Not So “Blue” Monday for TruWest Credit Union Members
Savvy Consumers Avoid One of the Most Depressing Days of 2014 by Transferring Balances and Consolidating Holiday Debt 

Austin, TX. – Jan. 7, 2014 – Blue Monday is just around the corner for Austin consumers. Termed the “Most Depressing Day of the Year,” January 20 is when holiday overspending and failed New Year’s resolutions are supposed to come crashing down. However,TruWest Credit Union – with four locations in Austin, Texas – reports a rise in balance transfers with more than $700,000 transferred last year. 

“While January is typically a very difficult month for those who  were caught in the frenzy of holiday shopping, we are seeing a very positive trend in the local Austin and regional markets,” explains TruWest VISA Manager Anthony Carpenter. “Each year, we see a record number of new and existing members transfer balances to a TruWest VISA card which essentially provides a ‘free’ holiday loan for 12 months.”

Austin shoppers spent more than $737 each during the 2013 holiday season, estimates the National Retail Federation (NRF). In years past, a significant portion of that spend was funded through a consumer credit card. However, the $700,000 in TruWest balance transfers represents consumers’ savvy post-holiday trending to consolidate debt onto one of the lowest-rate cards in the nation, with no interest paid for a year.

“The increased holiday spend typically results in challenges for consumers,” adds Carpenter. “However, as our members consolidate new holiday debt and existing debt onto a TruWest credit card with zero APR (annual percentage rate) for one year, they no longer feel overwhelmed and can enjoy the New Year.”

How does TruWest recommend others gain the same peace of mind?

  1. Evaluate 2013 holiday overspending
  2. Investigate existing rates of credit cards used to fund holiday purchases
  3. Calculate other high-interest debt currently “floating” on other consumer credit cards
  4. If rates on existing cards are more than zero percent APR for the first 12 months, look for more affordable options
  5. If multiple cards carry multiple debts at a higher rate than zero, it is time to consolidate

“January doesn’t have to be a depressing time of year, despite overspending that may have occurred during the holidays,” assures Carpenter. “Our three VISA credit cards with the lowest interest rates in the industry and other money-saving benefits, means consumers can easily consolidate holiday debt, eliminate costly interest and spread manageable payments across the next 12 months.”

To learn about TruWest’s VISA Platinum, VISA Platinum Points or VISA Signature cards, or to access free credit card resources and debt consolidation calculators, visit or call 1 (855) TRUWEST (855-878-9378). 

About TruWest Credit Union
TruWest Credit Union is headquartered in Tempe, Ariz., and operates as a cooperative to provide its membership with a lifetime of quality financial services and a culture of caring for its members, employees and communities. TruWest is a strong and sound financial institution with more than 60,000 members and assets totaling more than $791 million. TruWest Credit Union has 13 branches – nine in the metro Phoenix area and four in Austin, Texas.

Jill Collins, TruWest Credit Union,