I get it, it’s easy to fall into bad habits when it comes to money. A one-time exception can quickly become a routine and before you know it you’re in the black hole of debt. 😰 But today I’m shedding some light on the most common credit habits to finally kick to the curb 🙌
Paying your CC late and ignoring your statements: It’s tempting to let your credit card due date come and go without paying on time.
I used to be guilty of this too, but I quickly learned that paying on time saved me money in late fees and kept my Credit Score in good standing. ✅
🔸Making only minimum payments
It may seem like a good idea but this is when the cycle of debt begins with high-interest rates and nothing to show. 😌
🔸Taking out $$$ advances
Cash advances are one of the most expensive types of credit card transactions that have the highest interest rates, not to mention having to pay a cash advance fee. Just don’t do it. ✋🛑
🔸Buying things you can’t afford
It’s a simple rule but we’re all guilty of this one way or another. If there are things you want but you can’t afford, wait until you can. 🤑🤑
🔸Applying for new CCs you don’t need
Low-interest rates? Rewards and Bonuses? Tempting, I know.
But It’s a slippery slope. Not only can new credit card applications hurt your credit score, but they can also create an opportunity to get into debt.☹️
Is there anything else worth adding to this list?
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