Dealing With Credit Hangovers

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For most people, the holidays are a great time of year. Family gatherings, comfort food, and parties with friends -- they all contribute to a memorable and festive period of time. There’s a hidden downfall to the holidays, however, and it’s one which most people would likely rather ignore than confront. That downfall? Credit card debt.

Credit card use is so prevalent during the holiday shopping season that nearly $63.6 billion is charged by consumers around the country during the short holiday span. Take into account that the average household already has $9,000 in credit debt, and the potential for financial trouble is overwhelming.

“Come January, a lot of individuals suffer a sort of ‘credit hangover’ due to their spending habits during the holidays,” states David McElveen, spokesperson for CreditCardSearchEngine.com. “The problem with such a situation is that the effects last much longer than most people think.”

In an article by Consumeraffairs.com author Mark Huffman, it’s reported that 23 percent of Americans are not likely to pay off holiday debt until March or later. That delay means huge profits for credit card companies -- the interest-accruing debt alone equals $14.6 billion.

“The best way to deal with excess debt is to do a balance transfer to low-interest cards,” says McElveen. “At CreditCardSearchEngine.com, we assist individuals in finding cards which offer zero percent interest on balance transfers. It’s the perfect solution to avoiding long-term financial trouble.”

The site provides consumers with a convenient, side-by-side list of cards that helps in the comparison of card features. Everything from introductory APR and regular APR to annual fee and transfer information is listed, as is a brief description of unique card features. Consumers are also able to select from an extensive number of card suppliers, including Visa, MasterCard, American Express, and Discover. Applications are handled online with all information being exchanged over the Web site’s secure network.

“We take the guesswork out of finding the right card for the situation. There’s nothing worse than being in financial trouble, only to make things worse by selecting a card that isn’t right for the circumstances,” states McElveen.

In addition to providing cards designed specifically to aid in balance transfers, CreditCardSearchEngine.com also offers low interest cards, cash back cards, airline mile cards, rewards cards, and a variety of other ‘niche’ cards. The extensive selection is one of many reasons why the company has become one of the most successful credit card sites on the Internet. “We average over 100,000 visitors every month,” says McElveen. “The numbers speak for themselves.”

 

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