In the past, it was common for debt consultants to recommend that those struggling with debt avoid the use of credit cards. Today, with an increasingly online buying economy, not having a credit card can cost you money.
The expert debt consultants at 4 Pillars recognize that trying to live your life and not use credit cards for online purchases or for selected in-person purchases is extremely difficult. To help consumers in the Victoria area to effectively manage their credit card accounts, here are some helpful suggestions from 4 Pillars debt consultants:
• Use one credit card – multiple credit cards make it easy to juggle spending and not realize how much credit you are using. Choose one credit card and use it exclusively for all purchases.
• Look at interest rates – not all credit cards have the same interest rates. Read the fine print and look at the rates after the introductory period when making a comparison.
• Consider a debit card – Victoria banks and financial institutes offer a variety of debit cards. These can be used online, and they offer the same level of security and protection as credit cards. Debit cards have no interest and also immediately withdraw the funds from your account.
• Avoid impulse buying – it is easy to buy more than planned online, particularly when businesses offer extra savings once you make a purchase. When using a credit card online, 4 Pillars consultants recommend limiting your purchases to specific items or a specific dollar value.
Talking with a debt consultant can help in learning effective techniques and strategies to manage your spending habits and control credit card use.
