10 common credit card mistakes you might be making and how to avoid them.
Set up autopay to ensure payments are always made on time. And if autopay isn't for you, set calendar reminders and email notifications.It's important to check that the transactions listed on your bill are accurate so you can take early action against fraudsters or reporting errors. At the very least, you should review your monthly statement for errors. But it's a good idea to check your transactions a few times each week to verify everything looks OK.
Perhaps one of the riskiest things to do with your credit card is to take out a cash advance. Interest starts accruing on the amount of cash you withdraw immediately — there's no grace period like regular purchases. And you'll likely incur a cash advance fee, which can be around 5% of the advance.Many credit cards come with introductory 0% APR offers, where you won't be charged interest on new purchases, balance transfers, or both, for a set time frame.
The average length of time you've had credit is one factor making up your credit score. When you close a credit card, the average length of your credit history is affected.
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