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Avoid These 4 Black Friday Blunders

Nov. 10, 2017
Black Friday, Personal Finance, Shopping
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Thanksgiving is exciting, but getting a great deal on Black Friday can be a treat, too.

Just don’t let that thrill turn to disappointment by missing out on an amazing credit card perk or spending more than you should.

If you’re gearing up for a shopping extravaganza, avoid these four common mistakes.

1. Opening a store card

There’s a good chance an employee will ask you to sign up for a store card in exchange for an additional discount. As tempting as that may be, it could hurt your wallet.

Store cards can damage your credit, surprise you with high interest rates and charge you retroactive interest if you don’t pay off the balance completely by a certain time.

2. Forgetting about rewards

Don’t forget to swipe your rewards credit card for that new iPhone or fancy coffee maker — that way, you can maximize your points or get cash back.

If you don’t have one, use our credit card comparison tool to find out which rewards credit card is right for you.

3. Falling for flashy discounts

Black Friday sales can be tricky. Retailers sometimes inflate the discounts and pull other pricing tricks.

Always read the fine print on deals. And don’t buy something just because it’s supposedly 60% off. Compare its regular price with its sale price yourself — and find out how the item is priced at other stores.

4. Not setting a budget

Are you an impulse buyer? Do you tend to go all out for Black Friday and suffer later? It’s OK to jump on good deals, but stick to a monthly shopping budget — and anticipate spending more on Black Friday by cutting back during the rest of the month.

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