It’s much easier to overspend with a credit card than cash. You go to the mall to buy just one item with your card, but you end up spending more than what you’ve planned.
When you exceed your limit, the bank will charge you a fee ranging from P500 to P1,500. That’s just one painful consequence of maxing out your credit card.
Asking the bank for a credit limit increase, on the surface, seems like a good way to prevent a maxed out credit card — but it will just push you to spend more. Avoid this credit card mistake with our tips.
For more finance tips, visit Moneymax.