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December 8, 2014

Here's how to avoid racking up big holiday debts

By ALEX VEIGA
AP Business Writer

Using credit to tackle your holiday shopping can be tempting. And offers of a discount for opening a new account, or interest-free purchases for a year or more make it more enticing.

But relying on credit without a plan to pay off the debt quickly can easily cost you more in the long run. Carrying higher balances for several months could lower your credit score, making it more expensive to refinance your home, buy a car or qualify for other loans.


 
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