Avoid These Credit Card Problems

Credit cards are useful for a number of reasons. They’re convenient when you don’t have cash on hand, and some cards carry perks like cash back or travel savings. However, you should avoid using credit for emergencies, and you should always be sure to make payments in full and on time. Carrying a balance from month to month can result in unruly interest charges that are more difficult to pay off, especially when trying to stick to a budget. 
 
A recent ABC news article warns that failing to make a payment on time just once could cause your credit score to fall as much as 110 points. Once lost, these points can be difficult to build back up and can make other aspects of your life more challenging. Your overall credit can affect your ability to secure new lines of credit, affect your interest rates, and even hurt your chances of renting an apartment or securing a new job
 
Always be sure to stay on top of payments and check your credit report regularly. It’s not uncommon for credit reports to contain errors or inaccurate information, which could further harm your overall credit. You can request one FREE credit report every year from the three credit bureaus – TransUnion, Experian, and Equifax. Check for duplicate negative listings, someone else’s information, and any unfamiliar activity. Dispute any credit report errors immediately.