The 5 worst credit card mistakes

Credit cards, we use them for the majority of the more spendy items we choose to buy. They work great for people who cannot pay right on the dime and are fully aware they will have the money at the date the amount is due. Sometimes we can make mistakes when we do not fully understand credit cards and how they work. These are the mistakes that are most common.

Going past the fine print –

This is very important! One of the biggest common mistakes is not reading the fine print on the card. You will understand the interest rates and the card’s boundaries and limitations. if you read the very small text. Yeah it sounds like its cheating but if you are responsible enough to have this card, make sure you know every little detail about it!

Making just a lowest amount of payment every time –

Did you know you are inviting higher money charges every time you just pay the lowest fee on that card? The amount will stack up and you will have to pay the price, literally. Do not get lazy with your credit card, pay amounts in a good format that works for you, but do not let it add up slowly by choosing a minimum payment every time it draws near.

Being late with your bills –

Credit bills are no laughing matter, you can go deep in dept with the late charge fees that they place on you. This can prove if you are accountable enough to own such a card. You cannot be late with your payments, make a good schedule and be aware of when you need to pay off that credit card! A good thing to go for is putting your credit on automatic at your bank, that way it will pay the bill automatically each and every time with no minimum fee or late fee.

A refusal to look at your statement –

It may sound scary to deal with but you need to take a look at your statement every time the bill comes rolling along. You could miss out on important news about a new charge that the bank and credit company is making or even a lower new interest rate, as well as knowing the next date for the next payment!

Overspending on credit –

This is one of the most common mistakes, buying too many things on credit that you cannot surely pay on time. This is the worst thing to do on a credit card and people with a shopping addiction of any kind should stay away from credit and stick with a debit card until they feel they can overcome this process!

Having a credit card means you are capable of decisions and aware of the actions that you are accountable for. –Annalyn Andriyenko, http://www.helium.com/items/1964136-wor … d-mistakes