If you constantly find yourself impulsively spending on your credit card, yet dreading to check how much you owe on your statement at the end of the month, there is a high likelihood you are misusing your credit card.<\/p>\n
According to Jonathan de Beer, head of collections at FNB Credit Card, a credit card can be quite convenient and rewarding if you need safe and instant access to cash.<\/p>\n
However, you can easily find yourself in an unnecessary financial predicament if you are not careful with your spending.<\/p>\n
He points out five tell-tale signs you could be misusing your credit card:<\/p>\n
\u201cIf you notice any of these signs or find yourself excessively spending beyond your means, it is not the end of the road, as there are important measures you can immediately take to gradually turn your situation around,\u201d de Beer said.<\/p>\n
The first step is to list all your debt, spend carefully and only when it is absolutely necessary, formulate a realistic budget and stick to it.<\/p>\n
Lastly, try and pay a little extra towards your credit card debt every month.<\/p>\n
\u201cIn extreme debt situations consumers are advised to seek expert advice as soon as possible in order to minimise the impact,\u201d de Beer said.<\/p>\n