“Sleigh" Your Holiday Debt: A Strategy For Spending This Season

How does that song go again? “Debt the halls . . .”

No, no. “Deck the halls with . . . bills of folly?” What’s happening here? 

When the most wonderful time of the year rolls around, there is very real joy in buying presents for the ones we love. But when enough debt piles up, we forget about decking the halls with boughs of holly because we know we’re fa-la-la-la losing money. 

According to a survey conducted by LendingTree, 35% of Americans took on holiday debt last year, with the average debt amounting to $1549. A WalletHub survey found that 1 in 4 Americans still carries that debt from the 2022 holiday season today.  

If this sounds all too familiar, and you’ve already paid for this year’s presents with multiple credit cards with high interest rates hovering around 30%, you might already be struggling to celebrate the season. It can be challenging, after all, to keep track of your spending when you’re using multiple cards that all have different rates.

Fear not, however—we bring you tidings of comfort and joy!

Did you know you can transfer your credit card balances to one card to keep things simple? If you already know this is possible, you may be hesitant to make this happen because you’re also familiar with balance transfer fees.  

At Millstream Area Credit Union, however, when you apply to transfer your balance to our Millstream Visa Platinum Credit Card, there is no balance transfer fee. How’s that for verification that you’re on Santa’s “nice” list this year?

In addition to no balance transfer fee, there is also no annual fee associated with this card, which features competitive rates as low as 15.50%. 

When you give, you also get something in return when you use this card. As you buy your loved ones presents this holiday season, you earn points for every dollar spent through the uChoose Rewards program. These points can be redeemed for cash, gift cards, travel, and more. 

Best of all, instead of using multiple credit cards that have been issued by intimidating institutions that treat you like a number, you can take comfort in the knowledge that you’re using a card issued by your credit union—a place where people know you by name and care about your financial future. 

At Millstream Area Credit Union, you’re a member of the family, and we want to see you succeed. More importantly, we’re here if you need help, and you can call or visit us anytime if you want to talk about “sleighing” your holiday debt. 

With all of these factors working in your favor, you’ll be able to focus on celebrating the season. You won’t find yourself singing about “jingle bills” when caroling with loved ones.  

These are all good reasons to give yourself the gift of a credit card that will free you up to buy presents for your loved ones this year without racking up debilitating debt. Apply for a Millstream Visa Platinum Credit Card today, and talk to us about your fee-free balance transfer. We’ll make it happen for you, and we’ll wish you happy holidays, too—because that’s how family members treat one another this time of year!

*Credit qualifications, terms, and conditions apply. Annual percentage rate is determined by credit score.