Credit Card Dos and Don'ts

Follow these credit card dos and don'ts.

Credit cards are essential for many purchases, and they certainly are easier to use than checks. But before you pull out the plastic, make these basic guidelines part of your own credit management plan:
  • DO shop around for the right card. Look for low interest rates and no annual fees. Always read and understand the fine print.
  • DO pay off the entire balance before the end of the grace period so you don't have to pay interest.
  • DO know the minimum finance charge when you carry a balance.
  • DO consider using your credit card for emergencies only.
  • DO keep track of every credit card purchase each month.
  • DON'T pay bills late. Late fees are expensive and, over time, they accrue interest. They can also negatively impact your credit history. Spend only as much as you can afford—or less.
  • DON'T use a credit card for purchases less than $10. These small purchases can add up fast. Use cash instead.
  • DON'T carry a balance if you can avoid it. It's best to pay off the entire balance before the end of the grace period so you don't have to pay interest.
(1109-10800)




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