A New Credit Card While X-mas Shopping

Is it weird that when we saw Shakira 💃🏽 dancing in the new “Girl Like Me” video we thought she might be dancing for joy because ‘tis the season for opening tamales, regalos 🎁 and a new credit card 💳? We don’t think it’s weird because the video premiered on December 4, which is prime holiday 🎄season and when we think of the holidays we get excited about tamales, regalos and opening a new credit card. And when we get excited we want to shake it like Shaki.

So, we know you know why we get excited about opening tamales (YUM!) and regalos (YAY!). But do you know why we get excited about opening a new credit card during the holiday season? It’s because it’s the most wonderful time of the year to score killer credit card sign-up bonuses!

What makes it the most wonderful time of the year to get a new credit card as opposed to any other time of the year? Pues, la cosa es que lots of credit cards offer great sign-up bonuses, but in order to get them a lot of the time you have to spend a certain amount of money 💴 within the first few months.

Theoretically, you can sign up for a new credit card and get the bonuses that come with it any time of the year, but guess what time of the year people tend to spend more money? The answer is “during the holidays” because a lot of us are buying regalos for our friends and familia. All that extra money we’re spending makes it easier to meet the minimum spending requirements it takes to get them sign-up bonuses.

BUT, here are some things to keep in mind 🧠before you apply for that new credit card:

🔔 The rewards are only worth it if you are going to pay off what you spend on the credit card in full. In other words, don’t go spending money that you don’t have. Instead, use the new credit card to buy regalos you have already saved money for and then use that saved money to pay off the credit card.

🔔 Only apply for one new credit card! When you apply for more than one credit card, it can lower your credit score. There is nothing rewarding about that!

🔔 You must be responsible. Being responsible when you apply for a new credit card means that you will read and understand the fine print, don’t overspend and commit to paying on time.

A new credit card can come with great rewards and also help you increase your credit score as long as you use it responsibly.

OK, before you take off, don’t forget to sign up for our newsletter to get more credit-building and smart spending tips!

Sources: https://www.businessinsider.com/personal-finance/open-new-credit-card-for-christmas-shopping-2018-10 and https://www.experian.com/blogs/ask-experian/can-you-apply-for-two-credit-cards-at-once/