4 Reasons to Use a Credit Card for Your Holiday Shopping


Posted: November 07, 2022 | Word Count: 678

As November begins and the leaves start to change, the season of giving is right around the corner. With upcoming holiday gifting, celebrations, and travel, finding a credit card that meets your needs is essential to help set you up for a successful holiday season. Here are four reasons from Golden 1 Credit Union on why purchases should be on a credit card throughout the holiday season and beyond.

Earn Cash Back on Every Holiday Purchase

The holidays can be a stressful and expensive time of year, but they don’t have to be! The holiday season can instead be a great opportunity to use increased spending to your advantage by earning cash back rewards that debit cards cannot offer. For example, Golden 1’s Member Cash Rewards+ credit card provides cash back on every purchase, which could make a real difference as prices continue to rise this fall. According to the U.S. Bureau of Labor Statistics’ Consumer Price Index Summary, grocery prices have increased 13.5% over the last year. Although we don’t want to pay more for items, especially around an already expensive time of year, credit cards can help relieve some of the costs. For instance, with the Member Cash Rewards+ credit card, you can earn 4% cash back when getting gas for holiday travel, 3% cash back grocery shopping, getting food delivered or eating out for festive parties, as well as 1% cash back buying holiday gifts or anything else. Who doesn’t want cash back on purchases you were already going to make?

Streamlining Holiday Purchases

Between online and in-store shopping along with the many events that come along with the holidays, losing track of spending and going over budget can easily happen. The holiday season can be a time of giving, but it can also be a time of spending beyond your means. Using one credit card can help you not only stay on budget, but track where you are spending the most. Try streamlining your holiday shopping by using one card dedicated to purchases where you can maximize rewards quicker than spending across multiple methods of payment.

Staying Within Your Holiday Budget

With the new year approaching, now is the perfect time to assess your goals and set your financial New Year's resolutions. By creating a realistic budget, your credit card can be utilized to consolidate debt and earn rewards that save you money moving into 2023. By purchasing things you currently need with your credit card, you’ll earn cash back rewards that can help you save for future expenses. So even if you have a lot of upcoming holiday expenses, you can still plan that dream vacation using your cash back rewards from your credit cards to relieve some of the burden.

Establishing Credit for Big Purchases

Looking to make a big purchase sometime next year such as a car or house? You’ll need credit history, and the holidays are the perfect time to start accumulating it! Credit cards are among the fastest and easiest ways to establish a credit score. If purchases and payments on a credit card remain timely and responsible, your credit score will increase, which allows you to borrow money at a lower interest rate and qualify for better rates on larger purchases. A credit history must start somewhere, and if your spending typically goes up during the fall and winter months due to the holidays, using a credit card responsibly can set you up for success moving into the new year.

This holiday season, use your credit card responsibly to conquer gift buying, festive events, holiday travel, and set yourself up for financial success in the new year while also staying within a budget, building credit, or accumulating cash back. Become a Golden 1 member today and find the right credit card for you this holiday season. Did we mention that all cards have no annual fees? The best part, cash back earnings are automatically deposited into your savings account. Golden 1 also offers many financial wellness resources to help you manage credit responsibly.

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