Call your credit card issuer to see if they have any holiday shopping promotions when you use your card. For example, from October through December, Discover is offering 5% cash back on up to $1,500 worth of purchases made online, which can save you up to $75. Some card issuers also give you extra cash back or rewards when you visit you favorite retailers through their online portal. If you do use your credit card to make purchases, make sure to pay the bill in its entirety when it's due. 

GETTY/Geri Lavrov

Household debt has jumped 15% faster than income over the past dozen years.

Dominique Hobdy
Dec, 11, 2015

As the holidays kick into full gear one thing on most people's mind is, "how am I paying for all of this?" There are those of us who have saved up for the holiday season but there are many who rely on our credit cards to fill in the gaps. But, a recent study shows that Americans may be relying too heavily on credit.

According to Time, a new study by NerdWallet confirms that the average indebted household is carrying a revolving balance of $15,355.

Although this figure is less than in the recession when the average debt hit $17,000, it has jumped from March 2014 when the average was $14,000.

NerdWallet credit expert Sean McQuay says: “After the significant dip following the recession, there was a lot of talk that Americans were using their credit cards better. The numbers aren’t showing that. Americans are taking on more debt.”

The increase is said to be caused in part by medical bills and the cost of food, but experts also say one of the best ways to cut down on debt is to spend less during the holidays.

We want to know how you use your credit card(s). Is it only for emergencies or do you not have a credit card at all? Do you swipe to snag whatever your heart desires or do you only buy what you can afford at the end of the month? Let us know!

QUESTION:How do you use your credit cards? I'm addicted 3% I only use what I can afford 32% I'm mostly responsible, but sometimes I splurge 42% I only use it for emergencies 15% I don't own a credit card 8% Total votes: 60