If you use a credit card, there is a real chance that you may get into excessive debt on it if you are not careful. The moment you incur that excessive debt on your credit card, you begin a journey to fix it that will take a lot of sacrifices. Besides those sacrifices, it may even take a few years to successfully fix the mess at hand.

In this post, we will be exploring vital tips that will help guard you from incurring excessive debt on your credit card.

  • YOU NEED TO OWN AN EMERGENCY FUND: Most of the people that incur excessive debt on their credit card do so after an emergency need, like medical expenses or emergency car repair. If you have no savings during these emergencies, you will have to pay for those expenses on your credit card. This clearly highlights the need for you to have some cash saved up for a rainy day. It is important that you set aside an emergency fund if you want to avoid incurring excessive debt on your credit card. This will keep you ready to cope with any emergency that may surface. In simple terms, an emergency purse keeps your farther away from credit card debts.
  • AVOID BUYING THINGS THAT YOU CANNOT AFFORD: When you have a credit card at your disposal, you will need to exercise a measure of discipline to avoid incurring debt on it. This means that you need to buy only that which your purse can handle. Avoid buying things that are beyond your means. When you only buy the things that you can afford, you will not have to borrow money through your credit card. So, the rule here is that you most likely will not be able to afford to charge your credit card if you cannot afford to pay in cash. Click this link to purchase tradelines
  • STOP TRANSFERRING BALANCES UNNECESSARILY: I know that there is pressure on you to meet due dates. However, one of the greatest things you can do to avoid incurring debt on your credit card is to stop transferring balances to try to dodge due dates. This means that you should be disciplined enough to only transfer balances between credit cards if you have a very good reason to do so. If you want to take advantage of low interest rate, you can transfer balances but don’t do it unnecessarily. Hence, the rule here is “no reasonable reason for balance transfer, no transfer”.
  • MAKE YOUR CREDIT CARD PAYMENTS ON TIME: This is by far one of the most important tips that you need to pay attention to if you want to avoid incurring debt on your credit card. Avoid the temptation to make credit card payments late. Secondly, avoid missing credit card payments. You will have to pay higher rates when you miss your previous payment. This means that you will have to pay a late fee and two payments when you miss the previous one. Hence, if you miss one payment, there is a greater chance that you will miss the next.

Avoiding debt on your credit card is possible if you follow the tips above. Never forget that it is easier to avoid incurring debt on your credit card in the first place than it is to deal with the consequences of the credit card debt.