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)?
- Getting a credit card ‘just because everybody has one’
- Getting a credit card for the rewards (fear of missing out)
- Not reading ‘the fine print’
- Not looking for the best rates
- Getting too many credit cards
- Making only the minimum payments
- Paying your credit card bill late
- Not checking your monthly statement
- Exceeding the credit limit
- Getting a credit card to solve your debt issues
- Using the credit card to buy all kinds of useless crap
- Using your credit card to pay for every-day items
- Not knowing your interest rate
Read the entire article on our brand new PFToday.com