Home Credit Cards What Are The Worst Credit Card Mistakes You Can Make?
What Are The Worst Credit Card Mistakes You Can Make?

What Are The Worst Credit Card Mistakes You Can Make?


Credit cards are not in vain gained immense popularity among consumers. They can help out at a difficult time when unexpected expenses arise, make it convenient to pay for purchases, since one do not have to deal with cash, and can also help improve person’s credit. At the same time, by allowing the worst credit card mistakes, people can be deeply bogged down in debt and ruin their credit.

The average credit card holder has more than 6 thousand dollars of debts on his credit card, which means that many people still admit the worst credit card mistakes, which lead to a rapid increase in the balance sheet and an increase in debt. To avoid such a turn of events, it is worth understanding what you should not do when using credit cards.

So that you can avoid getting into such a situation, we have specially prepared for you this selection of worst credit card mistakes, which lead to undesirable consequences. Read on to be aware.

To spend money from a credit card without thinking

Many people, getting an additional opportunity, start to spend the money with a credit card on those things that they really cannot afford now, or on those that they really do not need.

Are you resistant to big discounts? Can you resist shopping if you see a price tag with a great discount on the thing you were not going to buy now? If you have problems with this, then maybe you better not get a credit card if you do not want large debts.

Remember that although you don’t hand over money to the seller, you still pay the money, especially credit, for which you still have to pay the interest rate. Make a monthly budget and try to stick to it, that is, spend money only on that you planned.

Making a mandatory payment after the deadline

Try never to miss the date of mandatory payment, since most credit card issuers will charge you an extra fee for late payment. Some of them may forgive you once a delay, but this is not to be expected from many lenders, and even more so with constant overdue payments.

In addition to the fact that you will be charged penalties for late payments, thereby increasing your debt, your credit will also collapse. The credit rating will decrease by several points each time you make a late payment.

If the problem is that you have several loans and credit cards, think about consolidating your debts. In addition, there are now many different tools that can help you not to forget about the time of payment, such as smartphones and others.


Ignoring footnotes in the contract, small print and interest rates

Interest rate is that quickly increases the debt of credit card holders. It provides the creditor’s earnings, but if you are not attentive to this issue, then interest rate can become what will drag you into the swamp of debt.

Always read the contract with the lender carefully before signing it. Be especially attentive to footnotes printed in small print, where special conditions can be described that increase the interest rate.

You must understand all the conditions in order to know what your actions may lead to additional fees or an increase in interest rates. Ask the agent questions for, until each clause of the contract and its meaning becomes clear before you sign the contract.

Misperception of credit cards

Some consumers consider credit cards as a free cash substitute, as well as additional funds for purchases, but this is one of the worst credit card mistakes. It should be understood that you will have to return each used credit dollar, as well as pay the interest rate on top of this.

A credit card is a good tool for financial support in case you don’t have enough money for any purchase at the moment. You should return the money that you paid with a credit card as quickly as possible, so as not to overpay for interest to the lender.

Paying of minimum payments only

In order to avoid penalties for overdue payments, it is enough to make at least the minimum mandatory payment in a timely manner, but if you constantly pay only them, then your debt will not decrease, but only grow.

Yes, there are situations when it is difficult to repay the entire debt, this is acceptable and you can pay only the lowest possible payment, but this should not be a system. You should not constantly pay only the minimum payments and then your debt will gradually decrease and, eventually, you will close it.

Opening multiple cards at once

After you appreciate the advantages and convenience of using credit cards, you may want to open a few more credit cards. Be careful with this desire, because it will also be one of the worst credit card mistakes. First, you will then have to make several payments per month, which will increase the debt burden on your budget, and secondly, you will immediately lose several credit points, this will negatively affect your credit rating.

Failure to build credit

With the help of credit cards you can build your credit, which then will help to make large acquisitions. Credit cards are one of the most convenient and wonderful tools for this. However, some people cannot use them to build a credit, because they do not use them properly, creating a large balance, opening many credit cards at once, paying only minimal payments or making them late.

Change your behavior regarding credit cards and you will begin to improve your credit with them.

Use credit cards to pay other debts

Many consumers decide that credit cards are a great way to pay off other debts. This opinion is wrong and refers to one of the worst credit card mistakes, because they usually have higher interest rates than other types of loans. This can make sense only in the case of debt consolidation with other credit cards and a lower interest rate.

Not checking your monthly statements

You may be terrified when you see how much money you already owe, but the better you will understand this, the more accurate and restrained you will probably be in your spending with a credit card.


If you want to be financially successful in the future, then you need to understand how to handle credit cards and what not to do to avoid worst credit card mistakes. By avoiding these mistakes, you are not bogged down in debt and build yourself an excellent credit, which in the future will be able to provide you with important major purchases and on good terms.

Read our financial blog to know how to make your financial future successful. Write your comments below.

Lisa Mcdowell Expert in loans, credit cards, insurances, and your personal, responsive guide to a bright financial future.


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