'Keep track' of credit card purchases
Maintaining a record of credit card purchases is an effective way of keeping finances in order, it has been suggested.
In an article for online resource DebtSmart, sector commentator Jeffrey Strain explains this allows people to ensure they are always well below their limit.
He notes it is important to keep a "cushion" on a credit card to allow for any significant and unexpected purchases that have to be made.
The analyst suggests consumers could think about investing in an emergency credit card which is only used in emergencies.
He concludes: "The main reason that people breach their credit card limit is due to an unexpected emergency. To avoid this from happening, keep an extra credit card tucked in the back of a drawer."
In recent days, Erica Sandberg recently wrote on CreditCards.com that people should use their cards for appropriate, larger purchases and resist the urge to use them on a daily basis.
Posted by Jack Ramsay
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