If you are having a really bad habit in paying for products and services using credit cards but really want to get out of the situation, here is a couple of suggestions on how to curb your spending habit using certain types of credit cards.
I don’t know whether you aware of the facts or not, but not all credit cards are created equal. Credit card companies are launching different credit card offers, and to “fix” your bad spending habit on credit cards, you need to make sure you understand what you apply for.
Now if you already have credit cards right now, I suggest you to switch your type of credit cards to secured credit cards.
You can both curb your spending habit and build a good credit record using secured credit cards. You are required to back your received credit with a form of collateral, such as a savings deposit.
Secured credit cards’ available credit will match the value of your collateral. This way, you MUST stick to the budget, or else, you might end up losing your collateral. A bad situation is always good in curbing your spending habit.
Indeed, secured credit cards work like debit cards. Secured credit cards are also known as prepaid credit cards.
If you can stick to your secured credit card’s limit for a certain period of time, you will enjoy a significant improvement in your credit score, as well as in your spending habit. Then you might be ready for a greater responsibility in spending using credit cards.