Credit cards are causing headaches for millions of Americans. A large number say they'll most likely miss a credit card payment this year. Some either forget but about 3 in 10 said that not having enough money would be their reason.
"If you miss the due date, not only are you setting yourself back for the payment, but you are also potentially setting yourself back for the credit score," said Kenneth Bertucci with Bertucci and Labiche Wealth Management in New Orleans, and that could cause you to pay a higher rate the next time.
He says the bank rewards those with a higher credit score. He says try to pay the credit card balance off as soon as you can and you should start with the highest interest.
"Paying the minimum amount is never going to get you anywhere," Bertucci added.
