Sailing the High Seas of Holiday Shopping with Credit Cards

December 15, 2011

Holiday shopping is upon us: sales left, clearances right, and gift-wrapping straight ahead! It’s this time of year when more people choose to use their credit cards to navigate their way through purchases, from November all the way through January. Janet Dedrick offers some wisdom and analysis of this surge in her article on the Equifax Finance Blog, “

Credit Card Shopping Rises for the Holidays.

Customers choose to pull out their

credit cards as their own personal form of layaway, using the cards for only holiday shopping rather than being tied down to different retailers’ pay over time programs (when still offered). This would be why many accounts that remain dormant most of the year suddenly start carrying balances in the holiday season, but the average balance doesn’t change because these customers still use cash or other forms of funds for everyday purchases.

Credit card data is also trending downward as consumers have been paying off debt over the years. Dedrick predicts that overall balances will not reach the same level as 2010, though balances are heading in that direction. This lower level of debt is a great example of Americans growing more fiscally responsible.

To learn more about credit card trends, check out the

Equifax Finance Blog.

Categories: Economy

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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