February 13, 2006
Valentine's Day and credit card woes
Valentines day and most people plan outrageously priced gifts for their special someone. Many couples hope to go on a romantic outing and others are tempted by the umpteen online ads that pop up with roses, chocolates and diamonds.
Credit cards are probably the easiest way to buy and credit card companies usually tie up with hotels and retailers and try to woo you into buying that special gift for your loved one. February begins with a lull in consumer buying after holidays, but this picks up during Valentine's Day. But let's not forget that this month also brought us our huge credit card bills in the mail.
Its time to rein-in those extravagant gift ideas in the name of love. It's universally true that love sours when finances crumble. Most spouses may not be happy if you add to your already escalating credit card bills. The interest rates on credit cards are also increasing and it is the most convenient way of spending. All the freebies might be very attractive but your credit card bills could eventually snuff out all the romance.
However, before you splurge on your love you could check your credit report and credit scores. You can get your credit reports free every 12 months now. Dealcatchcer.com has found the Free Experian Credit Report that offers free credit reports to anyone who signs in to their credit check program can get their report.
You will be charged nothing if you cancel your membership within a month. Plus for just an extra $5 you are even given your credit score. Basically you are better informed about your credit status and also detect major changes and identity frauds. You can also do this without lowering your credit score. It also gives you a chance to detect mistakes and dispute them.
Surveys conducted by credit card companies themselves say that 57 percent of consumers secretly hope they will be gifted a surprise Valentine getaway trip abroad. But it's good that most consumers surveyed also think it's foolish to use up an entire credit card's maximum even on these romantic indulgences.
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