Have you just got a new credit card? Do not do these 10 things even by mistake, you will be troubled by debt for the rest of your life!

Credit Card Tips: Have you also got a new credit card and are you tempted by cashback and reward points? In such a situation, you need to be careful from now on. One mistake can trap you in debt for life. Let us know what 10 mistakes you should not make with a credit card.

Missing the payment date can prove to be very costly for every user using a credit card. You may have to pay a lot of interest on missing the payment date. To avoid this, you can set auto-pay.

If you also pay only the minimum dues, then with time the burden of debt increases on you. Along with this, you also have to pay more interest.

Avoid spending too much on credit card in the pursuit of cashback or reward points. By doing this, you will spoil your own budget.

Do not ignore your monthly credit card statement. By looking at it, you can avoid getting trapped in the trap of hidden charges of credit card.

The mistake of keeping many credit cards in the pursuit of more cashback or rewards can cost you heavily. It becomes difficult to manage the dues of all when you have many credit cards. Keeping fewer cards is going to be good for your convenience.

Withdrawing money from ATM using credit card is very expensive because there is no grace period in it and interest starts accruing immediately.

If you do all kinds of expenses on a single card, then your limit can be filled quickly and the risk can increase. It would be better if you distribute the transactions in different cards.

Reward points on credit cards often have an expiry date. Many people forget to use them and lose their benefits.

Spending close to the credit card limit increases your credit utilization ratio, which hurts your credit score.

In this era of cyber fraud, sharing credit card information on any unknown website or suspicious link can empty your account.