1 / 11

Do Better - Not quite sure how to best maximize your credit situation? Don't worry, we have you covered with this list of the most common mistakes people make — and how to avoid them. By Kenrya Rankin(Photo: LWA/Dann Tardif/Getty Images) 

2 / 11

Paying the Minimum Amount Due - Do that and those $300 shoes will cost you $3,000 with interest. If you can't pay your balance down to zero each month, you're probably whipping out your card too often.(Photo: JGI/Jamie Grill/Getty Images) 

3 / 11

Applying for Too Many Cards - Every time you apply for a credit card, it dings your score. You probably don't need more than two.(Photo: Marie Fields/Getty Images) 

4 / 11

Avoiding Them Completely - Sure, skipping credit cards can help keep you out of debt, but if you have no credit, you will have a hard time buying a car or house down the road.(Photo: Feverpitched/Getty Images) 

5 / 11

Not Shopping Around - All cards are not created equal; some have low interest rates, some offer cash back, others help you rack up rewards. Get one that meets your needs.(Photo: m-imagephotography/Getty Images) 

6 / 11

Not Reviewing Your Statement - You will never know if someone overcharged you or hijacked your card if you don't verify each of your purchases each month.(Photo: stocknroll/Getty Images)

Photo By Photo: stocknroll/Getty Images

7 / 11

Ignoring the Fine Print - From teaser 0% APRs that balloon after a year to late payment penalties, running afoul of the details can cost you money in the long run. (Photo: Luis Alvarez/Getty Images) 

8 / 11

Making Long Payments - Speaking of late payments, not only do they result in additional fees, but they appear on your credit report, too.(Photo: Yuri_Arcurs/Getty Images) 

9 / 11

Not Knowing Your Credit Score - How can you know if you're in good financial shape if you don't know your number.(Photo: Andreas Kuehn/Getty Images) 

Photo By Photo: Andreas Kuehn/Getty Images

10 / 11

Taking a Cash Advance - It sounds like free money, but with astronomical interest rates, the cash you borrow from your credit card company is anything but gratis.(Photo: JGI/Jamie Grill/Getty Images) 

11 / 11

Closing Credit Lines - Your credit score depends in large part on the credit you have available and how much of it you are using. Closing lines that you've paid off can harm that ratio.(Photo: Peter Dazeley/Getty Images) 

Photo By Photo: Peter Dazeley/Getty Images