Get Your Score in Shape before Year-End Spending Begins
The holidays are a time for celebration and community, but they can also bring bigger bills, longer shopping lists, overspending, and year-end expenses.
It’s not uncommon for Americans to rack up holiday debt by putting items on their credit cards. In fact, a LendingTree article notes that “36% of Americans took on holiday debt” with interest rates of 20% or more in 2024. The article adds that Americans “took on an average of $1,181 in debt” with numbers including their accumulated debt from previous years.
Now is the perfect time to strengthen your credit score and stay mindful of your debt before and after the holidays.
The Value of Knowing Your Credit Score
Your credit score is vital in loan approvals, credit card limits, and even interest rates. Getting it in top form and preparing it before the holiday season sets you up for smoother financial moves. If your score isn’t in great shape, you may face higher interest rates or fewer borrowing options. However, preparing early gives you the chance to:
- Spot and fix errors: Check and review your credit report for mistakes that could decrease your score.
- Pay down balances strategically: Reducing credit card debt can improve your utilization rate.
- Plan your spending: Knowing your score helps you make better financial decisions and budget.
- Credit monitoring: Track your account for potential fraud or changes in credit activity.
Protect Your Credit With AutoPayPlus
We surveyed 45,115 AutoPayPlus Members, the survey results indicate that on average Members perceive that the program helps them avoid 3.88 late payment fees per year with a statistical confidence level of 95% (plus or minus 2.6%). With the average cost of $32 on late fees per occurrence, Members saved roughly $124 per year and prevented a negative impact on their credit score.
AutoPayPlus allows you to pay credit card debt on time, lower outstanding balances, and review your credit report for accuracy. Beyond tracking your score, credit monitoring can act as your early warning system against identity theft, especially during the holidays when there is an increased risk. Use alerts to monitor new account information, changes to your credit report, and activity that could signal potential fraud.
