Managing credit card spending this holiday season

For some, credit cards are a love-hate relationship.

With the holiday shopping season here, credit cards can and should be used as a force for good.

Cash back and rewards cards can stretch budgets, and prevent money from being left on the table.

Treat the payment process like a game. Open your wallet and lay out all of your credit cards. Then, write down each card’s benefits.

Once you’ve determined what each card does best, match them with the list of gifts you have to buy.

“If you are, for example, planning to buy a gift card to a restaurant…then you might want to consider using a card that will give you a higher rewards rate for restaurant purchases,” NerdWallet personal finance expert Kimberly Palmer says.

Some pitfalls of putting all your purchases on the plastic? Debt.

According to a NerdWallet survey, one in four people surveyed are still paying off last years holiday bills.

Their advice is to stick with your budget and don’t overspend. For more tips from NerdWallet, you can visit their website. 

Loyalty programs should also be factored into the plan. While they aren’t forms of payment, they are a free way to provide savings.