Page 37 - November 2021 Issue Hustle Mama Magazine
P. 37

 Just Pick Any Card; They All Help
A little like the advice to not pay attention to APR, you’ll also want to avoid picking any card. No cards are equal. There are different types of interest rates, benefits, and uses when it comes to credit cards. This is why you need to make sure that the card is most suited for your needs before choosing one. When choosing a credit card, make sure to take the time to compare cards for their pros and cons.
We have discussed some credit card advice that should be ignored. Following the wrong instructions can prove to be detrimental when it comes to your finances. When in doubt, always check with your financial advisor or financial institution.
Only Pay the Minimum Each Month
Ignore any advice on how to repay credit card balances that claim that you need continuously make a minimum repayment every month. It is useful at times to make the minimum payments on credit card debt, but it may never enable you to get out of debt.
If you are only paying the minimum payment often, your total balance does not decrease much because of how interest is being paid.

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