What Are The Biggest Credit Card Mistakes?

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The past years have showed us that most of us are still not making the best financial decisions and, given the huge amount of credit card debt, we’re clearly making a lot of credit card mistakes that cost us.

In the personal finance blogosphere there are many stories of people who are currently struggling with a lot of debt and a pretty big chunk of it comes from misusing their credit cards (or just being duped by the ‘small print’ and the ‘fear of missing out’ – rewards come to mind).

So, what are the biggest credit card mistakes we can make (or have made)?

  1. Getting a credit card ‘just because everybody has one’
  2. Getting a credit card for the rewards (fear of missing out)
  3. Not reading ‘the fine print’
  4. Not looking for the best rates
  5. Getting too many credit cards
  6. Making only the minimum payments
  7. Paying your credit card bill late
  8. Not checking your monthly statement
  9. Exceeding the credit limit
  10. Getting a credit card to solve your debt issues
  11. Using the credit card to buy all kinds of useless crap
  12. Using your credit card to pay for every-day items
  13. Not knowing your interest rate

Read the entire article on our brand new PFToday.com

 

2 COMMENTS

  1. I would agree with most of these, but I only ever get credit cards for the rewards 🙂 I don’t carry a balance, so I wouldn’t sign up for a card if it didn’t have great rewards. I put all of my spending on the card, reap the benefits and pay it off regularly.

    • Hey, that’s awesome. If you can ‘play’ the rewards game, never lose money in interest or any other fees, then it’s really amazing. The only reason I’d actually consider having a credit card anytime soon. You are one of the few who are disciplined enough to really take advantage of a credit card and never lose money with it 😉

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