The use of credit cards can go in two very different ways: they can either be your best friend in times of emergence when you need financial support, or they can become your worst nightmare. Of course, all of us would always want the first scenario to apply, but this is not always the case. The latter only happens because of bad decisions taken by credit card owners.

To avoid this from happening, let us take a look at some of the most common credit card mistakes:

1. Skipping Payments
This is quite a common happening all around the world; however, it leads to very serious complications. You should keep in mind to never let your payment date cross more than 30 days; doing otherwise would result in 17 to 83 points of your credit score getting affected. Not clearing a payment for more than 90 days would ultimately affect your credit score by 133 points.

2. Not Checking Statements
You need to keep a regular check on your financial transactions to make sure that everything is in order. There have been cases where people have found that their financial transactions have not been accurate. Such fraud transactions could affect your credit score, hence you should make it a point to keep an eye on them so that everything is in the clear.

3. Using Credit Cards for Cash Advances
Using a credit card to take a cash advance is simple and efficient. You immediately get the funds that you require for certain expenses and it works out really well. But what many are unaware of is that there is a 5% fee that they are charged every time they use their credit cards to take cash advances. Unlike most loans, cash advances have no grace period; hence you could end up paying a lot more if you do not clear the amount immediately, not to mention the interest that is constantly getting piled up.

4. Bringing Your Balance Down to Zero
Maxing out your credit card is never a smart idea. This is because you face a huge amount of interest that is added to your credit fees. So, make sure to never bring your credit card balance to zero.

5. Using the Card for Daily Purchases
Credit cards can be of great help during times of emergency. That being said, you should avoid using it for regular expenses since you may lose track of how much you are spending.

6. Not Clearing the Debt
One of the most common credit card mistakes is people ignoring their debt. This is one of the worst things you can do because not only the amount but the interest also rises. So, always clear your debt on time.