Nothing boosts your spending power faster than having a few credit cards. It’s a matter of simple arithmetic – each credit card you possess right now has a credit limit that’s easily 3X to 4X your monthly income. And then there are credit cards like the American Express Platinum Credit Card that have no established spending limit.

That’s a pretty scary realisation – to know that you have all of that “borrowed” financial power in your wallet. But what’s even scarier is what can happen if you misuse your credit cards and end up in debt.

But you can avoid that endless debt cycle. You just need to be aware of these dangerous mistakes that may land you in the financial black hole known as credit card debt:

Believing That Your Credit = Your Money

There are plenty of great reasons why you should have credit cards. When used wisely, ...