DON’T make these credit mistakes… 🛑 💳

7 Feb 2026 · 0 min

Watch on YouTube

0:29

In this short personal‑finance video, Dan Novaes warns viewers about three common credit‑card pitfalls and how fixing them can translate into thousands of dollars saved or earned. Mistake 1 is carrying a balance, which triggers fast‑compounding interest. Mistake 2 is using the wrong card for specific spending categories, causing users to miss out on three‑to‑five‑times higher cash‑back rates and settle for an average 1% return. Mistake 3 is ignoring sign‑up bonuses; even non‑travelers can earn points on everyday purchases and later convert them to cash or gift cards. Novaes urges viewers to correct these habits and invites them to follow for more free financial hacks.

Mistake 1 Carrying a balance interest compounds and it compounds fast. Mistake 2 Using the wrong card for different categories. You could be earning three to five times more cash back, but you're sticking with 1% on average. Mistake 3 Ignoring Sign up bonuses because you don't travel, you can still earn points on everyday spend, then convert them to cash or gift cards. Fix those three and you could save or earn thousands of extra dollars for doing what you're already doing. If you want to get more of this, follow us and get all of our hacks for free.