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December 19, 2011

Happy Holidays: Holiday Season in America

Facts and Figures behind the Holiday Season

By Andrew Green

Highlights

26% of respondents to a survey by Discover said they would buy with credit, a 3% uptick from 2010.
$3.5 billion will be lost this holiday season due to return fraud
Nearly 4 in 10 retailers have experienced people returning items using counterfeit receipts.
$983 million worth of Christmas tree ornaments were shipped from China to the U.S. between January and September 2011.
While 56% of respondents said they will give clothing, only 48% said they'd like to receive clothing.
Compared to 51% of respondents who said they'd like to receive electronics. Only 43% plan to give electronics.

A Happy Holiday Season Means Staying Out of Debt

With 14.1 million adults still carrying last year's holiday debt according to a recent survey by Consumer Reports, the experts at CreditDonkey recommend the following tips to help consumers stay out of debt this holiday season.

Use your rewards and points for holiday shopping. Make sure to use your reward points before they expire.
Many credit cards offer introductory bonuses upon first purchase. If you plan to pay off your balance in full, consider signing up for a credit card with an introductory bonus.
Some credit cards offer 0% introductory APR for a limited time. If you plan to carry a balance, consider comparing your existing cards APR to introductory offers. Make sure you pay off the balance before the introductory period ends.
The best gifts come from the heart. Consider making some of your holiday gifts. Or donate your time to help friends, family and causes you care about.
It's OK to re-gift new, unopened gifts in good condition - as long as you can avoid offending anyone and it's something the new recipient will love.

Happy Holidays from the team at CreditDonkey. Thanks for your support in helping consumers make informed credit decisions.

(Research by Andrew; Graphic Design by Anita; Additional Writing by Kelly)

Write to Andrew Green at andrew@creditdonkey.com

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Comments about Happy Holidays: Holiday Season in America

Sergio Felix from Sinaloa
on December 22, 2011 1:53 PM said:
Amazing infographic!

I did use a gift box I received from someone else but it was a in perfect conditions! lol

I did not use any credit this time to buy gifts although I was planning to get an iPad 2 and they had run out at the store... *poker face*.

And last but not least, I'm happy that I'm debt free with my cards right now but I still have a LOT of debts to keep up with.

Hopefully I'll be able to return somehow to debt-free for good on 2012 and if I not succeed, you can be sure at least I gave all my efforts on it! hah!

Sergio

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