Beginners guide of credit card mistakes to avoid.
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1. Only making minimum payments. Making a minimum payment is human nature, a lot of people like to do the bare minimum in a lot of things in life. If you want to keep credit card companies in business then go ahead & continue to make the minimum payment lol. You have to get out of the idea of only making the minimum payment b/c you will never pay that credit card in full.
2. Missing a payment. YOU CAN NOT MISS A PAYMENT!!! Make sure to set reminders, place sticky notes on your mirror or whatever helps you not forget to make your credit card payment. "Payment History" makes up of 35% of your total Fico credit score so make sure that you're making payments EVERYTIME!
3. Maxing out your credit card. This can easily be done when you're spending "someone else's" money But it's not the wise thing to do, at most only spend 30% at the most!
4. Closing your credit card. You should never close a credit card, it's best to keep your oldest credit card & never close it so that you have a good credit age which makes up of 15% of your credit score.
5. Not knowing your APR. It's best to always know the interest you're being charged on your credit card. Interest is how the banks make money, if anything they want' you to fall into debt b/c it keeps them in business. Make sure you know your APR at all times so you're staying up to date on things.