Do not be late. If you miss the deadline for your credit card payment, you will incur fees and high interest charges, starting a cycle that may never end. It’s most efficient to use your credit card for convenience — not credit — and pay the balance in full each month. Can’t do it? Then you may be buying things you really can’t afford. By settling for the minimum payment each month, you will cost yourself thousands of dollars over time. “The best advice is to make the payment on time and pay the whole thing off,’’ Adams said. “Don’t miss a payment — ever. And pay more than the minimum if you can. That will do the best service to your credit score.’’ Carrying a high credit-card balance from month to month sets off alarm bells. It makes you look irresponsible to lenders.
