What Are The Most Common Credit Card Mistakes?

Now in a world with so many easy to get credit cards it can be easy for someone who is a first time credit card holder, or even someone who has several credit cards in the past to make mistakes when using the card.

One of the most common mistakes when using credit cards is to use the credit card to make purchases of things you are not really able to afford. Easy to get credit cards make it tempting to get a credit card in a store to make a large impulse buy, that you will end up paying for several times over in interest rates. People will often sign up for credit cards at baseball games, and on college campuses in order to receive free promotional items. While it is easy t get credit cards from these types of booths, the credit cards often will have a high interest rate, annual fees and memberships fees that you don't pay attention to when you sign up.

Another common mistake using credit cards is not reading the fine print in your credit card agreement. Many credit cards will have an introductory low interest rate, but after a certain time will be set at a much higher interest rate. Several other credit cards, especially those designed for college students, or individuals with bad credit will charge a membership fee, or an annual fee of the card. In many cases the fees you pay just for the privilege of having the card may be as much as if not more than the credit limit you are offered. Make sure to pay attention to these things BEFORE you use your card for the first time. Once the card is activated you are generally held responsible for any and all of the fees the credit card company wants to charge you.

It is easy to make mistakes when using credit cards, but also easy to save yourself from making mistakes. Reading the fine print of your credit card agreement, and only charging an amount that you can easily pay off at the end of the month will help you be a responsible credit card holder, and build fantastic credit for the future.

Jeff Altmire is the author of this article. This article may be reproduced on websites subject to credit being given to the author, and a link to this website. If you would like more information go to http://www.best-credit-card-cards.com

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