WUFT News

Credit card debt, identity theft rise during holiday season, financial adviser says

By and on December 3rd, 2012

Since before Thanksgiving Day, shoppers have been pulling out their credit cards in stores across the U.S., with the holiday season now in full swing.

Anthony Caputa is a personal finance counselor for Genesis Financial Management, a nonprofit debt management company. He said this is the time of year many lose control of their spending.

He recommended people use debit cards, which spend actual money an accountholder has. Credit cards can also charge higher interest rates.

“Only spend what you have,” Caputa said. “We all like to buy Christmas presents for loved ones, but you don’t want to spend too much. And that’s usually where people get in trouble with credit cards because they think they have more than they really do.”

He said young people should use credit cards to build up good credit, though, as long as they don’t overspend.

Caputa advised shoppers to construct a reasonable budget for the holiday season and stay within those boundaries when going to stores.

He also cautioned shoppers to be careful carrying physical cards. Both young and old cardholders are susceptible to identity theft.

A new card-reading technology can grab a card’s numbers through a person’s wallet. He said to put wallets in jacket pockets or keep them in purses, rather than on outside pants pockets.

Caputa said if your identity is stolen, call credit bureaus for fraud alert, call the Social Security office and file a police report to ensure you are not responsible for money stolen.

 


This entry was posted in Business, National and tagged , , , , , . Bookmark the permalink.
 

More Stories in Business

Cory Wise (left) and Courtney Buckley (right) work together to clean a residence. Wise and Buckley work for Student Maid, owned by Kristen Hadeed.

National Organizations Encourage Female Business Owners

What started out as a cleaning job to pay for a pair of jeans turned into a booming Gainesville business. Since then, business owner Kristen Hadeed’s cleaning company, Student Maid, has been successful and is growing daily.


First Magnitude Brewing Company in Gainesville fills growlers in the 32-ounce size (left) and the gallon size (right). A longstanding ban on the popular 64-ounce growler prevents Florida craft breweries from filling or selling containers of that size.

Florida’s Craft Beer Industry Sees Growth Despite Growler Ban

Florida brewers are thriving despite a controversial law that prohibits the sale of 64-ounce beer growlers. A lawsuit calling the limit unconstitutional could change all that.


The Blanche Hotel is proposed to undergo a $14 million renovation to bring more businesses to downtown Lake City.

Historic Lake City Hotel to Undergo $14 Million Renovation

A project to renovate the historic Blanche Hotel in downtown Lake City will soon be underway. Lake City Mayor Stephen Witt said he is hoping the renovations bring new allure to downtown Lake City.


A Season’s Waste Makes Wine

Island Grove LLC., a Hawthorne berry farm, made a partnership to found a winery that makes use of the berries left in the fields at the end of the season that would have been frozen or thrown away.


GRU

Gainesville Hires Third Party for GRU Audit, Examines GREC Contract

Gainesville Regional Utilities will be audited by a third party to investigate a 30-year contract between the company and the owners of a biomass plant.


Thank you for your support

WUFT depends on the support of our community — people like you — to help us continue to provide quality programming to North Central Florida.
Become a Sustainer
I want to support FM 89.1/NPR
I want to support Florida's 5/PBS
Donate a Vehicle
Day Sponsorship Payments
Underwriting Payments