When credit card rewards are used as a carrot to get you to spend more, you're asking for trouble. Here are some common-sense suggestions for steering clear of the perils of credit cards and benefits program spending.
Always know what is going on
Right off the bat, the most logical way to make sure that you aren't letting your charge card spending run amok is to reign in the spending and pay attention to what is going on your charge card bill. Waving the magic plastic doesn't mean that you won't be paying with interest in the end - or in full. Knowing how much you are spending and the way much you owe are imperative.
Write it all down
Write down all your credit card spending to monitor it. If your charge card offers an online program of sorts, try that.
Keep you are your receipts
It is always a good idea to keep your receipts in case you need to return something, but it is even better to keep them so you can keep good track of all your spending. You can keep away from writing things down on the spot.
Use a site to help
You can monitor your spending at Mint.com where there are cash management tools. Sites like these could be linked to your credit card, so you can keep track of spending.
An additional checking
Make sure you set up a checking account that is there specifically to pay off the charge card in case you are having serious problems. The free account should be a second account and only for your credit card.
Avoiding extreme credit card rewards spending step No. 6 - Pay weekly
Some people like to pay their credit card bill every month, but it is much better if you can pay it off every week. It is a good idea to make weekly payments so you can spend as much as you need on the card and still get benefits while avoiding extra interest.
Always know what is going on
Right off the bat, the most logical way to make sure that you aren't letting your charge card spending run amok is to reign in the spending and pay attention to what is going on your charge card bill. Waving the magic plastic doesn't mean that you won't be paying with interest in the end - or in full. Knowing how much you are spending and the way much you owe are imperative.
Write it all down
Write down all your credit card spending to monitor it. If your charge card offers an online program of sorts, try that.
Keep you are your receipts
It is always a good idea to keep your receipts in case you need to return something, but it is even better to keep them so you can keep good track of all your spending. You can keep away from writing things down on the spot.
Use a site to help
You can monitor your spending at Mint.com where there are cash management tools. Sites like these could be linked to your credit card, so you can keep track of spending.
An additional checking
Make sure you set up a checking account that is there specifically to pay off the charge card in case you are having serious problems. The free account should be a second account and only for your credit card.
Avoiding extreme credit card rewards spending step No. 6 - Pay weekly
Some people like to pay their credit card bill every month, but it is much better if you can pay it off every week. It is a good idea to make weekly payments so you can spend as much as you need on the card and still get benefits while avoiding extra interest.
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