Does cutting your credit card really result to financial discipline?

  1. justmakingmoney profile image58
    justmakingmoneyposted 7 years ago

    Does cutting your credit card really result to financial discipline?

    Any more creative and effective ways to cut on excessive spending using your credit cards other than tearing them down?

  2. Rochelle Frank profile image94
    Rochelle Frankposted 7 years ago

    Yes, one  effective strategy is to pay off your balance every month.
    You can even pay more than your balance, so that your card is credited for at least part of what you expect to charge in the next month.
    In short, don't buy more than you can afford to pay for.

  3. Which4u profile image60
    Which4uposted 7 years ago

    Try to be clever with your credit card and take advantage of the best 0% balance transfer deals, this way you can move your debt across, pay a small transfer fee (much less than standard APR's) then divide your balance by the number of zero percent months and pay this off each month.

    I believe the longest 0% cards offer 16 months. Check out your options on one of the money comparison sites such as http://www.which4u.co.uk/credit-cards

 
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