You need to manage your credit cards wisely. Otherwise, you may end up in financial trouble. Unfortunately, there are many who dont realise that they may be making huge mistakes with the use of their credit cards. Here are top 7 credit card mistakes that card holders make:
1. Paying Just the Minimum Sum.
The minimum sum is just an amount that you must pay back each month to avoid defaulting on the debt. If you pay just the minimum sum, the rest of your outstanding is subject to interest computations. Always pay back more than the minimum sum or make full payments to avoid credit card debt.
2. Making Late Payments.
If you dont set up any kind of automatic debit payment from your bank account, then it can be tempting to just put your credit card bill aside and get to it when you have time. Before you know it, a few weeks have gone by and youre late. If you leave it to the deadline, you may find that the payment wont get there quickly enough.
Paying late is a big mistake for an awful lot of reasons. You will almost certainly be charged a late payment fee, and your late payment will go on your credit report. You may also find that you lose any good...
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