10 Costly Credit Card Mistakes To Avoid
Bangalore: No matter what, the mistakes are common whether it is due to our carelessness, or due to some confusion. But in case of credit cards a small carelessness can result in lower credit limits, unwanted fees and higher interest rates. It is easy to avoid these mistakes if you are able to change your spending habits and manage your debts. Here we have complied 10 worst mistakes that you can make in case of credit cards:
1. Owing too many credit cards at a time
It’s a simple business—all credit card companies allure their customer with exciting offers, packages and programs. This doesn’t mean you will buy and decorate your wallet with new credit cards more often. Every time you apply for a new credit card, you lose points on your credit score. If a new card comes out, it is advisable not to close your old account as a history. Also if you start applying for several credit cards within a short span of time, the lenders might start getting suspicious about the sudden credit card applications and might deny from lending you loans in future.
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