January 20, 2011

Lower Your Credit Card Limit if you’re Not Disciplined Enough

Opt for a Lower Limit

If you’re undisciplined, in addition to eliminating the majority of your credit cards; lower the limit of your remaining credit cards as much as possible.

You will thus avoid temptation more easily.

For Emergencies Only

At worse, only one card with a 500$ limit should be sufficient. 

It will be enough to cover minor emergencies and to provide a deposit in some specific situation like a hotel reservation or tool rental.  

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