Many consumers depend on the use of credit cards on a daily basis. Having credit cards is a huge responsibility that many are not properly equipped to handle. Making mistakes along the way can cost you big time. Considering Americans are still facing credit card debt that exceeds $800 billion, there is much at stake and you owe it to yourself to remain educated on responsible credit card usage. Here’s a good article that lists 5 common mistakes that can cost you dearly.
5 credit card mistakes that will cost you
We all know that carrying a balance on a credit card isn’t good. It seems like I can’t go a day without giving out a tip or two on increasing your FICO score or responsible credit card use. Tops on my list is usually the negative impact of paying only the minimum due (#1 in this article as well). Take a look at your monthly statement (See # 5 in this article), not only to avoid fraud, but to see how long it will take you to pay off your credit card at that pace. The numbers can be alarming. If you find yourself in this trap with no way out, you may want to start considering all available debt relief options. Most consumer attorneys, including our firm, will offer a free debt consultation to review your debt situation and provide advice and options to help you become debt free. If you are losing sleep at night, arguing with a loved one about your debt, or you are afraid to even look at your monthly credit card statement, you need to take control of the situation. Contact an credit card debt settlement attorney with skill and knowledge in handling debt issues to get a plan in place.