Interest

• Carrying credit card debt means that less money is available for securing your financial future.money image by cherie from Fotolia.com
  
  High interest credit card debt means that your money is going toward paying interest instead of being saved or invested.
  
  

Credit Score

• Credit card companies monitor your credit score.Checking credit card statment image by Elzbieta Sekowska from Fotolia.com
  
  Having high balances on credit card accounts will lower your credit score, making financing a car or a home more expensive through higher interest rates.
  
  

Sales and Discounts

• Interest charges and fees can add up to big money.business report image by Christopher Hall from Fotolia.com
  
  You stay within your budget by purchasing things on sale or getting a discount, but you charge purchases to a credit card that's carrying a balance. Interest charges and fees can wipe out your initial savings and blow your budget.
  
  

Universal Default

• You might think that you have your finances under control, but one slip-up could send you on a financial rollercoaster.Frustrated Punk Businessman on his Cell Phone image by Scott Griessel from Fotolia.com
  
  Prior to the Credit Card Act of 2010, a credit card company could raise your interest rate if you were late to any creditor, even if your payments to them were on-time. That has technically changed, but not by much. Now they can cancel your card and demand payment of the balance in full.