Credit Card Traps Rookies Walk Into

When you first get a credit card, there aren’t any instructions on how to best use it. For the most part, people are doing things they’ve seen others do. Some of those things are erroneous and should be corrected immediately. Use the following pointers to avoid credit card traps and protect yourself.

– Don’t pay late: This may seem obvious, but it’s important to mention. Don’t pay your credit card late. Do the opposite by paying early. When you pay late, it puts a ding on your credit report.
– Don’t pay the minimum: So many rookie credit card customers pay only the minimum month to month. When you do this, you’re only going to be paying back more, longer.
– Not paying attention to interest rates: Interest rates are what determine the amount you’re paying back. Keep an eye out on how the interest rate increases.

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