Paying only minimum amount

Paying minimum amount is better than not paying your credit card bill on time. But, if the same is repeated you may find it difficult to make payment and close the debt.

This can be a costly option as the minimum amount paid will be first considered for interest payment, fees, and last for the principle.

Not reading the T&C

Ignoring terms and condition of the credit card can be a blunder as there are many conditions which will not be briefed by the issuing company. 

Going through Terms and Conditions page will give you a fair idea and you will not make mistakes as you will know what will impact your credit score.

Ignoring Monthly Statement

Every month credit card company issues statements of the bill. Make sure you go through it to check if there is any additional fee they are charging or you are being overcharged for any transactions.

Multiple credit cards

Multiple credit cards can be a boon if used smartly for the purpose. Else it can be dangerous if you are not maintaining properly or you have misplaced the same. 

Multiple credit card holders should make sure that he or she is tracking all his/her  cards and making payments on time.

Discarding oldest credit card

Most individuals are not aware that credit history is built over time. Discarding oldest credit card can impact  your credit history.

Choosing wrong cards

It does not make sense to own a travel card when you hardly travel. So choose the card based on the need and requirement. There are many types of credit card catering different needs.

Shopping without limit

There is a famous quote saying, "If you buy things you do not need, soon you will have to sell things you need". 

Unnecessary spending can increase your debt with high liabilities. Going through your statement will give you an idea of your spending habit and you will know where to reduce.