Have you set a credit card buffer for your card/s?

blue.peter

bambilegs said:

Hello, does anyone have a buffer on their credit card that they’ve set for themselves that you don’t touch?

Why, why not?

No. I have no need. My credit limits are all set well in excess of my actual usage. At any given time, I'm only utilising something like 3% of my total credit limit at most. What's the point in reserving 25% (or 75%, or whatever) when 97% is unused?

On the other hand, I do have a monetary benchmark against which I frequently compare my monthly credit card spending. That's roughly what I expect to spend in a typical month. I know that if my month's spending is within that, I'll be able to save a useful amount of my income. Then there's a second, much higher, benchmark. I know that on the very rare occasions when I spend this much, I should expect to have to withdraw some from savings to cover it.

Keeping an accurate and frequently updated record of my spending means that I know where I stand financially at all times. (FWIW, I use AceMoney for this purpose.)

All of my credit cards are paid in full each month by DD. That alone keeps my credit card debt down to a comfortable level - as well as saving me from paying interest!