- Ensured that a retail card meets your overall needs, and not just your desire for quick savings.
- Avoided "shopping yourself into debt" by setting limits before walking into glamorous stores.
- Checked your billing lists twice (just like Santa!) to be sure all your payments were made on time.
- Reviewed your FICO score and saw that it increased or at least stayed the same.
- Paid a few credit cards late, and have new late payments on your credit report.
- Maxed out your credit cards (even though you're intention was to spend only half of what you went shopping for).
- Not looked at your credit report.
I spoke with Shon Dellinger, Vice President of myfico.com, who emphasized, "Your credit score is inextricably linked to your financial health, yet the responsible credit management some have stuck to all year can be damaged in no time over the holidays." For more information on achieving healthy holiday credit, check out www.myfico.com/holiday/.
Happy Holidays, and please e-mail me with any credit