A credit card can still be used for good. It’s just the matter of your attitude towards it. Here are 3 tips to help you manage “the card”.
#1 You only need 1 credit card.
You really just need one credit card that you can fully pay. If you find yourself having another credit card because the other one is maximized, then obviously, you are spending more than what you can actually pay for and this can lead to uncomfortable financial situations.
Choose one that actually reflects your lifestyle as of the moment. Each credit card can actually give you benefits when you use, so make sure that the benefits that you do get is something that you will use.
#2 Match your credit card’s maximum credit with your present salary
Check your credit card’s maximum credit and see if it actually matches with your salary. If it’s blatantly over it, re-think if you can actually be in this much debt right now (not in the past and future, but just now).
If you know you can’t, have it lowered to how much your salary is right now and just apply for a higher maximum when you can afford it. This way, you won’t end up overspending and worrying about where to get extra money to pay up.
#3 Keep a log book of your credit card purchases
It’s easy to lose a receipt or keep piling them up not knowing how much it really is in total. Solution? Just write them down or take a photo of it and store it in an album. At the end of the week total everything and see if you will still be able to pay for it at the end of the month. If it’s not or you have reached your personal limit, leave your card at home and just carry it with you again after you have paid for everything.
Note: make sure that you keep all of your receipts log book safe or delete them after you have totaled it. This is to keep your information safe and secured.