Credit Card : Do not make these mistakes

Do not make these mistakes when using a credit card

Credit card use can be very helpful in emergencies, especially when it comes to more digital payments. But if you do not know how to use the card, you are sure to get hurt. Here are some common types of credit card mistakes and ways to avoid them.


Credit score will go down super fast if you fail to make monthly credit card repayments. Failure to do so will not only result in a one-month delay but will also reflect a 7-year credit score.

Using the entire credit limit

In the case of a credit card, the policy followed by many is to make full use of it and pay it off in full. Spending the entire amount on the credit limit can lead to a major crisis. A credit card can be used in case of any emergency such as hospital treatment. Spending beyond the credit limit will deprive you of the opportunity to ask for extra credit in the event of an emergency.

Only the minimum due is paid

Many people pay only the minimum due on the day the credit payment is due. After that, the credit card will be used again. This will only increase your liability. The amount has been sitting there since the minimum due date was paid. There is no shortage of it. Then you will have to pay interest and other hidden charges. Not only that. It will turn into a huge amount after a while. It can be hard to put it together. This will not only lower your credit score but also put you in a bigger debt trap.

Transferring balance

Some people change the balance of the old credit card to the new card. The new card does not charge interest for one year. But do not take this as an easy way out. The liability only increases. Using too many credit cards can affect your credit score. What makes credit cards attractive is the EMI option. Any money transfer (except direct cash and gold purchases) can be made EMI. Be careful not to overdo the number of EMIs.

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