Holiday Credit Card Pile-Up

First, the good news: According to a survey by Consumer Reports, more than three out of four holiday shoppers planned to buy at least some of their gifts with cash. That's not just good news -- it's great news for the average household budget.

Now, the mixed news: About half of the people surveyed plan to put some gift purchases on their credit cards. That's fine for everyone who plans to pay off their cards when the bills arrive in January. Almost 60% of us deserve an extra trip under the mistletoe for having such financial savvy.

However, about one-fourth of holiday spenders using their credit cards this month do not plan to pay off their bills until March or later. That means interest charges will pile up, especially if the charges pile onto pre-existing balances. How much will those gifts cost consumers in the end? Let's run the numbers.

Read more at: Holiday Credit Card Pile-Up