New Credit Cards Before Holidays – Is It Always A Good Idea?

The decision to apply for a new credit card at any time should not be taken lightly. As the holiday season looms, you may be gearing up for a round of spending, and a shiny new credit card seems very appealing.

It is very easy to get caught up in the spirit of the season, and for many people that equates to a need to buy things for themselves and other people. We get carried away during the holidays, and feel a little Scrooge-like if we don’t throw caution to the wind and splurge on the very best money can buy. Or, rather, that credit can buy. After all, Christmas comes but once a year, as they say.

That’s all fine, providing the purchases you make on your new credit card do not become the ghost of Christmas past, and end up still haunting you when the following holiday season comes around.

The case against a new credit card for the Holidays:

Let’s bear one thing in mind when considering a new credit card for the holidays: If you do manage to bring any joy to other people with your gifts (and many don’t), that joy will probably last a fraction of the time it takes for you to pay off your credit card bill. That’s an imbalance you need to consider.
Most people like to start the New Year off with a few resolutions. Chief amongst them would be to keep their finances in better check. That is going to be more difficult than ever if the past few months spending has completely wrecked them. A new credit card procured for the purpose of holiday spending goes against the best reason to get a credit card – as an emergency source of funding should all else fail.
Be very aware if seeking a new credit card at this time of year that it is likely to receive a serious hammering. Your intentions are clear already: you want to spend.

Points to consider:

• Get a card with a low rate of interest on purchases
• Make use of any Holiday rewards features on your card
• Avoid cards with annual fees
• Make a gift list and stick to it

How to take care of a new credit card for the Holidays:

New credit cards don’t like the light. They are much happier in a dark place, such as your purse or wallet. They particularly don’t enjoy listening to carol singers in the local mall. Only ever bring them out with you if you know they will be protected from the worst excesses of the season. Getting swiped through a till is their equivalent of getting drunk, only their hangover can last for many months, and you will be the one who has to nurse them slowly back to health.

Related posts:

1. New Credit Cards Before Holidays – Is It Always A Good Idea?
2. How To Avoid Overspending On Your Credit Card Over The Christmas Holidays
3. We Are On The Countdown So Plan Your Christmas Spending
4. The Benefits For Credit Card Users Who Do Their Holiday Shopping Early
5. How to avoid credit card debt this Christmas
6. Reducing your Christmas Credit Card debt
7. How To Survive Christmas With Your Card

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
St George Vertigo	Editor's Choice: Low Interest Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.	2.99% for 6 months (reverts to 11.99%)	20.74%	2.99% for 6 months	$55	55
Coles Group Source MasterCard	The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points	19.74%	21.99%	0% for 6 months	$0	62
Bankwest Zero Platinum MasterCard	Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers	16.99%	16.99%	1.99% for 9 months	$0	55