Just a week before Christmas and Morning Mike caught up with Paul Oster, the CEO of New Jersey-based credit repair firm Better Qualified to discuss “Managing Your Holiday Spending Budget.” For many Americans, those holiday deals add up to a mountain of debt come January. Oster shared, “Thirty percent of your credit score is based on what you use. If you max out your card, your credit score is going down, which means higher interest rates.” He suggested making a list with a definite plan for spending, paying with cash when you can, and using a pre-paid debit card online for security. Oster suggested that if you can’t pay off what you bought within three months, interest charges wipe out all of this great bargains you think you got. For more info, check out betterqualified.com.
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