Mountain View, Calif. – November 25, 2014 – Credit Sesame, the leading consumer credit and personal finance company, today announces its top five tips for consumers to protect their credit and finances this holiday shopping season. With the most popular shopping day of the year just around the corner, Credit Sesame encourages consumers to make informed decisions about holiday spending when taking advantage of Black Friday and all holiday deals.
To get your free credit score, free credit monitoring and free identity protection through Credit Sesame, visit www.CreditSesame.com
“Americans are expected to outspend last year’s holiday shopping season by 4.5 percent so this is going to be a very big spending year,” says credit expert for Credit Sesame, John Ulzheimer. “Many consumers approach the shopping season without a budget or spending plan, which can wreak havoc on your personal finances. It’s important to stay conscious of your budget and how your spending will affect your credit in the year to come.”
Credit Sesame encourages consumers to consider the following when spending for the holidays this year:
1. Avoid Opening New Retail Store Cards
Retail store credit cards often have very high interest rates and very low credit limits, which means that even modest balances can harm your credit scores.
2. Use Credit Over Debit and Cash
Data breaches have become a common occurrence, so choose your payment methods wisely. If your credit card information is hacked in a data breach, you won’t be held liable for any unauthorized charges on the card. You can’t say the same if your debit card information, prepaid debit card information or cash is stolen.
3. Don’t Spend More Than Can Be Paid in Full… By January
Meaning, don’t go into debt when you’re shopping for the holidays. Consumers should aim to spend an amount lower than what they can comfortably pay off by the due date of their December statement – usually around mid to late January.
4. Check Credit Reports Before December 31st
Use resources like www.CreditSesame.com to check your credit report and get your credit score for free. As the New Year approaches, consumers often set resolutions to improve their credit scores or financial situations. One cannot improve their credit score without first knowing what’s on their credit report.
5. Use the Credit Card With the Highest Limit for Holiday Shopping
This credit score protection strategy focuses on keeping the credit card balance to credit limit ratio, or revolving utilization, low. Credit scoring models like to see balances that do not eat up too much of the credit limit.
To view the top five ways consumers can protect their Credit and finances this holiday season in further detail, click here: /blog/top-five-ways-to-protect-your-credit-finances-holiday-season
Credit Sesame is accessible online via desktop and mobile devices. Consumers can sign up for the service in as little as 90 seconds. For more information visit CreditSesame.com, or check out the Credit Sesame mobile app, available for download in the Apple App Store and on Google Play for Android.
About Credit Sesame
Credit Sesame is the personal credit advocate and loan expert, helping people make smarter financial decisions to save money and live richly. From free credit scores and credit monitoring, to premium credit and identity theft protection, Credit Sesame is the only provider that gives consumers the tools they need to access, monitor and analyze their credit, improve their financial standing and protect their identity — all in one place.
Credit Sesame uses a proprietary savings recommendation engine, with bank-level analytics, that monitors the market, runs thousands of scenarios and analyzes each individual’s financial profile to identify the best loans and savings opportunities. Customers receive unbiased recommendations on home loans, auto loans, credit cards and other loans, customized for their personal financial situation. For regular Credit Sesame updates follow us at https://twitter.com/creditsesame, become a fan on Facebook at https://www.facebook.com/creditsesame or visit http://www.creditsesame.com.
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