{"id":10566,"date":"2023-03-29T14:00:10","date_gmt":"2023-03-29T14:00:10","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/03\/29\/hidden-ways-credit-card-debt-can-cost-you-money-the-points-guy\/"},"modified":"2023-03-29T14:00:10","modified_gmt":"2023-03-29T14:00:10","slug":"hidden-ways-credit-card-debt-can-cost-you-money-the-points-guy","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/03\/29\/hidden-ways-credit-card-debt-can-cost-you-money-the-points-guy\/","title":{"rendered":"Hidden ways credit card debt can cost you money – The Points Guy"},"content":{"rendered":"


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Whether you\u2019re new to the credit card rewards space or you\u2019ve used millions of points and miles to travel the globe, there\u2019s a cardinal rule that every rewards enthusiast should follow: It\u2019s essential to pay off your entire credit card balance each month.<\/p>\n

When you carry an outstanding credit card balance from one month to the next, it doesn\u2019t take long for the interest charges you pay to wipe out the value of any rewards you might earn.<\/p>\n

Thanks to rising interest rates, carrying credit card debt is more expensive than it was in past. The average annual percentage rate on a credit card was more than 20% for interest-assessing accounts at the end of 2022, according to the Federal Reserve<\/a>. Additionally, some cardholders pay higher-than-average interest rates, depending on their creditworthiness and the type of account they open.<\/p>\n

High-interest charges are the most obvious way credit card debt could cost you money. However, there are less apparent ways that poor credit card management habits could come back to haunt your wallet as well.<\/p>\n

Here\u2019s what you need to know, along with tips on keeping your credit and money safe.<\/p>\n

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Credit card debt and your credit score<\/h2>\n
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