10 Costly Credit Card Mistakes To Avoid
6. Getting a card for wrong reasons
Always buy credit cards for right reasons. One common business strategy that most of the credit card companies follow—they lure consumers through advertisements by offering them big promises regarding application for credit cards. It could be anything like a cash back bonus or the extra miles earned by signing up for a certain card. Don’t become a victim to such creative ad campaigns. Your lender is not customer friendly his job is to extract maximum money from you to increase his business. It is better to get a card for the right reasons. Decide on what you want in a credit card and then go find the best one to meet those needs.
7. Buying everyday items with your credit card
Make sure that the items you buy for each month should be paid with your money. Keeping aside your required purchases like groceries will be one of the major steps toward getting your spending under control. Buying 10 covers of milk which is almost
150 with a credit card might quickly turn into a
1500 for 10 covers of milk if you don't pay off the balance at the end of the month. There's no need to incur interest charges on necessary items that you can buy using cash.
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