Truck Loans Australia :: Articles

Five Worst Credit Card Mistakes

What are the five worst credit card mistakes to avoid?

Five Worst Credit Card Mistakes
Credit cards can be an excellent way to manage your finances ... they can even be an investment tool. However your credit card can quickly become your enemy if not used correctly. Here are five of the worst mistakes most credit card holders make. If you can avoid these mistakes, you will benefit greatly.

Listed below are five worst mistakes most credit card holder make. If you can avoid these mistakes, you will benefit a lot.

1. Too many credit cards:

In most cases, a single credit card is sufficient to meet all the credit needs in a person's life.

More than one card leads to greater temptation resulting in inviting greater credit risk over a long run.

Multiple credit cards or credit accounts leave the lender with a question that the account holder must be spending all the money on the card.

2. Misunderstanding introductory rates:

Introductory rates on them are often low.

Debt Stressed?
Image for Debt Stressed?If you're struggling to pay your debts and covering living expenses, we're here to help. Through our national panel of Debt Management specialists, we can help customers with $10k or more in debt by consolidating your existing loans, stopping Debt collectors from contacting you and re-negotiating repayments on your terms!

Many people get enticed by these rates. However, they give least attention to the rates that are levied once the introductory period is over, which can be as high as 20 percent.

3. Not reading the fine print:

This is the most common credit card mistake committed by a majority of people.

This is one strategy that companies apply to escape from legal entangles and also attract customers.

Most of the terms and conditions, including the interest rates, at the end of the introductory period are written in a fine print at the bottom or at the end of the brochure.

It is important to read these conditions in order to have a better understanding about the benefits offered by a particular card.

4. Making minimum payments:

This is another common mistake committed by consumers.

Credit cards should be used only during emergencies.

People should understand that credit cards offer money on credit but are not a form of income.

It is important to pay off the credit at the end of every month. With minimum payments, the trouble is going to increase further.

This is because the interest rates on the balance amount will be higher making it difficult to pay off loans for a long time.

5. Paying bills late:

When one wants to pay the credit card bill, it is better to pay that well ahead of time.

Most of the companies charge late-payment fees.

Apart from this, late payment of bills gets reflected in the credit reports, thereby making it difficult to obtain loans at better terms when one goes for any loans in the future.

Published: Tuesday, 24th Aug 2021
Author: 85


Truck Loans Articles

Essential Checklist for Commercial Vehicle Loan Approval
Essential Checklist for Commercial Vehicle Loan Approval
In the journey to secure a commercial vehicle loan, preparation is key. Just as a vehicle needs to be in perfect condition to hit the road, your loan application requires meticulous attention to detail to ensure a green light from lenders. This article embarks on the essential journey of understanding the critical checkpoints before applying for a commercial vehicle loan. We navigate through the path of prerequisites that pave the way for a seamless approval process. - read more
Why a Pre-Approval Can Give You an Advantage When Buying a Truck
Why a Pre-Approval Can Give You an Advantage When Buying a Truck
When purchasing a truck, whether for personal use or business, navigating the financial landscape can be daunting. This is where pre-approval comes into play. But what exactly does pre-approval mean in the context of buying a truck? - read more
How to maintain your truck to extend its lifespan in Australian conditions
How to maintain your truck to extend its lifespan in Australian conditions
Maintaining your truck is essential if you want to prolong its lifespan and save money down the road. Australian conditions can put a lot of strain on your vehicle, and neglecting its maintenance can lead to costly breakdowns and repairs. - read more
The Ins and Outs of Commercial Truck Loans: A Buyer's Guide in Australia
The Ins and Outs of Commercial Truck Loans: A Buyer's Guide in Australia
Commercial trucks serve as the lifeblood of the Australian economy, providing vital links between industries and markets across the vast landscapes. The importance of these heavy-duty vehicles cannot be overstated, as they are pivotal in ensuring the smooth operation of both urban and rural businesses alike. Engaging in the commercial truck market is a significant investment, and understanding the ins and outs of financing such a purchase is crucial for business success. - read more
The Top Mistakes to Avoid When Applying for a Truck Loan in Australia
The Top Mistakes to Avoid When Applying for a Truck Loan in Australia
Commercial vehicle loans in Australia are a vital component in the Continuum of the transportation and logistics industry. They provide businesses and individuals with the necessary funds to acquire trucks and other heavy vehicles critical for their operations. Understanding the nuances of these loans is imperative for anyone in the market for a commercial vehicle. - read more

Finance News

Entireti Revamps Managed Account Platform with Salita Portfolio Services
Entireti Revamps Managed Account Platform with Salita Portfolio Services
02 Oct 2025: Paige Estritori
Entireti has revamped its managed account offering following its acquisition of Australian Unity’s financial advice business, launching the Salita Portfolio Services. This new service aims to cater to both licensed and self-licensed practices, encompassing Fortnum Private Wealth, Personal Financial Services, Akumin (formerly AMP licensees), and Entireti Alliances, its newly branded self-licensed service operations. - read more
Social Media: A Lifeline for Pre-Retirees Seeking Financial Advice
Social Media: A Lifeline for Pre-Retirees Seeking Financial Advice
02 Oct 2025: Paige Estritori
With financial advisers grappling with the challenge of serving more clients with limited time resources, effectively educating new clients about their financial journey has become a daunting task. According to Deline Jacovides, founder of Mazi Wealth, advisers once had the luxury of time to nurture and educate newcomers, but rising costs now demand clients arrive with a foundational understanding. - read more
First Home Buyers at Risk of Negative Equity Under New Scheme
First Home Buyers at Risk of Negative Equity Under New Scheme
02 Oct 2025: Paige Estritori
In a recent analysis by Eliza Owen, the head of research at Cotality, concerns have been raised about the potential financial consequences for first-home buyers under the Albanese government's new 5% deposit scheme. This scheme, known as the First Home Guarantee, allows buyers to purchase property with just a 5% deposit, with the government covering a 15% mortgage guarantee. - read more
RBA's Hawkish Stance Leaves Homeowners Awaiting Rate Cut Relief
RBA's Hawkish Stance Leaves Homeowners Awaiting Rate Cut Relief
01 Oct 2025: Paige Estritori
The Reserve Bank of Australia (RBA) has maintained the cash rate at 3.6 per cent, a decision anticipated by economists and market participants. However, the unexpectedly cautious rhetoric from the RBA's board and governor, Michele Bullock has prompted a rethink among analysts on the timing of future rate cuts. - read more
ACCC Warns Caravan Retailers: Uphold Consumer Rights or Face Reforms
ACCC Warns Caravan Retailers: Uphold Consumer Rights or Face Reforms
30 Sep 2025: Paige Estritori
The Australian Competition and Consumer Commission (ACCC) has issued a stern warning to caravan retailers, highlighting concerns over misleading advertisements and pricing practices that could lead to significant consumer harm. The watchdog's recent report exposes serious failures within the industry, particularly regarding inaccurate information about prices and vehicle weights. - read more

Start Here

Get a free truck loan eligibility assessment and compare truck finance and leasing options without accessing your credit file!!
Loan Amount:
Postcode:

Quotes are offered free & without obligation. We respect your privacy.

Knowledgebase
Private Mortgage Insurance (PMI):
A type of insurance that a borrower might be required to purchase as a condition of a conventional mortgage loan, if the down payment is less than 20% of the property value.