10 Credit Card Tips

Top 10 Tips on Credit Cards


1. Shop around for the plan that best fits your needs.
2. One major credit card is sufficient.
3. Make sure when applying for a credit card that tuition and allowances are not included as “income.” The higher the income level, the higher the credit limit will be.
4. Understand a plan’s terms before you accept the card.
5. Hold on to receipts to reconcile charges when your bill arrives.
6. Pay all your bills on time! The quickest way to damage your credit history is by not making timely payments to creditors. It will also keep finance charges to a minimum.
7. Protect your cards and account numbers to prevent unauthorized use. Draw a line through blank spaces on charge slips so the amount can’t be changed. Tear up any carbon copies you get.
8. Don’t let anyone borrow your credit card--even your best friend. You will be held responsible for all charges.
9. Keep a record — in a safe place separate from your cards — of your account numbers, expiration dates and the phone numbers of each issuer to report a loss quickly.
10. Create a spending and budget plan—monthly credit card payments should never exceed 20% of your monthly income.


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