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Common Credit Card Mistakes
Here are some common credit card mistakes that even high-credit score mavens make:
1. Carrying a balance: Carrying a balance on your credit card can lead to high-interest charges and negatively impact your credit score 1.
2. Using most or all of your credit limit: Using most or all of your credit limit can increase your credit utilization ratio, which can negatively impact your credit score 1.
3. Taking cash advances: Cash advances usually come with high fees and interest rates, making them an expensive way to borrow money 1.
4. Making late payments: Late payments can lead to late fees, increased interest rates, and negatively impact your credit score 1.
5. Chasing rewards: Chasing rewards can lead to overspending and carrying a balance on your credit card, which can negatively impact your credit score 1.
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