There is a lot of truth in the advice that credit cards are not a substitute for not having money. Every time you use a credit card this should be the theme replaying in your mind. And you would do good to remember the following too.

Do’s.

Always plan for the purchases that you need and those that you want. You need the essentials, and you want everything else. The ability of making a distinction might help you plan wisely.

If caught up in financial difficulties, it’s always good to talk to the issuer who might re-schedule your payments. If you simply default, that only helps to build up an unfavorable credit history and you might find yourself being denied credit next time.

Unless it is an emergency, staying within your credit limits will help you a great deal. If you must spend over the limit, ensure you are within the manageable levels, say within 30 percent.

And if your mails are flushed with more favorite deals than you currently are enjoying, you may approach your issuer for a better deal. They want to retain you as their customer, so they will listen.

Dont’s

Do not use your credit card to make house hold purchases. It’s expensive in the long run

Do not just pay the minimal amount. You will end up paying exorbitant interest. The quicker you clear the debt the better.

Do not use the credit card to purchase things you can’t afford.

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