Avoid these credit card mistakes that could cost thousands

Using your credit card to do your Christmas shopping? Here are a few things to avoid, so you can keep more money in your bank account.

#1 According to The Motley Fool, do not just pay the minimum amount listed on the statement.

#2 Don't pay late or go over your limit, the companies could raise your APR interest rate. In some cases to nearly 30 percent.

#3 Never take a cash advance on your card. The interest rate plus transaction fees are significant and rack up quickly. If you have no choice, pay it back as quickly as possible.

Robin Rock

Robin Rock

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