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Take Charge
When You Charge
Credit cards can be an important financial asset to you and your family. And like all financial tools, they need to be used carefully. Credit cards offer
many useful features. There is the convenience of being able to buy needed items now and the security of not having to carry cash. You also receive fraud
protection and in some cases rewards for making purchases.
With these advantages also come responsibilities. You need to manage credit cards wisely by: understanding all of the card's terms and
conditions; staying on top of payments; and realizing the true cost of purchases made with credit. Using a credit card is like taking out a loan. If
you don't pay your card balance in full each month, you'll start paying interest on that loan.
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#15 Choose Wisely
The best way to maximize the benefits of credit cards is to understand your financial lifestyle — your money needs and wants.
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#16 Stay Alert
Many credit card issuers offer free, personalized alert messages to your phone and email.
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#17 Compute the Cost
Understand the true cost of your credit purchase.
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#18 Follow the 20-10 Rule
This general "rule of thumb" helps you understand how much credit you can afford.
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#19 Understand Your Rights
Credit cardholders are legally entitled to specific protections.
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#20 Know the Score
We all change over time, and so do our credit scores.
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#21 Make No Mistakes
Over 13 million people a year find inaccuracies on their credit reports — incorrect late payments, accounts that should have been closed,
other people's debt information and more.
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