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Top 3 Tips to Utilize Credit Cards without Sinking into Debt

Many of us have experienced the shock of receiving our monthly credit card bill and being stunned by the balance on the statement. While credit cards are a great tool for earning rewards and improving your credit score, they can also be detrimental to your budget if you do not monitor your spending. This could lead you into debt. We’re sharing three things to consider when utilizing your credit cards to make sure you prevent this from happening.

Live Within Your Means
Don’t overspend. It’s as simple as that, yet also requires self-discipline. With rising prices, utilizing your credit card for any expenses that your paycheck doesn’t cover seems quick and easy in the moment, but it can be the beginning of burying yourself in unwanted debt. Make sure you are constantly keeping track of which credit cards you are using and how much you are spending on each. Juggling various spending patterns can be the downfall of a frequent card user and can cause you to overspend without even realizing it.

Consider a Spending Strategy
With overspending also comes the habit of nickel and diming yourself. Those who are not as likely to stay on top of their credit card purchases tend to swipe for virtually every transaction. The downfall of this habit is that you are not making unattainable purchases, but rather not considering the total of your many minor purchases. For example, if you spend $5 for coffee here, $15 dollars for lunch there, and $60 dollars for gas, before you know it, you’ve spent over $100 for the day. To refrain from developing this dangerous spending pattern, create a strategy. Consider giving yourself a spend minimum. Create a hard and fast rule that any purchase under $50 or $100 should be done using your debit card. This will make monitoring spending on your credit cards more streamlined.

Pay Off Your Credit Cards in Full
If you follow our suggestions of living within your means and creating a spending strategy, paying off your credit cards in full each month should be easily doable. While it may be tempting to only pay the minimum amount owed, making the entire payment will be beneficial in the long run. Not only will this save you from paying interest, but it will also allow you to develop a sense of self-control regarding credit card spending habits.

As mentioned, credit cards are a great way to access incredible rewards and increase your credit score, but only if you understand how to utilize them in a productive way. Orlando Credit Union is here to offer you a variety of credit card options along with our Wow! Rewards points program to help you get the most out of your spending. Visit to find out about the many advantages to holding an Orlando Credit Union credit card today.