some mistakes when we use credit cards

1 Jan 2010

There are a number of errors we credit that really affect our credit score and cost us money to see what they are:

  1. Late Payment: Even if you just too late for a few minutes it will cost you extra, interests and more.    
  2. Paying only the minimum: Credit cards holding that the time you pay the debt. It will not necessarily affect your credit score, but that does not mean that a good practice. Send in only the minimum payment "is certain to keep you in debt longer, and you go to one heck of a lot more in interest to pay," says Francis.
  3. Buy on a card just for the rewards: It won `t affect your credit score, but you can get in a lot of debt without you noticing. Be careful with your shopping.  
  4. Missing a payment of: Not only will you be hit with fees, interest and other penalties if you miss a payment, but you'll probably see a rise in your interest.
  5. Having too many cards: "There is rarely a good reason to get a new card if you have a general-purpose card, a rewards card and got a low interest rate card," says Cunningham.
  6. Maxing a map: This really affects your credit score, because they evaluate how to manage credit. "It means you are not saved enough money to cover unexpected costs.
  7.  Playing the game transfer: It is not a good game to transfer credit from card to card, they just see how much debt you have.
  8. Debt Arrangement Plans: Besides bankruptcy, debt settlement is the worst thing you can do to your credit score, "says Francis.
  9. Getting a Cash Advance: You may feel like free money, but the truth is something else: You probably have a fee associated with the advance, and you'll probably pay a higher interest rate than you would using the map associated
  10. Using a map on a pinch: When the refrigerator went on the fritz or the furnace conked by mid January, you may not have the resources to fund the immediate replacement. Fitting the bill on a credit card - and pay quickly over a few months - is a pretty solid option, says Cunningham.
I hope this article will help you better use of your credit card.

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