USA United Cash Loans Suggests Not Maxing Out Credit Cards on Black Friday

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Many consumers, especially those using credit cards, spend much more money than they can afford during the holidays. Simple planning and preparation can help consumers avoid spending outside of their budget.

While there are many opportunities for consumers to receive products at deep discounts while shopping on Black Friday, at least one lender is advising consumers to avoid using plastic on the busiest shopping day of the year.

USA United Cash Loans, a company with a great deal of experience in the lending business, has strongly urged consumers to avoid maxing out their credit cards when they do their holiday shopping.

“It is very easy to go over budget when using a credit card, especially when shopping during the ‘feeding frenzy’ that many consumers experience on Black Friday,” said a representative with USA United Cash Loans. “It is important to have a limited budget, and sometimes it is best for consumers to have that limit in the form of cash. With plastic, it sometimes doesn’t seem real to the consumer until they see their monthly bill.”

The advice is sound. There have been a number of studies that have been conducted on consumers who use credit cards and those that use cash. In almost every instance, the consumer using the credit card spent much more freely and was much more likely to go over budget than the consumer that was using cash.

“I am not sure what it is about consumers and plastic,” said the representative. “But there is a very good reason why the credit card business is so lucrative, and the unchecked spending that occurs on days like Black Friday is one of those reasons.”

It seems that many consumers get caught up in the holiday spirit, choosing to worry about the expense after the holidays so they can give generously to family and friends. The representative cautioned against this, saying, “You do not have to go over your budget to please your family and friends. You can take care of everyone on your list if you plan your shopping in advance and in accordance with a strict budget.”

The other factor that seems to play a role is the aforementioned “feeding frenzy.” It seems that many shoppers spend more on gifts because they are influenced by all of the people spending money on gifts around them. “One of the reasons these big sales are so successful is that so many people are drawn to them. It creates a competitive atmosphere where consumers frequently act hastily so they don’t miss out on an item. Obviously, this is foolish.”

USA United Cash Loans does not provide loans of any sort. This information is only to be taken as informational, not factual. This information is for educational use only, should not be taken as fact and is solely our opinion.

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Robert Thompson

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