at some of the fashion retailers that are a little higher price point, little bit more affluent type of brand, consumers are typically going to spend a little bit more there and I think that as far as [putting that on the plastic, if you take advantage of some of those promotions deals that some of the credit card companies have, or if you’re getting some kind of cash back on those purchase that’s o.k.”
Credit Card insider allows people to find cards that fit their purchasing styles. He says the information is unbiased – and card companies don’t pay for consideration on the site.
LIMITED CREDIT CARDS OK FOR YOUNG ADULTS
Adamowksy also says young people should consider small-limit credit cards to develop good habits.
“It really isn’t something that should be shied away from. It’s really used as a tool to build their financial futures when they go to apply for a mortgage or car loan actually credit is needed. Establish a strong credit history and ultimately give them better rates on those types of loans and purchases in the future that really going to affect how much they ultimately spend”
Adamowsky says the credit card insider website chooses all the cards it evaluates; consumers don’t pay to use the site, instead the card issuers pay a fee when someone chooses and gets approved for a card.