Tricks To Master Your Credit Cards

The temptation is great and lies deep within all of us. No, I am not a preacher telling you that God is great; I am simply talking about getting the control over your credit cards (a.k.a as devil’s minion ). Have you ever get that urge to buy something and not thinking if you could afford it or not? Have you ever pull out your credit card faster than a gun to “break in” a store? If you answered yes, keep reading as we are offering you ways to master your credit card.

Low limits

While keeping low credit limits on your credit card seem basic, it will definitely help you out spending less. If you pay your bills on time, you will eventually receive offer to increase your credit limit on your credit card. Once you have the offer, give a call to your credit card customer service centre and ask to keep your limit to $500 and take you out of their mailing list. Therefore, you will keep your credit card limits lower and avoid any temptation.

Keep only 2 credit cards

Take your wallet can rip off all credit cards except 2. I would suggest that you keep two different credit card companies (Discover, MBNA, Mastercard, Visa or Amex). You should have a main credit card that gives you rewards point (or cash) and a back-up in case your first one doesn’t work, get stolen or that the store doesn’t accept it.

Pay your bill fully

By paying your credit card bill fully each month, you ensure some financial discipline. It may be hard when you get the bill but if you do it as your primary obligation, you will automatically think twice before pulling out the “magic” plastic card.

Create a savings account

If you can keep up with your spending, you can create a savings account and deposit money every time you make a purchase with your credit card. Therefore, it will have the same effect as if you had paid cash, but you will improve your credit score, earn reward points and learn how to master your credit card.

Keep your budget up-to-date

Another trick to keep an eye on your credit card is to update your budget on a daily basis. Keep all your bills and enter them on a budget software at the end of the day. Therefore, you’ll know