Given record-high interest rates, now is not the time to be taking on more credit card debt.
The Federal Reserve is expected to further hike interest rates before the end of the year, and the average credit card interest rate is already at an all-time high.
Automated payment options can help credit card holders bypass late payment fees.
"You can set it up for a lower payment," said Sara Rathner, credit cards expert and writer at NerdWallet, referring to a monthly automated card payment.
"There's no penalty charge on your card if you pay your statement balance before the due date," Ewen added.
Persons:
Sara Rathner, Nick Ewen, Guy, Ewen
Organizations:
Federal, Finance