Why Your Credit Score Hates Halloween, Thanksgiving and Christmas
You and I might revel in the crisp autumn weather, but your credit score hates this time of year. The reason? Starting in October and continuing through the next 90 days, many households dramatically increase their spending.
Halloween requires candy and decorations and costumes (and, probably more candy if you ate the first batch) — Thanksgiving requires turkey and all the fixings (and maybe more candy) — Black Friday is a spend-happy time to get great deals on gifts (and on the things you’ve been wanting to buy all year) — Christmas requires gifts, stockings and more.
Those are just the “regular” days that most people celebrate. If your family has a birthday or celebrates other social or religious holidays during this time, it increases spending even more. Your expenses might also rise this time of year as you run your furnace, put winter tires on the car, and book a vacation to a warmer climate. October through December is 90 days of fun, festivity, candy and turkey — it’s also 90 days of spending.
If you’re not paying cash for everything, credit cards are the easiest way to spend during this season.
There’s also another reason that your credit score hates this season: Everyone is so busy with special events and pageants and banquets and holiday parties that we tend to put a lot of our good habits on hold — including the good habit of focusing on maintaining and boosting our credit scores.
By the time January rolls around, we realize that we need to tack “Rebuild Credit” onto our New Year Resolutions — somewhere between “Lose the holiday weight” and “Eat less candy.”