Ought to You Buy Christmas Items with a Credit score Card?
With the Christmas holidays approaching, it’s easy to be tempted to rummage around on your credit card for gifts at this festive time of year.
But despite the temptation to spend more money, the credit card may actually be the best and most practical way to buy Christmas gifts, that is, as long as you can pay for your purchases instantly.
Now the multimillion-dollar question is, should you buy your Christmas presents with a credit card, pay in cash, or pay with your debit card?
Well, the answer here is quite simple and straightforward. As long as you don’t have serious credit card debt right now and you are sure you have paid off your purchases within 30 days, there are several smart reasons why it pays to forego cash and keep your credit card as an alternative for your Christmas shopping.
Benefit from better protection
If your credit card is ever stolen, technically it is the credit card company’s money, not yours. That means they deal with the situation immediately after you file a complaint.
The situation is different with credit cards, however. You will likely get your money back if you report the theft in good time. However, you still have to prove your case well. There is even a risk of going broke until your money is released by the bank.
You can get some of your money back when prices fall
There are several card issuers such as Chase, Citi, Discover, Capital One and Mastercard that offer what is known as price protection. That means they monitor the price for a specific window of time, usually 60 days, and if that fails, you are entitled to a refund for the difference. After Christmas is over, this guideline can be very worthwhile if the prices of certain items are going down, especially things like seasonal decorations.
You may receive valuable return policy and warranty extensions
Be sure to check the terms and conditions on your credit card. There are credit cards that offer buyers extended warranty protection along with an extended return policy. There are also cases when it could mean double the manufacturer’s guarantee and up to three times longer to return a product.
Just be sure to use your credit card only as a temporary cash flow tool and make sure to pay it off in full before the next month. If not, your interest payments can quickly outweigh the benefits of your cards, resulting in more debt than you can even afford.
Enjoy your Christmas shopping and use your credit card wisely!