Don’t let these credit card mistakes ruin your finances

If you’re not careful and make credit card mistakes, using a credit card can have the opposite effect on your financial life.

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Making Late Payments

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While making minimum payments is important to avoid incurring late fees, it won’t allow you to avoid interest charges.

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Misunderstanding Credit Card Interest

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Credit card agreements contain important details like fees, your credit limit, and other important terms you’ll benefit from knowing.

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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Don’t let these credit card mistakes ruin your finances

If you’re not careful and make credit card mistakes, using a credit card can have the opposite effect on your financial life.

Making Late Payments

The more payments you miss, the more your credit score could go down, and it could take a fair amount of time to repair your credit.

While making minimum payments is important to avoid incurring late fees, it won’t allow you to avoid interest charges.

Making Only Minimum Payments Monthly

Misunderstanding Credit Card Interest

Interest is a key part of what a credit card is, but the way credit card interest is charged can be confusing.

Credit card agreements contain important details like fees, your credit limit, and other important terms you’ll benefit from knowing.

Ignoring Your Credit Card Agreement

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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