Ten Worst Credit Card Mistakes

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2. Choosing a card for the wrong reasons. Some credit-card holders choose a card to earn free airline miles or cash rebates-with out regard to the card's annual fee or interest rate. In the end, they may end up paying more in fees and interest than the value of the benefits they receive. Mileage and rebate cards might make sense for those who pay their balance in full each month, but if you don't, there's a good chance you're better off with a no-fee, low-interest-rate card.

7. Being late with payments. Credit-card companies charge a late fee-which could be as high as $30-even if you're just one day late. To be sure your payment arrives on time, mail it at least 10 days in advance. Some issuers allow you to make last-minute credit-card payments by phone or via overnight delivery service. You'll pay a fee, but it's likely to be considerably less than a late-payment fee.

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Ten Worst Credit Card Mistakes

Used Properly, credit cards offer significant safety and convenience benefits. But mistakes with your credit can cost you dearly-in and money, and in terms of your credit rating.

These are the 1...

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