Putting A Freeze On Your Credit Card Spending
Want to put a freeze on your credit card spending due to current financial problems? While I can sympathize with your situation, it’s hardly the best way of going about things.
Why did you get a credit card in the first place? Let me guess:
- convenience of buying products without cash
- using it to automate bills and payments
- being able to go cashless during trips and vacations for security reasons
- buying items online
For the most part, none of us probably started on the road to credit cards thinking it will ever get us into debt. If your credit card use has led you to some unwanted results, freezing your credit card spending is hardly the best way to go about it. Instead, it’s time to impose self-discipline and find a way to get your credit card to work for you again.
- pay down your debt
- avoid charging anything on any card with revolving balances (while you’re still paying it down)
- use “clean” cards to make your life easier, but pay them in full monthly
- don’t charge any luxury items on the “clean” credit cards; instead keep them for payments that actually save you time and money.
Getting into debt doesn’t mean you should put a pause on your credit card use. All it means is that you have to change your behavior and manage it better. Of course, it’s all easier said than done - things are undoubtedly difficult once it’s you on the receiving end of frighteningly large interest rates. It’s not impossible, though, so don’t hesitate to take it one step at a time.
