Being a Smart Consumer During The Holidays

Greater Rochester Area Real Estate Podcast with Brad Saarela

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A lot of people use their credit card when they do their holiday shopping for their families. It's tempting to sign up for the store credit card when they offer a major discount, but the truth is that these cards usually max out instantly, and your score will then drop 30-40 points.
If you have to use a credit card, it's best to use multiple cards and keep each card below 30% of the balance. This will help to keep your risk low.

Using your equity line is another risky thing to do. Your line of equity is the same thing as a credit card that you use against your home, so you're not really getting anywhere by doing this.

I recommend taking out a small loan against your car because that won't hurt your credit. You can buy plenty of Christmas gifts with that money, and it won't hurt your credit because it's backed by collateral.
If you have any questions about buying or selling this holiday season, please don't hesitate to contact me. I look forward to speaking with you!