Use Your Card Responsibly
Using a credit card responsibly is crucial! To avoid debt and maintain good credit, read these tips on how to properly use a credit card.
- Don’t borrow more than you can repay
This old adage is true for credit cards; they are not to be considered supplemental income; whatever you spend, you will have to pay back.
- Payment Periods
The allure of spending money you don’t have often can catch up with you. Be responsible and be sure to make each payment on time.
- High interest rates
Typical credit cards come with high interest rates that add up quickly. Shop around for the lowest rates.
- Monthly payments
Pay off the total bill each month to avoid high interest rates.
- Punishment for late payment
Beware: credit cards often come equipped with crippling late payment fees. Be sure to read all the fine print, and try to make payments on time.