cloudy-day Created with Sketch.
H 57° L 41°
  • cloudy-day Created with Sketch.
    Current Conditions
    Mostly Clear. H 57° L 41°
  • clear-night
    Mostly Clear. H 57° L 41°
  • clear-day Created with Sketch.
    Sunny. H 70° L 51°

Krmg news on demand

00:00 | 00:00


Krmg traffic on demand

00:00 | 00:00


Krmg weather on demand

00:00 | 00:00

7 reasons to use credit cards for holiday shopping

It’s hard to overstate the importance of holiday shopping in America. Every year, shoppers enjoy it, retailers count on it, and gift recipients are delighted. And after finding the best bargains, the next-greatest challenge shoppers face is to choose a method of payment.

If you use credit cards responsibly, they can be a great tool for protecting your holiday purchases, and even making some money off of them. Be sure to pay your balances in full every month if you want to avoid interest charges and maintain (or build) a good credit score. You can check your credit scores for free on Credit.com if you want to see how your credit card spending is impacting them.

While many stores accept cash, checks or debit cards, using a credit card offers several key advantages for holiday shoppers.

1. Credit cards can earn rewards.

One of the things that you will never get from your debit card or your checkbook are rewards for spending, yet many rewards credit cards offer valuable points, miles or cash back. Those who avoid interest by paying their balances in full should always expect some rewards for their spending. However, you shouldn’t spend just to get rewards, especially if you carry a balance on your credit cards from month to month. Not only will the interest charges trump the rewards you might earn, increasing your balances on your credit cards over 30% of your limits could have a negative effect on your credit scores.

2. Credit cards offer better protection against fraud than debit cards. 

While both debit cards and credit cards protect shoppers against unauthorized charges, there is a key difference. When a fraudulent charge is processed against a debit card, the funds are immediately removed from the cardholder’s account — often their primary checking account. Yet an unauthorized charge to a credit card merely appears on the cardholder’s statement, and can be contested before any money is actually missing from the consumer.

3. Credit cards help protect online shoppers. 

When you shop online, you are accepting a merchant’s promise to send you goods (or perform services), in return for your money. The Fair Credit Billing Act is a federal law that protects credit card users who do not receive the goods or services promised. So if an online retailer fails to deliver the goods, or goes out of business before doing so, credit card users can request a chargeback from the their card issuer if the merchant doesn’t offer a refund. In these cases, the card issuer will immediately issue a temporary credit, which will become permanent once the claim is documented. In contrast, a shopper paying with a debit card cannot dispute charges that were legitimately authorized with their card issuer, even if products were never delivered. Just like those who pay with cash or a check, debit card users may ultimately have to take the merchant to court to resolve any dispute.

4. Many credit cards offer shoppers purchase protection policies. 

Most credit cards offer a purchase protection benefit that covers new purchases for theft and damage. For example, Chase Sapphire and Sapphire Preferred credit cards have purchase protection policies covering theft, damage, or loss 120 days after purchase, for up to $500 per claim.

5. Some credit cards offer extended warranty protection. 

Few things are as disappointing as finding out that an expensive purchase no longer works shortly after its manufacturer’s warranty expires. Thankfully, many credit cards feature an extended warranty policy that adds an additional year to manufacturer’s policies.

6. Credit cards can offer price protection.

Don’t you hate it when a popular purchase experiences a price drop after the holidays? With the price protection policies of some credit cards, customers can receive a refund of the difference in price when this happens. For instance, Citi offers its Price Rewind benefit on all of its credit cards that will automatically issue a refund when a covered item experiences a price drop within 60 days of purchase. Cardholders have to register their purchases, but then Citi is able to track online prices and issue refunds without customers filing a claim.

7. Return protection policies. 

Another problem that holiday shoppers can face is when they are unable to return purchases for one reason or another. Some stores might refuse purchases that have been opened or used, while others have require a receipt or impose time limits on returns. Thankfully, some credit cards offer a return protection policy, such as American Express. Its policy covers eligible items within 90 days of purchase for up to $300 per item.

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

Related Articles:

This article originally appeared on Credit.com.

Read More

There are no comments yet. Be the first to post your thoughts. or Register.

  • A large fire has caused an overpass on Interstate 85 in Atlanta to collapse. >> Read more trending news The massive blaze that is burning underneath a section of I-85 NB near Piedmont Road has shut down several roads in northeast Atlanta. Witnesses say troopers were telling cars to turn around on the bridge because they were concerned about its integrity. Minutes later, the bridge collapsed. Black smoke can been seen for miles. 
  • A Tulsa pastor is the second local man caught up in a federal investigation into child pornography. KRMG has confirmed Rev. Ron Robinson was arrested Thursday and taken to the Tulsa County jail. We have obtained a copy of the federal indictment, which contains details too graphic and disturbing to quote. It includes references to Robinson’s fantasies of raping and even murdering children. The pornography being shared via the online app which investigators allege Robinson was watching and commenting on included depictions of adults having sex with children as young as three years old. Most of the depictions were homosexual in nature, involving adult men engaged in sex with young boys, or boys engages in sexual acts with one another. Robinson works at Phillips Seminary in Tulsa, where he is listed as Director of Denominational Formation (Unitarian Universalist) and Adjunct Instructor of Practical Theology. According to the website, he “was ordained by All Souls Unitarian Church in Tulsa in 2002 and is Executive Director of the national organization, Unitarian Universalist Christian Fellowship, and Executive Director of the Tulsa northside renewal organization, A Third Place Community Foundation, created by the local missional community he planted called The Welcome Table.” Robinson also served as pastor for “The Welcome Table,” which is described on its website as a “non-creedal missional community in a progressive ecumenical universalist christian way.”
  • Samsung seems to be playing it safe -at least with its battery - as it unveils its first major smartphone since the embarrassing recall of its fire-prone Note 7. The Galaxy S8 will come in two sizes, both bigger than comparable models from last year. To maximize display space, there's no more physical home button. The S8 also sports a voice assistant intended to rival Siri and Google Assistant. But battery capacity isn't increasing, despite the larger sizes, meaning more breathing room for the battery. Samsung had pushed the engineering envelope with the Note 7 battery, which contributed to spontaneous combustions. That recall cost Samsung at least $5.3 billion. Though many customers remain loyal, any further misstep could prove fatal. The phone, announced Wednesday in New York, will come out April 21. The standard-size S8 will cost about $750 and the larger S8 Plus about $850 - both about $100 more than comparable iPhones and rival Android phones. 'That's a big bet that its phones will justify a higher price, whereas it could have used these new phones as a way to drive higher sales after a couple of years of stagnation,' said Jan Dawson, an analyst with Jackdaw Research.
  • A new Russian hypersonic missile could make the rest of the world's warships obsolete overnight. The International Business Times says it's called the Zircon missile, and experts say it's so fast, it would be unstoppable and could take out the most advanced aircraft carriers and warships with one strike. The Zircon uses scramjet technology to reach speeds of 4,600 miles per hour, 5 times faster than the speed of sound. It's being tested for deployment as soon as 2020. Right now, the only way for U.S. and British carriers to avoid it is to stay so far away, that the carrier's planes would be essentially useless.
  • Six schools were briefly placed on modified lockdown Thursday after a shooting in north Tulsa sent a man to the hospital with multiple gunshot wounds. Ofcr. Jeanne MacKenzie tells KRMG the victim’s girlfriend called 911 about 12:20 p.m. to report the shooting. One person, a female, is in custody and being questioned about the incident. A second potential suspect, a male, is still on the loose. Witnesses have told police he’s a white man, about six feet tall, possibly wearing a red baseball cap and driving a red car. The victim was reportedly in his mid-thirties; there has been no update yet on his condition. MacKenzie said it’s standard for TPS to lock down schools in an area where there has been a violent incident, and that there was never any immediate danger to the children. The affected schools were Bell, Hamilton, McKinley, Mitchell, Owen, and Tulsa MET.