CREDIT CARD MISTAKES MOST PEOPLE MAKE

 Misinformation has made our knowledge of credit cards a little murky, and therefore,
 there are several common mistakes most credit card holders don't know they are
 making.  Here are the top ones:

 1)  CLOSING OLD CREDIT CARDS - Most people think that once they pay off a
       a credit card, it is in their best interest to close it.  Closing the credit card can
       impact your credit utilization ratio which can negatively affect your credit score.


 2)  APPLYING FOR MULTIPLE CARDS - Opening new credit cards is on way to
      improve your credit scores because it adds to your total available credit.  Appying
      for multiple credit cards at once could end up having the reverse effect.  Too many
      hard inquiries on your credit report can negatively impact your score which may
      make you seem desperate for more credit.


 3)  MAXING OUT CREDIT CARDS - Even though there are circumstances when you
      may need to use most of your credit.  It is best to pay the balance as quickly as you
      can.  If you don't, it can have a negative impact on your credit scores.  Similar to
      closing old credit cards, maxing out your credit cards raises you credit utilization
      ratio.


  4) DON'T IGNORE MONTHLY CREDIT CARD STATEMENTS - Verify that you
       made all purchases yourself, and report any unknown transactions to your bank as
       possible fraud.  This is key to protecting yourself from any fraudlent use.