Retailers Pull Out All Stops To Get You In Store

NEW YORK (CBS) ― If you're trying to figure out how to pay for everything on your holiday list, this year you have a lot more options. Retailers and credit card companies have found ways for you to shop and save.

Emily Adams usually goes all out on holiday shopping, but not this year.

"It's very important that I watch every single penny that leaves my wallet," Adams said.

In fact, 59 percent of consumers are planning on downsizing their spending this holiday season. To entice you to open your wallet stores and credit card companies are getting creative. Some retailers are offering up to 25 percent off on an entire purchase if you open a new card.

At the Gap, Sears, Old Navy, Banana Republic and Macy's existing card-holders get extra savings, coupons and bonuses.

"If I can get a deeper discount this season because of the tough economy, I probably will," Adams said.

Kmart and Sears recently rolled out a zero percent interest and zero payments until June 2009 program. Online payment sites like E-bill-me, Google checkout and Pay Pal all are working with major retailers to offer instant holiday rebates, discounts and even deferred payments.

"Not having to pay anything for 90 days is great, but just be sure you have the money at the end of the 90 days because you'll get whacked again on penalties and interest," said Sally Greenberg of the National Consumers League.

But there is an impact on your credit when choosing these options; your score may fall. And check interest rates closely because they may rise after a low introduction and store cards typically carry much higher rates, as do many traditional credit cards.

"Credit card issuers raising interest rates on customers who have never been late on a single bill and these interest rates are sometimes 22, 29 even 36 percent," said Gerri Detweiler of Credit.com.

If you want to avoid paying with plastic altogether layaway is making a comeback at major retailers, as well as online.

If you don't break out the store card, traditional credit cards are also offering rewards for holiday shopping like bonus frequent flier miles and points. So check with your Mastercard and Visa issuers.

source : http://wcbstv.com

Christmas shopping? Be careful!

The month ahead will be busy for criminals as well as for holiday shoppers, District Attorney Lynne Abraham and Deputy Police Commissioner Kevin Bethel warned yesterday.

"There is always somebody looking to separate you from your money; the best course of action is prevention," Abraham said at a news conference at which she and Bethel shared strategies for shoppers to protect themselves.

While Black Friday launched one of the busiest shopping weekends of the year, so-called Cyber Monday - when many holiday shoppers hit the Internet in search of deals this Monday - will offer plenty of opportunities for computer-savvy thieves, she said.

"Nobody is safe from thieves or cyber-crime," Abraham said. "If your identity is stolen, you could spend 18 months to three years in credit purgatory. Prevention is critical."

Her online-shopping tips:

* Use a credit card instead of a debit card. Most credit cards cap liability at $50, while there may not be a cap with a debit card, which is an open invitation for hackers to loot your entire bank account.

* Dedicate one credit card for online shopping only, so that you can more easily track your purchases - and unauthorized purchases.

* Never give out your Social Security number.

* Delete unsolicited bulk e-mail solicitations, which could be computer viruses or scammers. Instant-credit offers and "free" travel vacations often are scams, too.

* Beware of high-pressure sales and online auctions. They may be legal, but you may overpay.

In stores, she said, shoppers also should exercise caution:

* Guard your credit cards closely. A shifty retail clerk or restaurant server could swipe your credit card on a "wedge," duplicating the information on your credit card's magnetic stripe.

* Don't put your purse in a shopping cart; zip it closed, strap it around you and tuck it under your arm. Or carry your wallet in an inside pocket. Passers-by who "bump" into you might instead be skilled pickpockets.

* Stow purchases in your trunk so that they can't be seen and stolen. Park in a well-lighted area. Avoid parking next to vans, in which muggers may be hiding.

* Always accompany young children to the restroom, where unforeseen danger may lurk.

* Going-out-of-business sales: Check a company's policies before buying from one that's poised to close. Many purchases are final sales, no returns or exchanges. Also check to see if the company will honor coupons and previously purchased gift cards.

* Gift cards: Many have expiration dates and progressive fees.

Abraham and Bethel also urged shoppers to avoid these holiday scams:

* Name-a-Star. While it sounds romantic and has become popular, only the International Astronomical Union names stars - and they are not for sale.

source : http://www.philly.com