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Readers Respond: What's Your Worst Credit Card Mistake?

Responses: 8


Charge-offs, loaning a credit card, and charging too much on a credit card top the list of worst credit card mistakes. What's the worst credit card mistake you've ever made?


My worst mistake was I didn't get a card sooner. The internet is a great place and has lots of info but I only just now realized the importance of good credit and the only way to get there is by having a credit card. Now that I have one I have pretty good control of my finances and my credit score is improving but I dont plan to simply stay in debt. Use credit wisely and try to pay in full even though it can be hard. A lot of people fall into debt due to emergencies so try if you can to have a small emergency fund and use your card as a back up. Even today most bankruptcy are caused by medical bills so please try to have insurance and don't skimp on the basic coverage.

Neglected Interest Free Terms

I purchased about $900 worth of home improvement material and received 12 months free interest. For some dumb reason, I forgot about the free interest and was only making the minimum payments (sometimes $20 more) for about 10 months. Then one day when I was really reading my statement, I noticed that I had deferred interest on the purchase and it was expiring in 2 months. I stilled owed about $700 thanks to the minimum payments only I was making! There was no way I would be able to pay it off in 2 months. When it expired, I was socked the whole year's worth of interest at once! At first I was mad, but then I realized I couldn't blame anyone but myself. So, I'm mad at myself! Now, I watch and read all my statements very carefully.
—Guest Brainless

Too Many Credit Cards With High Balances

Having too many credit cards and carrying balances on all of them. I eventually had way too much consumer debt and I am still trying to dig myself out from under. I had to postpone retirement. I am furious with myself. I should not have been so careless with my credit.

College and Bally's

When I first got my credit card, I only had $250 limit and I was very good with managing my credit card. However, several years later, I received an increase in credit card, summing at $1,000. I took a break from college and decided to take an online course at a local community college, which cost about $600. Later that day, I was "lurked" by a Bally's representative and was scammed into paying $47/month after 3 months trial period. Grrrr! Took me about 4 years to FINALLY pay off all that debt! This month was my last pay off! ;) Now I will only use it for an occassional dinner every month! :)


My wife opened 3 credit cards and maxed them out, with a few over credit limits and late payments. Why is this my mistake you ask? Because I take care of the finances. I thought they were card offers, not statements. I took the cards away from her!!!
—Guest firedforDilbert

all down hill

when i turned 18, and i got my first cc with capital one. i had a 500 limit. I had money from when my dad passed away, but that became depleted when my family asked for $. I started using my cc more, and then i quit my job. i got a seasonal job, but it was too late. i now have a judgement, and 500 has turned into 2000. i recently didn't get a job because of that. i wish i can go back to that day i applied for it, and be like NO!!!! Anyway. it sucks!
—Guest stupidat18

Loaned to Family

When I turned 18 I got my first credit card. I handed it off to my Mother because I felt she knew better how to handle those things and I didn't want to ruin my own credit by using it too much. Six months later the card was maxed out and $50 over the limit. For the next 4 years she only paid the minimum so for those 4 years the balance stayed $50 over the limit. I didn't realize this until I found out I could get my credit report for free online. I asked about it and she said she was paying on it, but this last time around I asked for the card back and am now paying on it. It took a while and it really hurt my credit, but it is getting better. Definitely don't trust anyone but yourself with your credit!
—Guest Annonymous

Charged Off credit Cards

After I maxed out, then let cards go past 120 days no pay (charged off) in early 90s. Got back on my feet, worked with CCCS. Fell down again. Now getting pound by debt collectors, but have been sloppy or threw away ppymt records and being hit 2 or 3 times same card. On ternimal garnishment? Can't afford lawyer. I have to prove that debt over 5 years old and is now no longer collectible? For awhile got combinedcredit reports which is hard to impossible to sort out what original CC card was. Believe have paid triple original last amt due. When will it end?

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