Don't start swiping just yet...

With the first snow fall of the season occurring today, there is no doubt that winter is very quickly approaching. The beautiful winter wonderland outside reminds us that the holidays are officially here and that for many of us, we will be tirelessly swiping our credit cards in order to celebrate a joyous holiday season. However, before you begin pulling out your credit cards, you may want to read the latest information we've found on which credit cards you do not want in your wallet, especially during the season of superfluous spending.

According to Time.com and a study conducted by Cardhub.com, these are the five credit cards you should be sure to avoid...

• Visa Black Card - The Visa Black Card seems very similar to other "black" cards, such as the American Express Centurion. However, as Time.com reports, "It comes with a hefty $495 fee — and you don’t really get all that much for your money, according to CardHub, which labels it the worst general consumer credit card for rewards among the 1,000-plus it evaluated" (Time article).  In addition to this, the card offers one point per one dollar spent while many other cards offer two points per every one dollar spent.
• Best Buy Reward Zone Credit Card - While it generally isn't a great idea to invest in retailer-issued credit cards, this particular card is especially bad. Along with the usual low credit limits and high APRs associated with most retailer-issued credit cards, the Best Buy Reward Zone Credit Card has apparently burdened people with massive amounts of accumulated interest for years. According to Time.com, "The APR... default rate is 29.99%" (Time article).
• UBS Preferred Visa Signature Credit Card - Similar to the Visa Black Card, this card has a $495 per year fee and, according to Cardhub.com, "This card has the highest introductory balance transfer APR — 9.99% — of all the cards it evaluated, and it also charges a separate 3% balance transfer fee" (Time article). Despite its benefits of having no foreign transaction fees and accelerated rewards on gas and groceries, these pros do not outweigh the clear pitfalls of this card and these perks can be found with many other credit cards.
• Apple Barclaycard - Although many, many people love Apple and all of its revolutionary and entertaining products, the Apple Barclaycard is not as revolutionary or as wise of an investment. According to Cardhub.com, "The current APR on this Visa card, which is issued by Barclays, is a variable 22.99%, even if you have stellar credit. Like the Visa Black card (also issued by Barclays), the penalty rate on this card is a whopping 30.24%" (Time article). Though the card offers many "perks," all of these perks are widely used by other credit cards.
• First Premier Bank Gold Credit Card - Many Cardhub.com experts flagged this particular credit card as being a bad choice for any consumer. The APR is an aggregious 36%, and in addition to that payment there is still an annual fee to pay. While many who do not have good credit scores may see this as a viable option because it is easier to achieve, the experts at Cardhub.com do not recommend this card: "It even charges cardholders a “credit limit increase fee” of 25% of the amount of the increase. Even if your credit is poor, you can likely do better" (Time article).

There are many scams and bad deals waiting for all of us out there, especially during the holiday season. However, if we take the time to educate ourselves and become more financially literate, we can avoid these money-eating options and have a happy and affordable holiday season!

Happy shopping and happy holiday season!
Savvy Student