Major Credit Card Mistakes: It could cost you $100s this year - The Santa Clarita Valley ProclaimerMajor Credit Card Mistakes: It could cost you $100s this year - The Santa Clarita Valley Proclaimer
CREDIT cards have become nearly as universal as cash
More than 70 percent of Americans own a credit card, while a third of people have three or more card
While credit cards are convenient, they also make it much easier for consumers to build up debt
1. Missing paymentsFailing to make a credit card payment will typically hurt you
2. Only paying your monthly minimumWhile paying the monthly minimum is better than missing a payment altogether, it's still not ideal
3. Maxing out your cardLike how credit card companies typically set very low monthly minimum payments, they often offer high credit maximums
4. Ignoring your statementIf you use a mobile banking app or otherwise have easy access to keeping tabs on your account
In addition, periodically checking your statement is the best way to spot errors or fraudulent charges