Smart Credit Card Usage : 05 Costly Mistakes To Avoid
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Paying Only the Minimum Due
This leads to high-interest accumulation. Always try to pay the full amount to avoid debt traps.
2
25 reads
Maxing Out the Credit Limit
Using a high percentage of your limit hurts your credit score. Keep usage below 30% of your limit.
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23 reads
Missing Due Dates
Late payments result in penalties and damage your credit history. Set auto-reminders or auto-pay.
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21 reads
Ignoring Reward Expiry or Fees
Not tracking rewards or hidden charges like annual or foreign transaction fees can reduce benefits.
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20 reads
Applying for Too Many Cards
Frequent credit inquiries lower your credit score and show poor financial discipline.
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23 reads
IDEAS CURATED BY
CURATOR'S NOTE
A credit card can be valuable in building credit profile, managing cash flow, earning rewards; however, common mistakes such as overspending can turn into a financial burden.
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