Outlook Money
Credit cards can be useful, but mistakes like overspending or missing payments can lead to debt and hurt your credit. Avoiding common pitfalls is key to staying financially healthy.
Benefits such as concierge services and lounge access are available with high fee cards. Before you spend more money make sure you properly utilize these perks.
Each cards reward different categories like travel, groceries, or dining. Always pick one that aligns with how you usually spend.
Credit card companies use attractive sign-up bonuses, including bonus reward points, it should not distract you from evaluating how well a card matches your long-term needs
Your credit score may drop if you submit several applications in a short amount of time. Try to strategically apply for cards.
If you sometimes carry a balance, a high-interest card can cost a lot. Choose a card with a lower APR to avoid unnecessary charges.
Many people overlook a credit card’s full terms, leading to surprises with fees, interest rates, rewards, penalties, and foreign transaction charges. Always review them thoroughly before applying.