DENVER (CBS4)– Men and women all use the same major credit cards but one gender pays more for the convenience– women.

According to a new study by the National Education Foundation, more women make expensive mistakes with their cards including misusing and overusing their credit cards.

For the study, 28,000 women were surveyed about their credit card habits. It found that more women are likely to carry a balance, more likely to pay a minimum payment, more likely to be charged a late fee and pay a half-percent higher interest rate.

Local financial experts have some advice for women who want to avoid those pitfalls.

  • Improve your credit literacy with for tips, calculators and worksheets.
  • Always ask your card issuer for a better interest rate. Check online sites like to get an idea of the range of rates being offered.
  • Pay on time or early to avoid late fees.
  • Pay more than the minimum required payment.
  • Consolidate your credit cards, keep retailer-specific credit cards to a minimum.

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