NEW YORK ( TheStreet) -- Don't worry frugal, recession-shocked Americans: It's OK and sometimes beneficial to do your holiday shopping with a credit card.This summer, as holiday savings and layaway programs began, the American Express (AXP - Get Report) Spending and Savings Tracker found that 75% of Americans had either maintained or lowered their debt in the first half of the year and planned to save an average of $12,000 this year. Meanwhile, the Commerce Department noted that Americans saved 5.9% of their disposable income in the second quarter. Even as families with incomes of more than $100,000 increase by 400,000 this year and are poised to contribute an extra $1.1 billion to the holiday season's shopping, according to a survey released yesterday by American Express Publishing and Harris Group, their predicted average holiday spending of $2,093 this year is down roughly 1% from last year.
Credit Cards That Pay For Holiday Shopping
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.