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This is higher than any other year previously recorded by the federation.
Whether you spend the average amount or are naturally more or less money-conscious, there are ways to save.
Many credit cards offer perks or bonuses that can help you score discounts or great deals while holiday shopping.
Here are10 tips for using your credit card perksor rewards program to maximize your holiday shopping in 2024.
Diversify
Diversification isnt just for investments.
you’re able to apply it to credit cards to maximize rewards and find great deals.
Look for Hidden Perks
Not all perks are immediately obvious or frequently used.
Knowing your cards benefits and how to use them can help you maximize their value.
Regularly reviewing your card benefits can reveal great perks and seasonal promotions that can boost your savings.
Always Pay Off Your Balance
The average credit card APR is 22.8%.
First things first though you have to pay your balance off in full every single month.
Doing this is how you will avoid paying interest and fees.
Look for Exclusive Deals
Sometimes, credit card issuers offer exclusive deals with specific retailers.
Knowing about these deals before you shop can help you save money.
If that retailer also has exclusive deals with your card issuer, you could save even more.
Credit cards also come withadditional fraud and purchase protectionsthat debit cards and cash dont give you, said Kullberg.
Redeem Your Rewards for Maximum Value
Not all reward redemption options offer the same value.
Often these rewards are more valuable than you might think.
For example, typically 20,000 points is worth $200 in cashback or a gift card.
you might use these rewards to offset the higher-than-usual spending that occurs during the holidays.
Compare redemption options as well.
Many banks offer sign-on bonuses for new accounts tied to reaching a certain threshold of spend, said Fred.
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