7 Common Credit Card Mistakes That Keep You in Debt
Introduction Credit cards can be powerful financial tools when used wisely, offering convenience, rewards, and the ability to build credit. However, mismanaging them can lead to a cycle of debt that’s hard to escape. Many Americans struggle with credit card debt, with the average household owing over $6,000, according to recent studies. The key to avoiding this trap lies in understanding and avoiding common credit card mistakes. In this blog post, we’ll explore seven frequent errors that keep people in debt and provide actionable tips to help you take control of your finances. Whether you’re new to credit cards or looking to break free from debt, this guide will empower you to make smarter financial decisions. 1. Paying Only the Minimum Balance One of the most common credit card mistakes is paying only the minimum amount due each month. While it may seem like a manageable way to keep your account in good standing, this habit can trap you in a cycle of debt. Why It’s a Problem Credit ca...
