One of the biggest sources of debt for consumers all over the world is credit cards. That’s because they don’t pay off their charges each month but carry over to the next month. By doing so they become liable for interest, because that balance carried forward is basically a type of consumer loan. The rate charges are extremely high, and if you miss a payment there are huge fees and penalties that must be paid. That make credit card debt very toxic, and one of the worst mistakes is to let it accumulate. Paying off balances in full, by the due date, is the way to go. That turns credit cards into a handy convenience, versus a constant financial liability, and is also a great way to improve your credit score.