Costliest Credit Card Mistakes

Make a credit mistake — like relying on it when you have cash-flow problems will cost you big time in the long run. But, there is one mistake that will cost you even bigger that you should try to avoid at all costs – carrying a balance.

Carrying a credit card balance is very expensive, and even more so now in 2017 since the Federal Reserve has raised a key benchmark interest rate. It isn’t expected to stop there either. The Fed has projected that it could raise rates as many as three times this year. If so, then by December of this year, the interest on your credit card will likely be a full percentage point higher.

For the sake of your wallet, avoid paying a credit card bill month to month.

By clicking submit, I authorize Wallet Monkeys and its affiliated companies to: (1) use, sell, and share my information for marketing purposes, including cross-context behavioral advertising, as described in our Terms of Service and Privacy Policy, (2) supplement the information that I provide with additional information lawfully obtained from other sources, like demographic data from public sources, interests inferred from web page views, or other data relevant to what might interest me, like past purchase or location data, (3) contact me or enable others to contact me by email with offers for goods and services from any category at the email address provided, and (4) retain my information while I am engaging with marketing messages that I receive and for a reasonable amount of time thereafter. I understand I can opt out at any time through an email that I receive, or by clicking here.