The Worst Credit Card Mistakes You Should Stop Making

There are several important benefits of using a credit card to shop. You can earn rewards, build your credit and take advantage of travel points and perks. 

So what are the biggest mistakes well-meaning people commonly make with their credit cards -- and what can you do to avoid financial pitfalls? 

1. Paying your credit card bill late

2. Maxing out your credit card

After payment history, the second biggest factor in determining your credit score is the percentage of available credit that you are currently using.  

3. Making only the minimum payment on your credit card

5. Chasing credit card rewards with abandon

6. Not paying off big purchases during a 0% APR period

7. Canceling your credit card

Even if you have paid down your balance on a credit card, there are two big reasons why you shouldn't cancel your account. Closing your account would affect your length of credit history and credit utilization ratio