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8 credit card habits to avoid
Credit cards are one of the most convenient and user-friendly financial tools available. They are a boon when making purchases, offering flexibility and rewards. They are also a great tool in times of urgent monetary needs when a person is out of cash. However, using credit cards also comes with some pitfalls. Many people have certain credit card habits that can put them into financial difficulties. Here are some common credit card habits that one must avoid. Not making timely payments When it comes to credit card usage, one of the biggest mistakes people make is missing out on timely payments. Whether it is due to not keeping track of the due date or being low on funds at the time, the habit of not making timely credit card payments can have a lot of negative consequences. Firstly, it can result in hefty penalties or increased interest rates. Secondly, it can also negatively impact the person’s credit score. Hence, it is important to keep track of the due date and ensure that sufficient funds are available for payment when the date is nearing. Not viewing the billing statement before payment Many people tend to skip going through their billing statements before making credit card payments.
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