EL PASO, Texas -- With all of the sales going on all around town, many of you are spending a lot of money, but it's the way you pay for those gifts that may affect you in the long run.

If you’re pulling out the plastic to pay for gifts this holiday season you may want to hold on, you could get hit with some unexpected fees or rate hikes.

"Most companies have a clause in their contract that says that they can raise interest rates, fees at anytime for any purpose,” said Pamela Banks from the Consumers Union.

In this uncertain economy, Bank says even customers who pay on time could get hit with higher interest rates. Credit card companies set rates based on risk, so charge too much, miss a payment or carry a large balance for too long and your contract could change.

That's why some El Pasoans prefer to use the paper.

"I've got the cash and I’d rather use the cash instead of putting it on credit cards. So yeah cash. Everything I bought today is cash and I’ve spent already $400,” said Denise Vega of West El Paso.

"70 percent of consumers plan to use debit cards or cash, rather than credit cards this holiday season,” said Scott Krugman from the National Retail Federation.

But there are those who just can't help using the plastic.

"That way I can be surprised when the bill comes in as to how much I have actually spent,” said another shopper, Julie Munoz of West El Paso.

If your rates do go up, call your credit card company and be persistent.

"Dont give up after your first attempt to contact your bank and they tell you, 'no we won't reduce your interest rate,' call back ask for the supervisor,” Banks said.

According to the American Bankers Association, about 75 percent of families have more than one credit card, so the temptation to charge it this holiday season is just too great.