Debt Concerns Shape Holiday Spending Plans

According to a study conducted by myFICO, credit card debt continues to be consumers’ biggest financial worry as the new year approaches.

Nearly one third of respondents are cutting back on holiday spending and plan to practice conservative credit behaviors this year.

Only 20 percent will consider opening new credit card accounts, and approximately 65 percent expect to charge less than $500 on their credit cards – a figure that most consider moderate and within their budget.

 

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