Step into a world where the focus is keenly set on Save 1500 A Month. Within the confines of this article, a tapestry of references to Save 1500 A Month awaits your exploration. If your pursuit involves unraveling the depths of Save 1500 A Month, you've arrived at the perfect destination.
Our narrative unfolds with a wealth of insights surrounding Save 1500 A Month. This is not just a standard article; it's a curated journey into the facets and intricacies of Save 1500 A Month. Whether you're thirsting for comprehensive knowledge or just a glimpse into the universe of Save 1500 A Month, this promises to be an enriching experience.
The spotlight is firmly on Save 1500 A Month, and as you navigate through the text on these digital pages, you'll discover an extensive array of information centered around Save 1500 A Month. This is more than mere information; it's an invitation to immerse yourself in the enthralling world of Save 1500 A Month.
So, if you're eager to satisfy your curiosity about Save 1500 A Month, your journey commences here. Let's embark together on a captivating odyssey through the myriad dimensions of Save 1500 A Month.
Save $150 Off Apple's Recently Discontinued 256GB iPad Air 4 at Amazon Now
Save $150 Off Apple's Recently Discontinued 256GB iPad Air 4 at Amazon Now
Apple has released a new iPad Air, which means significant discounts are rolling out for the previous model. During its "Peek Performance" event in March, the company announced an all-new iPad Air 2022 to replace the iPad Air 4, which had been on the market for about two years. The newest model dropped at the Apple Store and other retailers March 18, but right now you can save $150 off the 256GB version of the fourth-generation iPad Air at Amazon, meaning you can pick one up today for just $600.
Part of the savings for this deal is an on-page discount, which automatically applies when you add the iPad Air to your cart and head to the checkout page. Previous versions of these at-checkout discounts have often not lasted long, so you may not want to wait too long before deciding whether this is the iPad for you.
The new iPad Air uses Apple's M1 chip and has a new front-facing camera along with an optional 5G connection if you opt for cellular connectivity. Unless you plan to be doing resource-intensive activities on your iPad, like heavy games, photo editing and the like, the previous-gen iPad Air is likely more than enough for you. It's great for games, video chats, web browsing, social media, document creation and more. There are great keyboard attachments available, and you can pair it with a discounted Apple Pencil to take your experience to the next level.
Read more: iPad Air 2022 vs iPad Pro 2021: Which M1 Tablet is Best?
Looking for a different iPad model? Be sure to check out all the best iPad deals available today.
Back to cell phone basics: Buying a non-smartphone
Back to cell phone basics: Buying a non-smartphone
For some people, smartphones and their always-on Internet connections and apps is a waste of money.
If you don't need apps or games and you can live without fast, robust access to the Net from your cell phone, then a smartphone might be expensive overkill. All four of the major U.S. wireless carriers still offer basic feature phones, which don't require expensive data plans. In this Ask Maggie, I offer some advice to a reader who is looking for one of these phones.
I also offer some advice regarding the new all-in-one desktop computers.
Going retro with a basic feature phone
Dear Maggie,
I have an AT&T iPhone 3GS. It's the worst telephone I've ever owned. And I'd say it wasn't even worth the $0 I paid AT&T for it at the time (a year ago). I have no intention of going to the iPhone 5 regardless of what's written about it. Although I get ok service here in the house I don't need a "smartphone" (I have 2 computers - one PC and one Mac laptop) and I have WiFi, so I don't need a handheld device to find places or play games or watch anything on the Internet or Google while I'm in restaurants or in the car. And I'm tired of paying AT&T for data I don't use each month just because I have an iPhone or a "smartphone" and "must" have data.
I might add that I was in the telecom industry for nearly 25 years (I worked for Sprint and MCI when there was an MCI) and the carriers are among the most rapacious greedy corporate enterprises I've ever gotten close to!
Stepping off my soapbox now. In your opinion, what's the best phone that's just a phone? I don't need to do anything but make and receive calls and do texting. I don't care about browsing or email or anything else. I just need a telephone that's simply a phone thank you very much!
Regards and thanks for your response, Mark
Dear Mark,
While there are definitely more people switching from basic cell phones to smartphones these days, I know there are lots of people out there in your same shoes. Smartphones offer tons of functionality that many people now feel like they can't live without, but the reality is that all that functionality and that ubiquitous access to the Internet is pricey. In some ways, I think it's kind of surprising that there aren't more people asking me for this same advice.
The good news is that all the major carriers, AT&T, Verizon Wireless, Sprint Nextel and T-Mobile USA, each continue to offer basic cell phones and what they call quick messaging devices that do not require data plans. The carriers recognize that there is a subset of customers who have no interest in a smartphone because it's either too complicated or too expensive. But the reality is that each of these carriers see their future in data. And they will do everything in their power to encourage as many customers as possible to sign up for smartphones that require data plans.
Overtime, I expect to see fewer of the more basic devices. But for now, carriers still offer a handful of basic phones that are either free or cost very little when you sign up for a two-year contract.
The great thing about these basic phones is that they are inexpensive. The carriers either give them away for free with a two-year contract, or you pay a minimal amount for the devices. But it's not just the upfront cost that's appealing, as you mentioned in your question, but it costs much less to own a basic phone than it does a smartphone, if you keep your services to a minimum.
For example, on AT&T, you could pay as little as $40 a month for your phone service. Compare this to the $80 a month you'd pay for the lowest amount of data you could get on AT&T's new Share Everything plan. Under that plan, the data service costs $40 a month for 1GB of data and it comes with unlimited text messaging and voice service.
Using a basic phone with no data or text messaging, could save you half. But as you start to add additional services, like text messaging and data, the cost difference is not as big. Adding unlimited texting to AT&T's basic feature phone plan is an additional $20 a month. And if you also wanted to add data, it would cost an additional $10 a month. (Data for feature phones is $15 a month if you subscribe to that without unlimited text messaging.) In total, if you wanted 450 minutes of voice service, unlimited text messaging and unlimited data for a feature phone, you'd pay $70 a month. That's only $10 less a month than you'd pay for smartphone, and you'd be getting much less in terms of the service and functionality of the device.
That said, it can offer some savings. And if you don't plan to subscribe to the data or you are not a heavy text messaging user, a basic phone that doesn't require a data contract is a good option.
My colleague Jessica Dolcourt recently updated her "best of" list in this category.
Here are her top choices:
Kyocera DurXT (Sprint)
Samsung Gusto 2 (Verizon Wireless)
Samsung +159 (T-Mobile)
LG Rumor Reflex (Sprint)
Samsung Entro (Virgin Mobile)
If you want more information on each of these phones, check out her story and the reviews of these devices.
As you can see from her list, none of these devices are available for AT&T. Since you are an AT&T customer, I have listed a few devices here that I think offer pretty good value and functionality.
Josh Miller/CNET
Pantech Swift
The Pantech Swift has a QWERTY keyboard that slides out and has an angled screen. It also has a touch screen that offers some icons for accessing some of the basic features and functionality. But CNET's reviewers Jessica Dolcourt and Lynn La were not impressed with the processor speed. And they said the touchscreen is unresponsive. Even though they don't recommend this device highly, they seem to think the Pantech Swift is the most appealing Pantech handset on AT&T with a keyboard. AT&T is currently selling it for $0.99 with a two year contract.
Pantech Renue Josh Miller/CNET
Pantech Renue
The Pantech Renue is another touch screen device with a slide out QWERTY keyboard. But CNET reviewer Jessica Dolcourt said she isn't a fan of the speakerphone or the mediocre camera. What's more, the Renue has a short battery life that many consumers have complained about in their own comments and reviews of the device. While the keyboard is nice for heavy texters, she said that the short battery life and underdeveloped camera are setbacks. AT&T sells this device for $49.99 with a two-year contract.
LG A340 LG
LG A340
The LG A340 is a standard flip-phone from AT&T. This is one of the most basic, barebones devices on AT&T's network. It's equipped with enhanced audio technology for users who are hard of hearing and it has Bluetooth so it can be used with a wireless headset and a 1.3-megapixel camera. Other features include "Text to Speech" functionality that lets you listen to your text messages as they're read aloud to you. It also comes with AT&T radio. With a two-year contract, this phone is only $19.99.
LG Xpression AT&T
LG Xpression
The LG Xpression is another touch screen phone with a slide-out QWERTY keyboard. It has a 2-megapixel camera with video, a personal organizer, Bluetooth 2.1, messaging and e-mail, 3G support, microSD card support (up to 32GB), voice dialing, a Web browser, and a basic music player. The device runs LG's standard operating system, but it also includes some social networking apps, as well as AT&T Navigator and LG Instant Note, which allows easy one touch updates to Facebook, Twitter or for sending a text messages. The Xpression is now $29.99 with a two year contract.
I hope this advice and the device suggestions were helpful. Good luck!
New computer advice
Dear Maggie,
I want to buy a 27" Windows 8 All-In-One for my parents, but don't really know which one is best for them. They're not tech whizzes (though they do like to experiment and learn new things), but they need it to work well and perform smoothly for the next five or more years. Which one(s) would you recommend on a $1500-$2000 budget?
Thanks a bunch, Josh
Dear Josh, The CNET Reviews team likes the Dell XPS One 27 the best. You may also want to consider Apple's 27 inch iMac. It's a bit more expensive, but with a budget of $2,000, it's doable.
CNET Reviews editor Rich Brown also has written about finding the best 27-inch all-in-one desktop, where he compares the Dell to the models that Apple offers. So you should check out his story, as well.
You might also want to consider the Lenovo IdeaCenter all-in-ones. Right now they only support Windows 7. But if you wait a few more weeks, you'll likely find more all-in-one computers available running Windows 8.
I hope this was helpful. And good luck!
Ask Maggie is an advice column that answers readers' wireless and broadband questions. The column now appears twice a week on CNET offering readers a double dosage of Ask Maggie's advice. If you have a question, I'd love to hear from you. Please send me an e-mail at maggie dot reardon at cbs dot com. And please put "Ask Maggie" in the subject header. You can also follow me on Facebook on my Ask Maggie page.
When you think of streaming TV shows and movies, there's a good chance that Netflix is comes to mind first. Though competition from rivals like HBO Max and Disney Plus is fierce, it's still the best choice for streaming entertainment, period.
Netflix includes a wide variety of familiar network shows and more original series, films, documentaries and specials than any of its myriad competitors. Despite challenges with retaining subscribers and a price bump, the world's first major streaming service remains our favorite choice thanks to its huge library of constantly refreshed content and its easy accessibility across different devices. In 2021, Netflix won 44 Emmys, making history and racking up more than the next two media companies combined. If you're looking for something new to watch, Netflix should be your top choice.
Like
Strong recommendation engine
Easy to use across different devices
Offline downloads available
Extensive list of movies and shows
Massive selection of original programs
No commercials
Don't Like
Cost for premium plans is on the higher end
Can't watch shows as they air on other networks
Depending on the plan you choose, Netflix costs between $10 and $20 per month, which is at the higher end for a streaming service, as you can see in the chart below. Its recent price increase shook up the streaming world and moved Netflix closer to HBO Max in terms of cost. However, the pricier package lets you watch up to four screens at once, and create different user profiles, so in theory, you could split it among friends to lower the price. Thanks to its sheer variety and number of new things to watch, Netflix also gives you the most bang for your buck.
Streaming Services Compared
Netflix
Peacock
HBO Max
Disney Plus
Apple TV Plus
Amazon Prime Video
Hulu
Monthly price
Starts at $9.99
Basic free with ads, ad-free for $5
$9.99 for basic with ads, $14.99 for ad-free
$7.99
$4.99
$8.99 (or included with $140/year Prime membership)
Basic $6.99 with ads, ad-free Premium for $12.99, Live TV for $70
The Office, 30 Rock, Bel-Air, early access to Tonight Show with Jimmy Fallon
Game of Thrones, Dune, Euphoria, DC titles
The Mandalorian, Loki, Encanto, Obi-Wan Kenobi
Ted Lasso, The Morning Show, CODA, Severance
Marvelous Mrs. Maisel, The Boys, Reacher, The Wheel of Time
Handmaid's Tale, Pen15, The Great, Bob's Burgers
Mobile downloads
Yes
Yes (Premium Plus plan)
Yes
Yes
Yes
Yes
Yes
4K HDR available
Yes (on Premium plan)
No
Yes (limited titles)
Yes
Yes
Yes
Yes
Number of streams:
1 (2 for Standard, 4 on Premium)
3
3
4
6
2
2 (Unlimited with Live TV $9.99 add-on)
How Netflix started vs. how it's going
Between 2012-2013, Netflix premiered its first original TV shows, including Lilyhammer, House of Cards and Orange Is the New Black. Today, it has a catalog of more than 1,500 original TV shows and movies, including global hits like Stranger Things, Emmy winners such as Bridgerton, The Queen's Gambit and The Crown, as well as Oscar-nominated movies such as The Power of the Dog, Tick, Tick… Boom! and The Trial of the Chicago 7.
Though the company's been known for its commercial-free streaming experience since its inception, there are plans to introduce an ad-supported tier before 2022 ends. Additionally, Netflix aims to crackdown on password sharing by charging a fee for extra users on an account. The program is still in the pilot phase, but the days of crowdfunding your Netflix subscription may soon be over.
As of 2022, Netflix has more than 220 million paid subscribers across 190 countries, after seeing a major spike in users during the pandemic. A dent in its subscriber base caused numbers to drop by 200,000, but there are still reasons to keep the service, with the main draw being its content.
What shows and movies does Netflix have?
Netflix may have had the first-to-market advantage in the world of streaming services, but it's kept its momentum with its increasing number of original shows and movies -- many of which have won critical acclaim and major awards and nominations.
Compared to other streaming platforms, you can't beat Netflix's slate of original TV shows that are now considered among the best of the modern era of television, including those mentioned above plus many more, such as Squid Game, Ozark, Never Have I Ever, Money Heist and Cobra Kai.
Read more: Netflix: The 49 Absolute Best TV Shows to Watch
Outside of TV shows, Netflix's original programs include a wide range of comedies, dramas, foreign films and shows, documentary series, anime, stand-up comedy specials and reality dating and competition shows. Not all of them are runaway hits, but many of them are, and there's enough to explore interesting shows that may not have found a home on traditional network TV. And at a time when going to the movies is more fraught than it once was, Netflix offers a place to find new films: In 2022 alone, Netflix is set to release over 100 new movies, at least one per week. The selection spans across genres and geography, and includes K-dramas, animated features, and fantasy book adaptations.
Stranger Things is one of Netflix's powerhouse originals.
Netflix
Netflix typically adds shows a full season at a time, though not while a show is airing on network TV -- so if you don't have cable or another platform like Hulu, you'll have to wait to watch for a few months to watch seasons in full.
One complaint: Netflix content sometimes can come and go without warning. The only way to tell if something is leaving the service in the next 30 days is if you happen to tap on the details page for the given show or movie -- or search online for everything coming and going in a given month.
Another potential content issue to flag: In recent years Netflix has lost some of its most popular content (such as The Office, which moved to NBC's Peacock, Daredevil, which moved to Disney Plus and Friends, which moved to HBO Max) as other networks created their own streaming services. While it started as an online video store that was trying to offer every movie and TV series online, it may be slowly becoming more akin to the old HBO -- mostly featuring its own original programming, complemented with some things it licenses from other companies.
What's it like to use Netflix?
I first subscribed to Netflix back in the first streaming days of 2007, so using the platform feels like second nature at this point. Even if you're new to it, it's pretty user-friendly: Open the app and tap on your profile (if you have one set up), and you'll see a homepage. You'll see Popular on Netflix, Continue Watching, Trending Now, Top Picks for you and a number of (sometimes oddly specific) other categories based on shows you've watched before. Mine include Critically-acclaimed Witty TV Comedies and Suburban-dysfunction TV Comedies, for example.
Netflix's design encourages scrolling -- there are so many different categories to look through, and then shows and movies within those categories to continue scrolling into. You can create a watch list to help you cut down on this, but the vast, colorful library makes it easy to spend more time looking through options than actually watching a show, so be careful.
The Netflix app operates similarly across various devices. My home page on the web browser is nearly identical to that on my Apple TV, Roku and Amazon Fire TV Stick, both in content and layout. It's more condensed on the smaller iPhone and Android phone screens, but still follows the same format, and has a clear "Downloads" tab to find content to save to watch offline on your device.
Rows and rows of content on Netflix can keep you busy.
James Martin/CNET
One difference between devices is voice commands: You might find it more or less difficult to fire up a Netflix show from your device's home screen depending on which voice-capable device you're using.
For example, when you say, "Watch Stranger Things" on the Apple TV and the iOS app on iPhone, it will first have you click which specific show (Stranger Things or Beyond Stranger Things), and then will take you to an Apple TV page for the show, and there it will give you the option to open Netflix and start episode 1. On Amazon Fire TV Stick, you can say, "Watch Stranger Things," and it will open Netflix automatically if you're logged into the app. On the Roku 4K stick, if you say, "Watch Stranger Things," it will take you right to the first episode in the app. Those are more hardware-side concerns, but interesting to note.
Once you're in the Netflix app, though, voice commands work the same across devices: Go to the Search tab, hold the microphone button to dictate, and say the name of the show you're looking for.
When you select a show or movie to watch, you have the option to fast-forward, rewind, add subtitles and change your audio settings. If you have a Premium account and a big enough 4K TV, watching in Ultra HD makes for a very cinematic experience. The show or movie you choose will also show up in your "Continue watching" section at the top of your homepage for easier access.
How much does Netflix cost?
Netflix offers three pricing plans: Basic, Standard and Premium. Here is how the costs and features break down:
Netflix plans
Basic
Standard
Premium
Monthly price
$10
$15.50
$20
Number of screens you can watch on at the same time
1
2
4
Number of phones or tablets you can have downloads on
1
2
4
HD available
No
Yes
Yes
Ultra HD available
No
No
Yes
All plans include the ability to watch on any device, and the full, unlimited collection of movies and TV shows. All allow cancellation at any time. Netflix also offers a one-month free trial.
Netflix's Basic plan costs more than Prime Video ($9 per month), more than Hulu's ad-based plan ($7 per month) but less than its more comparable no-ads plan ($13 per month). If you're on a shared Netflix account with family, chances are it's a Premium one ($20 per month) -- if you're actually splitting it between four people, that's only $5 per month each, and a strong value for all of the original content available, including some in 4K Ultra HD. Plus: No commercials on any plan.
What features do you get on Netflix?
Outside of general streaming, if you have the Standard or Premium plan, you can create different profiles for different users, and find your own list of personalized recommendations.
Netflix's recommendation game is strong, from "Because you watched" carousels that have been improved by the new "two thumbs up" feature, to the option to remove content from your home page, to its "Play Something" shuffle feature for when you're unsure what to stream.
The platform also has a particularly appealing kid's section, with a solid catalog of content including CoComelon, Pokemon: Master Journeys and Trolls: The Beat Goes On! and a much more kid-friendly user interface – including the mystery box feature added earlier this year.
If you subscribe to the Premium plan, you can watch certain shows and movies in 4K Ultra HD on 4K TVs. You'll need a steady internet connection speed of at least 25 megabits per second, and streaming quality set to Auto or High.
Netflix has more 4K content than just about any other streaming service, and a lot of its 4K shows and movies are also available in HDR. High dynamic range provides an even bigger improvement in image quality than 4K according to CNET's tests, with better contrast and color, and the difference is especially apparent on large, higher-end televisions. Netflix supports the two major HDR formats, generic HDR (aka HDR-10) as well as Dolby Vision. If you have a device that handles Dolby Vision, Netflix will play content (if available) in that format by default.
You can search for a selection of 4K TV shows and movies on the service with the Premium plan.
Sarah Tew/CNET
Data usage varies by format, ranging from about 1GB per hour for the standard-definition video to up to 7GB per hour for the highest-quality 4K streams. Downloading and streaming take up a similar amount of data, according to Netflix. If you want to avoid having Netflix eat up all of your data, you can take certain steps laid out on Netflix's website to adjust your data usage settings.
All subscribers can download TV shows and movies on the Netflix app on mobile devices for offline viewing, though certain titles aren't available to download.
Read more: 9 Handy Netflix Tricks That Can Help Make Streaming Better
Should you get it?
Netflix remains my favorite streaming platform of the increasingly large bunch. It has a huge selection of movies and TV shows old and new, tons of high-quality original programs, and an easy-to-navigate interface.
Even though it no longer offers a free trial, it's worth trying Netflix for a month if you want something new to watch.
The worst credit cards what is the worst credit card credit card very bad credit worst credit cards to have really bad credit cards what is the worst credit card credit card really bad credit really bad credit cards the worst credit cards the first credit card invented best and worst credit cards
The Worst Credit Card Mistakes You Should Stop Making
The Worst Credit Card Mistakes You Should Stop Making
There are several important benefits of using a credit card to shop. You can earn rewards, build your credit and take advantage of travel points and perks. But while shopping with a credit card can be convenient, there are also certain risks you need to be aware of.
If you pay a card late or don't pay your balance in full, you can incur fees and extra interest charges that make your purchases more expensive in the long run, especially considering today's rising interest rates, fueled by skyrocketing inflation. You could also wind up jeopardizing your credit score, which could make it harder to buy a house or get a loan.
So what are the biggest mistakes well-meaning people commonly make with their credit cards -- and what can you do to avoid financial pitfalls? I spoke with experts for their suggestions, and identified some of the most dangerous credit card behaviors. For more, learn how to get out of credit card debt and why now is the right time to pay off your credit cards.
Paying your credit card bill late
Missing a payment or making a late payment on a credit card is a major no-no. Colleen McCreary, a consumer financial advocate at Credit Karma, says this is the most common mistake people make with credit cards. Your payment history is a major factor of your credit rating and accounts for more than 30% of your overall score, McCreary said in an email.
A late payment is a one-way ticket to ruining your credit, and the ding on your report won't go away for seven years. Even worse, if your credit card bill remains unpaid, your creditor could sell your debt to a collection agency, which could tank your credit rating.
The best way to avoid late fees is to set a monthly reminder to pay your bill, and at least make the minimum payment. Most credit card companies will also let you set up monthly auto-payments, so you won't skip a beat. If you're worried you may not have enough each month to cover an autopayment, remember you can always set it to pay out the minimum, the full balance or a specified amount.
The credit bureau Experian notes that some credit card issuers may provide a short grace period for late payments, while others will mark your payment late as soon as you miss your due date.
If you do pay your credit card bill on time regularly and accidentally miss one payment, call your bank as soon as possible to see if it will offer one-time forgiveness, provided you pay in full at the time of your call. Your bank might refund your late fee and interest, but it isn't required to do anything.
While some credit card companies may mark your payment late after one day, those late payments are not reported to credit bureaus for 30 days, according to credit reporting company Equifax, If you act quickly to change your issuer's decision to mark your payment late, you could avoid damaging your credit score. If you're unable to pay your bill, you can also ask your issuer if it can create a payment plan for you.
Stop paying your credit card bill late
Sarah Tew/CNET
Maxing out your credit cards
After payment history, the second biggest factor in determining your credit score is the percentage of available credit that you are currently using. Called the "credit utilization ratio," this factor is calculated by dividing the amount you currently owe by your total credit limit, or your maximum borrowing potential.
Maintaining a high balance on your credit card compared to your total credit limit will increase your total percentage of credit used and hurt your credit score.
You usually want to keep your credit utilization ratio under 30% for a good credit score, though less is better. A good rule of thumb is to use 10% of your total credit limit and pay it off each month so you're not carrying a balance. For example, if your credit limit is $5,000, you wouldn't want to borrow more than $1,500 and ideally $500 or less.
If you find your credit card limit is too low -- for example, the amount you want to charge to your card exceeds the total you can charge on a given card -- you can always ask your credit card issuer for an increase.
Maxing out credit cards could also cost you big money if you can't pay off the total by the payment deadline. "The higher your outstanding balance (the amount of money you owe), the more interest you'll pay, which can make it even more difficult to climb out of debt," McCreary said.
Making only the minimum payment on your credit card
Your minimum payment is the lowest amount that your credit card issuer will allow you to pay toward your credit card bill for any given month -- for example, $50. The minimum monthly payment is determined by the balance on your credit card (what you owe at the end of the pay period) and your interest rate. It's generally calculated as either 2 to 4% of your balance, a flat fee or the higher amount between the two.
Making only minimum payments is one of the most common credit card mistakes, according to Katie Bossler, a quality assurance specialist at GreenPath financial wellness.
Although making minimum payments on time is still far better than paying late or ignoring your bill, paying only the minimum can cause interest to build, making it much more difficult to pay off your balance completely.
For example, if you have a $2,000 balance with a minimum payment of $50 on a credit card with an APR (annual percentage rate) of 14.55%, it will take 56 months (or almost five years) to pay off your debt, and you'll end up paying a total of $753 in interest. However, if you make a plan to pay the balance off in a year, your payments would be $180, and you'd only pay $161 in interest.
It only gets worse as the APR goes up -- at a relatively high but not unreasonable rate of 25%, a minimum payment of $50 would take 87 months (or a little more than seven years) to pay off a $2,000 debt, with a sizable $2,344 in interest payments. Meanwhile, upping the monthly payments to the same $180 would pay off your debt in 13 months, and cost only $281 in interest.
Here's an example of how making more than minimum payments can save you significant money in interest.
How minimum payments lead to higher interest
Credit card balance
Annual percentage rate
Monthly payment
Time needed to pay balance
Additional interest paid
$2,000
14.55%
$50
4.7 years
$753
$2,000
14.55%
$180
1 year
$161
$2,000
25%
$50
7.3 years
$2,344
$2,000
25%
$180
1.1 years
$281
The best way to avoid paying any interest at all on your credit cards is to pay off your full balance each month. If you can't do that, Bossler, the quality expert from GreenPath financial advisors, suggests pausing use of the credit card while you're paying it off, and paying more than the minimum to do so.
Taking out a cash advance on your credit card
Withdrawing a cash advance with a credit card is a big mistake. "It's the most expensive way to pay for things," Bossler said. Cash advances are a method of borrowing money from your credit line to put cash in your pocket "now."
Convenient as it may be, a cash advance uses an interest rate that is typically significantly higher than your standard APR. Most cards will also include a transaction fee of 3 to 5%. "This is not the way to go," Bossler said.
If you receive a "convenience check" in the mail from a credit card company, be careful. It could be a cash advance offer that's best tossed in the recycle bin. If you need some extra cash, it might be better to think about starting a side hustle or taking out a personal loan with a lower interest rate. Budgeting apps can also help track your spending, so you can pull back on expenses that can wait.
Chasing credit card rewards with abandon
If you're thinking of opening a new credit card account to get money back on your purchases, you can best manage rewards by considering your lifestyle. Heavy travelers should look for a card with frequent flyer rewards. If you spend a lot of money on groceries or drive your car often, look for cash back rewards for spending at gas stations and grocery stores.
However, you shouldn't make spending decisions based on receiving rewards. "Credit cards shouldn't be used as a strategy for buying things," Bossler said. Many cards will require a minimum amount of purchases for special rewards, or a welcome bonus to tempt you into spending more than you can afford.
Credit cards with lucrative rewards can also charge higher annual fees, for example, $100 or even $500 a year. If you're not spending enough to earn that annual cost back in rewards, you might consider a card with no annual fee.
Credit card rewards can be a powerful financial tool when used wisely, but you'll need to be careful to avoid running up your balance. Thomas Nitzsche, senior director of Media and Brand at MMI, says he often sees people making the mistake of using credit cards for rewards while ignoring the growing interest on their balance. If you're chasing rewards at the expense of your budget, consider coming up with a plan to pay your balance down instead.
Your credit score can drop when you cancel your credit cards.
Sarah Tew/CNET
Not paying off big purchases during a 0% APR period
Whether you just opened a 0% APR credit card -- which offers interest-free debt for a specific promotional period -- or a balance transfer card -- a credit card designed to accept debt from other cards -- make sure you read the fine print. Oftentimes, there's a fee to transfer your existing balance, commonly 3% of the balances transferred. Also, the introductory 0% rate only lasts for so long, typically between six and 18 months. That means you've got a limited time to pay off your balance before a higher APR kicks in. (When it does, your monthly interest gets a lot more expensive.)
To create a simple repayment plan, take the amount you owe and divide it by the number of months in your 0% APR promo period. Then pay that amount monthly to completely pay off your balance while you are borrowing without interest. For example, if you buy a $300 TV using a credit card with 0% APR for six months, making $50 monthly payments will eliminate your debt before the no-interest period expires.
Using a 0% intro APR credit card can be a good strategy to pay off your debt or finance a large purchase, but it can be risky, too. While disciplined borrowers can effectively roll balances into new accounts with 0% intro APR, Nitzche says that many people who transfer their credit card balances only make minimum payments, which can result in spiraling debt and damaged credit, leading to a point when they can no longer get approval for new accounts.
Canceling your credit cards
Even if you have paid down your balance on a credit card, there are two big reasons why you shouldn't cancel your account. Closing your account would affect your length of credit history and credit utilization ratio, two important components of your credit score. (Remember, your credit utilization ratio is the percentage of your total available credit lines across all cards you're using.)
If you close an account you're not using, your total available credit line shrinks, making your credit utilization ratio higher.
Canceling older credit cards will also shorten your credit history, leading to a significant drop in your credit score. If you do decide to cancel some of your credit cards, it's best to leave the oldest account open, as well as the one with the highest credit limit to maintain your credit utilization ratio and prevent any damage to your credit score.
It's important to note that with inactivity, credit card issuers may automatically close your account. To avoid this, Nitzche says that it's best to use each of your credit cards once in a while for small purchases.
Applying for too many credit cards
You may have heard this advice before: Don't apply for too many credit cards at once. Each time you apply for a new credit card, your credit score can drop slightly due to a "hard" credit check.
Hard credit checks require your consent and involve a full credit summary from a credit bureau. "Soft" credit checks occur when you view your credit report or a financial company requests a summary without your consent, and they don't affect your credit score. They're used for purposes such as preapproved credit card offers.
When you authorize lenders to pull your credit history, you'll see a "hard" inquiry on your credit report. According to credit score company MyFICO, a hard pull will lower your credit score by about 5 points. While it will stay on your report for two years, the deduction to your score will usually be eliminated within a year.
Too many hard pulls on your credit in a short amount of time -- for example, applying for five store credit cards in one weekend -- could affect your credit rating more, as multiple inquiries indicate higher risks of insolvency or bankruptcy. Experian suggests waiting at least six months between applying for new lines of credit to avoid lowering your credit score.
Applying for too many credit cards at once can drop your credit score.
Sarah Tew/CNET
Not checking your billing statements regularly
How often do you check your monthly billing statement? It can be an eye opener to see how much money you really charge your credit card, especially if it's routinely more than you bring home each month.
Spending $20 here and there may not seem like a huge amount, but it can add up quickly. Remember that increasing your credit utilization ratio (your percentage of credit used) will lower your credit score and high balances will cost you more in interest. Plus, how do you know how much you've charged if you aren't tracking your spending?
Tracking your credit card spending isn't the only reason to check your billing statement. You should thoroughly comb through your transactions to make sure there aren't any potentially fraudulent charges you didn't make. The sooner you discover you're a victim of identity fraud, the sooner you can contact your card issuer to dispute the charges and take the necessary steps to secure your credit card account.
For more tips on using credit cards wisely, learn six ways to get the most from your credit card and how to pick the right credit card.
The worst credit card mistakes you should stop making stupid the worst credit card mistakes you have learned the worst credit card mistakes you can make signing what is the worst credit card for airline miles what is the worst credit card company what are the worst credit cards to have the worst credit cards 2021 loans for the worst credit possible cities with the worst credit scores high and low the worst x cross high and low the worst
The Worst Credit Card Mistakes You Should Stop Making
The Worst Credit Card Mistakes You Should Stop Making
There are several important benefits of using a credit card to shop. You can earn rewards, build your credit and take advantage of travel points and perks. But while shopping with a credit card can be convenient, there are also certain risks you need to be aware of.
If you pay a card late or don't pay your balance in full, you can incur fees and extra interest charges that make your purchases more expensive in the long run, especially considering today's rising interest rates, fueled by skyrocketing inflation. You could also wind up jeopardizing your credit score, which could make it harder to buy a house or get a loan.
So what are the biggest mistakes well-meaning people commonly make with their credit cards -- and what can you do to avoid financial pitfalls? I spoke with experts for their suggestions, and identified some of the most dangerous credit card behaviors. For more, learn how to get out of credit card debt and why now is the right time to pay off your credit cards.
Paying your credit card bill late
Missing a payment or making a late payment on a credit card is a major no-no. Colleen McCreary, a consumer financial advocate at Credit Karma, says this is the most common mistake people make with credit cards. Your payment history is a major factor of your credit rating and accounts for more than 30% of your overall score, McCreary said in an email.
A late payment is a one-way ticket to ruining your credit, and the ding on your report won't go away for seven years. Even worse, if your credit card bill remains unpaid, your creditor could sell your debt to a collection agency, which could tank your credit rating.
The best way to avoid late fees is to set a monthly reminder to pay your bill, and at least make the minimum payment. Most credit card companies will also let you set up monthly auto-payments, so you won't skip a beat. If you're worried you may not have enough each month to cover an autopayment, remember you can always set it to pay out the minimum, the full balance or a specified amount.
The credit bureau Experian notes that some credit card issuers may provide a short grace period for late payments, while others will mark your payment late as soon as you miss your due date.
If you do pay your credit card bill on time regularly and accidentally miss one payment, call your bank as soon as possible to see if it will offer one-time forgiveness, provided you pay in full at the time of your call. Your bank might refund your late fee and interest, but it isn't required to do anything.
While some credit card companies may mark your payment late after one day, those late payments are not reported to credit bureaus for 30 days, according to credit reporting company Equifax, If you act quickly to change your issuer's decision to mark your payment late, you could avoid damaging your credit score. If you're unable to pay your bill, you can also ask your issuer if it can create a payment plan for you.
Stop paying your credit card bill late
Sarah Tew/CNET
Maxing out your credit cards
After payment history, the second biggest factor in determining your credit score is the percentage of available credit that you are currently using. Called the "credit utilization ratio," this factor is calculated by dividing the amount you currently owe by your total credit limit, or your maximum borrowing potential.
Maintaining a high balance on your credit card compared to your total credit limit will increase your total percentage of credit used and hurt your credit score.
You usually want to keep your credit utilization ratio under 30% for a good credit score, though less is better. A good rule of thumb is to use 10% of your total credit limit and pay it off each month so you're not carrying a balance. For example, if your credit limit is $5,000, you wouldn't want to borrow more than $1,500 and ideally $500 or less.
If you find your credit card limit is too low -- for example, the amount you want to charge to your card exceeds the total you can charge on a given card -- you can always ask your credit card issuer for an increase.
Maxing out credit cards could also cost you big money if you can't pay off the total by the payment deadline. "The higher your outstanding balance (the amount of money you owe), the more interest you'll pay, which can make it even more difficult to climb out of debt," McCreary said.
Making only the minimum payment on your credit card
Your minimum payment is the lowest amount that your credit card issuer will allow you to pay toward your credit card bill for any given month -- for example, $50. The minimum monthly payment is determined by the balance on your credit card (what you owe at the end of the pay period) and your interest rate. It's generally calculated as either 2 to 4% of your balance, a flat fee or the higher amount between the two.
Making only minimum payments is one of the most common credit card mistakes, according to Katie Bossler, a quality assurance specialist at GreenPath financial wellness.
Although making minimum payments on time is still far better than paying late or ignoring your bill, paying only the minimum can cause interest to build, making it much more difficult to pay off your balance completely.
For example, if you have a $2,000 balance with a minimum payment of $50 on a credit card with an APR (annual percentage rate) of 14.55%, it will take 56 months (or almost five years) to pay off your debt, and you'll end up paying a total of $753 in interest. However, if you make a plan to pay the balance off in a year, your payments would be $180, and you'd only pay $161 in interest.
It only gets worse as the APR goes up -- at a relatively high but not unreasonable rate of 25%, a minimum payment of $50 would take 87 months (or a little more than seven years) to pay off a $2,000 debt, with a sizable $2,344 in interest payments. Meanwhile, upping the monthly payments to the same $180 would pay off your debt in 13 months, and cost only $281 in interest.
Here's an example of how making more than minimum payments can save you significant money in interest.
How minimum payments lead to higher interest
Credit card balance
Annual percentage rate
Monthly payment
Time needed to pay balance
Additional interest paid
$2,000
14.55%
$50
4.7 years
$753
$2,000
14.55%
$180
1 year
$161
$2,000
25%
$50
7.3 years
$2,344
$2,000
25%
$180
1.1 years
$281
The best way to avoid paying any interest at all on your credit cards is to pay off your full balance each month. If you can't do that, Bossler, the quality expert from GreenPath financial advisors, suggests pausing use of the credit card while you're paying it off, and paying more than the minimum to do so.
Taking out a cash advance on your credit card
Withdrawing a cash advance with a credit card is a big mistake. "It's the most expensive way to pay for things," Bossler said. Cash advances are a method of borrowing money from your credit line to put cash in your pocket "now."
Convenient as it may be, a cash advance uses an interest rate that is typically significantly higher than your standard APR. Most cards will also include a transaction fee of 3 to 5%. "This is not the way to go," Bossler said.
If you receive a "convenience check" in the mail from a credit card company, be careful. It could be a cash advance offer that's best tossed in the recycle bin. If you need some extra cash, it might be better to think about starting a side hustle or taking out a personal loan with a lower interest rate. Budgeting apps can also help track your spending, so you can pull back on expenses that can wait.
Chasing credit card rewards with abandon
If you're thinking of opening a new credit card account to get money back on your purchases, you can best manage rewards by considering your lifestyle. Heavy travelers should look for a card with frequent flyer rewards. If you spend a lot of money on groceries or drive your car often, look for cash back rewards for spending at gas stations and grocery stores.
However, you shouldn't make spending decisions based on receiving rewards. "Credit cards shouldn't be used as a strategy for buying things," Bossler said. Many cards will require a minimum amount of purchases for special rewards, or a welcome bonus to tempt you into spending more than you can afford.
Credit cards with lucrative rewards can also charge higher annual fees, for example, $100 or even $500 a year. If you're not spending enough to earn that annual cost back in rewards, you might consider a card with no annual fee.
Credit card rewards can be a powerful financial tool when used wisely, but you'll need to be careful to avoid running up your balance. Thomas Nitzsche, senior director of Media and Brand at MMI, says he often sees people making the mistake of using credit cards for rewards while ignoring the growing interest on their balance. If you're chasing rewards at the expense of your budget, consider coming up with a plan to pay your balance down instead.
Your credit score can drop when you cancel your credit cards.
Sarah Tew/CNET
Not paying off big purchases during a 0% APR period
Whether you just opened a 0% APR credit card -- which offers interest-free debt for a specific promotional period -- or a balance transfer card -- a credit card designed to accept debt from other cards -- make sure you read the fine print. Oftentimes, there's a fee to transfer your existing balance, commonly 3% of the balances transferred. Also, the introductory 0% rate only lasts for so long, typically between six and 18 months. That means you've got a limited time to pay off your balance before a higher APR kicks in. (When it does, your monthly interest gets a lot more expensive.)
To create a simple repayment plan, take the amount you owe and divide it by the number of months in your 0% APR promo period. Then pay that amount monthly to completely pay off your balance while you are borrowing without interest. For example, if you buy a $300 TV using a credit card with 0% APR for six months, making $50 monthly payments will eliminate your debt before the no-interest period expires.
Using a 0% intro APR credit card can be a good strategy to pay off your debt or finance a large purchase, but it can be risky, too. While disciplined borrowers can effectively roll balances into new accounts with 0% intro APR, Nitzche says that many people who transfer their credit card balances only make minimum payments, which can result in spiraling debt and damaged credit, leading to a point when they can no longer get approval for new accounts.
Canceling your credit cards
Even if you have paid down your balance on a credit card, there are two big reasons why you shouldn't cancel your account. Closing your account would affect your length of credit history and credit utilization ratio, two important components of your credit score. (Remember, your credit utilization ratio is the percentage of your total available credit lines across all cards you're using.)
If you close an account you're not using, your total available credit line shrinks, making your credit utilization ratio higher.
Canceling older credit cards will also shorten your credit history, leading to a significant drop in your credit score. If you do decide to cancel some of your credit cards, it's best to leave the oldest account open, as well as the one with the highest credit limit to maintain your credit utilization ratio and prevent any damage to your credit score.
It's important to note that with inactivity, credit card issuers may automatically close your account. To avoid this, Nitzche says that it's best to use each of your credit cards once in a while for small purchases.
Applying for too many credit cards
You may have heard this advice before: Don't apply for too many credit cards at once. Each time you apply for a new credit card, your credit score can drop slightly due to a "hard" credit check.
Hard credit checks require your consent and involve a full credit summary from a credit bureau. "Soft" credit checks occur when you view your credit report or a financial company requests a summary without your consent, and they don't affect your credit score. They're used for purposes such as preapproved credit card offers.
When you authorize lenders to pull your credit history, you'll see a "hard" inquiry on your credit report. According to credit score company MyFICO, a hard pull will lower your credit score by about 5 points. While it will stay on your report for two years, the deduction to your score will usually be eliminated within a year.
Too many hard pulls on your credit in a short amount of time -- for example, applying for five store credit cards in one weekend -- could affect your credit rating more, as multiple inquiries indicate higher risks of insolvency or bankruptcy. Experian suggests waiting at least six months between applying for new lines of credit to avoid lowering your credit score.
Applying for too many credit cards at once can drop your credit score.
Sarah Tew/CNET
Not checking your billing statements regularly
How often do you check your monthly billing statement? It can be an eye opener to see how much money you really charge your credit card, especially if it's routinely more than you bring home each month.
Spending $20 here and there may not seem like a huge amount, but it can add up quickly. Remember that increasing your credit utilization ratio (your percentage of credit used) will lower your credit score and high balances will cost you more in interest. Plus, how do you know how much you've charged if you aren't tracking your spending?
Tracking your credit card spending isn't the only reason to check your billing statement. You should thoroughly comb through your transactions to make sure there aren't any potentially fraudulent charges you didn't make. The sooner you discover you're a victim of identity fraud, the sooner you can contact your card issuer to dispute the charges and take the necessary steps to secure your credit card account.
For more tips on using credit cards wisely, learn six ways to get the most from your credit card and how to pick the right credit card.
