Tips to cut down on credit card bills

ZANESVILLE, Ohio–People across Ohio are opening their mailboxes after the holidays and might be surprised to find some hefty holiday credit card bills.

A new study estimates Americans spent over $11,000 throughout the holiday season, which is over $100 more than last year.

Rob Rutkoski, deputy superintendent for the Ohio Department of Commerce, said it’s important to tackle interest rates first and then make a plan to pay off the debt. 

“If you end up with credit card balances that are high, if you have a home equity line of credit, you can pay them off with that and then you might be going from 18% to 8%. And that’s a significant drop in interest rates, and you’ll pay less over time,” Rutkoski said. 

The department of commerce also recommends a no-spend month. Challenge yourself to only buying necessities, like groceries, rent and transportation for a month. 

When the credit card statement comes, check for things out of the ordinary. If you notice something odd, contact the card issuer to cancel or put a block on your card. 

“The first thing you do is call the issuer and have them stop, block and reissue,” Rutkoski said.  “[It’s] what the standard method credit card companies use in dealing with this.”

You should also update your password and security information in cases of fraud to protect the account.  

This story was submitted by WHIZ News Intern Alison Patton.