Credit is also necessary for other kinds of financing too. And good credit means you can not only get financing for big purchases that you want or need like an automobile or home, but you will get better rates. Thus, while bad credit can lock you out of certain big purchases because you won’t qualify for credit, it can also cost you A LOT MORE in terms of deposits, down payments, interest and fees to use that credit.
Businesses know people will be less restrained in their spending over the holidays, more than any other time of the year. It’s possible you are one of the many who have suffered from post-holiday stress and regret caused by over-spending over the holidays in the past. The good news is that just a little information and awareness can prevent this from happening again in the future.