No one can deny that the credit card is a hand on the wheel. It makes it possible for you to partner, that you do not go out with a lot of money in your wallet, and even offers advantages such as miles to purchase airline tickets, discounts and prizes.
Although useful, it often becomes a budget villain by being used the wrong way. Check out the major mistakes you made with your credit card and did not even know:
Do not check the purchases and fees charged on the invoice
Whether it’s debiting the card or even out of distraction, many people simply pay the full amount and do not check if the charges and fees charged come.
When you do not check your bill you risk paying for those that are neither yours. There is also the possibility for the administrator herself to make mistakes in closing the invoice, charging undue rates and unsolicited insurance. Always check each launch done and make sure everything is right. If you have any undue value, contact your customer service card.
Consider the card limit as part of the income
Many people confuse credit with income and consider the limit on the card as part of their monthly income. Ledo mistake. When you take out money with your credit card, for example, the interest you pay is sky high. So you have the limit available on the card for the running costs of your home, such as supermarket, paying bills like electricity and gas. Every time you use the money, you will have to pay interest, impacting your monthly budget.
Borrow the card to family, friends, neighbors
There are a few cases of people who had the name included in the record of defaulters because they made purchases in installments on the credit card for another person and never received payment. It’s hard to say no, especially in the case of relatives, but avoid using your card to make purchases for others. Look for another alternative, such as lending a portion of the money without compromising your budget, for example.
Make only the minimum invoice payment
Bill is one of the main pitfalls that leads to indebtedness. When you only clear this amount, the invoice debt does not disappear, it is only pushed to the next month plus interest (usually very high). If you are unable to pay the full card bill now, consider ultimately choosing cheaper credit alternatives. Do not postpone solving the problem.
Do not pay the invoice
Of all the mistakes that a credit card user can commit, this is the worst. When you do not pay the bill, you are at the mercy of very high interest, you have your credit in the pledged place and you run the risk of having your name registered in the register of defaulting consumers. From there, the problem tends to worsen as it will not be able to access financing, loans or even another card. If the situation is tightened, be sure to pay your bill. For this, negotiate.