Credit Secrets & Tips Blog

Holiday sale ads: they blanket the airwaves, jam your mailbox, and add another pound to your Sunday paper.

Soon you’ll be bombarded with ads for pre-holiday sales, preferred customer specials, early bird sales, midnight madness events, coupon savings days, and, don’t forget, post-holiday sales.

Sure you want a good deal, but just how do you decide if the deal is real?

The following some tips can help you get the most for your money:

* Shop around

A “sale” price isn’t always the “best” price. Some merchants may offer the sale price on the item you want for a limited time.

Other merchants may discount the item you want everyday. Also, when you’re comparison shopping, make sure you have: the item’s manufacturer, model number, stock number or other identifying information.

* Read sale ads carefully

Some may say “quantities limited,” “no rain checks,” or “not available at all stores.”

Before you step out the door, call ahead to make sure the merchant has the item you want in stock. If you’re shopping for a popular or hard-to-find item, ask the merchant if he’d be willing to hold the item until you can get to the store.

* Take time and travel costs into consideration

If an item is on sale, but it’s all the way across town, how much are you really saving once you factor in your time and the costs of transportation and parking?

* Look for price-matching policies

Some merchants will match, or even beat, their competitors’ prices. Read the merchant’s pricing policy carefully. It may not apply to all items.

* Go online

Check out Internet sites that compare prices for items offered online. Some sites also may compare prices offered at stores in your area.

If you decide to buy online, keep shipping costs and delivery time in mind.

* Carefully consider bargain offers that are based on purchases of additional merchandise

For example, “buy one, get one free” or “free gift with purchase.” If you don’t really want or need the item, it’s not a deal.

* Ask about sale adjustments

If you buy an item at regular price and it goes on sale the next week, can you get a credit or refund for the discounted amount?  What documentation will you need?

* Ask about refund and return policies for sale items

Merchants may have different refund and return policies for sale items, especially clearance merchandise.

The holiday shopping season is in full swing. Whether you’re shopping online, by phone or at the mall, chances are you’ll use a credit card for some of your purchases.

Here’s some tips to keep in mind when you shop:
 
1. Keep track of all your spending
 
Incidental and impulse purchases add up. Remember credit cards are just like loans -you have to pay what you owe.

Owing more than you can repay can damage your credit rating. That can make it hard to finance a car, rent an apartment, get insurance, a job - even send flowers.
 
Pay your bill on time, and in full, if possible. If you don’t, you’ll have to pay finance charges on the unpaid balance - and it takes forever to get caught up if you just pay the minimum. 

2. Keep an eye on your credit card and account number
 
* Never lend your credit card to anyone.

You’re responsible for paying the bill. Any problems with the bill can damage your credit rating.

* Don’t sign a blank charge slip.

Draw a line through blank spaces on charge slips above the total so the amount cannot be changed.
 
* Never put your account number on the outside of an envelope or a postcard.
 
* Be cautious about disclosing your account number over the phone unless you know you are dealing with a reputable company.
 
* Carry only the cards you anticipate using to help prevent loss or theft.
 
* Report your lost or stolen credit card or ATM card to the card issuers as quickly as possible.

Many companies have toll-free numbers and 24-hour service to deal with such emergencies.

Follow up with a letter, including your account number, when you noticed the card was missing, and the date you first reported the loss.

3. Keep good records
 
Save your receipts. Compare them with your monthly bill. Promptly report problems to the company that issued the card. Usually, your statement will provide instructions for
disputing a charge. 

If you order by mail, phone or online, keep copies or printouts with details about the transaction, including any warranties, or return and refund policies if you’re not satisfied.

You should have the company’s name, address, phone number, the date of your order, a copy of the order form you sent to the company or a list of the items ordered and their stock codes, the order confirmation codes and the ad or catalog from which
you ordered.