What about when your card is near your limit?
Most fully salaried people with a credit card know that cash is king. But having a card with available credit is also king. If you do need to cover that inevitable cash crisis, say an urgent car repair or bill, you need available cash. The best is savings of course. But this is the life of the squeezed middle or lower income earners.
Once your credit was near your limit you might totally freak out. No way. This was not on. And so you would pour every $$$ from every corner into it to ensure one thing and that was to ensure it was there and available for the next emergency.
That meant reducing the balance as quickly as possible by at least $2,000 . Which is about where you need to be for those emergency purposes that happen ocassionally.
This should be factored into your credit card or debt policies at home. Ensuring you are safe from crisis. But eventually, you should build savings to cover this so you don’t need a form of alternative credit.
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