Common Credit Card Mistakes

When using credit cards, it is important to regulate your spending to ensure that you can pay off at least a reasonable amount of what you owe each month. If you fail to make regular payments, make only the minimum payments, or are late in paying your bill, you will face additional fees and increased charges, and risk falling further and further into debt.

Avoid Excessive Fees and Charges

It is important to stay on top of your finances and make sure they do not get out of your control. Some common credit card mistakes that can cause serious financial consequences for consumers can include:

  • Skipping payments or making late payments. It is important to make your monthly payment on time each month to avoid late fees and an increase in interest rates.
  • Out of control spending. Any money you borrow from credit card companies while making purchases must be paid back in full. Create and stick to a budget to ensure that you do not rack up excessive debt.
  • Only making minimum payments each month. If at all possible, pay your bill in full each month. By making only minimum payments, you are simply collecting more debt and more interest, making is nearly impossible to ever pay off your bills.

When choosing a credit card, it is important to find a card with a payment plan that works for you and to evaluate your budget and spending habits.

Contact Us

If your finances are out of control, you need sound legal advice to help you determine the best steps to take next. A knowledgeable Florida bankruptcy attorney can discuss your options to reorganize and pay off your debt, and can help you fight back against loan agencies engaging in unfair or deceptive practices. Contact the offices of Ryan J. Really, Attorney at Law, PLLC at (239) 237-0675 to get help today.