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Mistakes to avoid when using a rewards credit card?!? 

Using a rewards credit card can be a smart way to earn perks like cash back or travel rewards. However, there are common mistakes that can negate the benefits of using these cards. It’s important to avoid these pitfalls to maximize the rewards and benefits of your card.

1. Carrying a balance

Carrying a balance on your rewards credit card means you’re paying interest on your purchases, which can quickly cancel out any rewards you earn. Always try to pay your balance in full each month to avoid interest charges.

2. Overspending

Just because you’re earning rewards doesn’t mean you should overspend. Stick to your budget and avoid making purchases just to earn rewards.

3. Not using the rewards

Failing to use the rewards you earn is a common mistake. Make sure to redeem your rewards before they expire and choose rewards that you’ll actually use.

4.  Ignoring the fees

Some rewards credit cards come with annual fees or other fees. Make sure you understand the fees associated with your card and factor them into your decision-making process.

5. Ignoring the terms and conditions

Make sure to read and understand the terms and conditions of your rewards credit card. Some cards have restrictions on when and how you can redeem your rewards, so make sure you’re aware of these before signing up for a card.

Are you guilty?!