Credit Cards

Credit cards are not bad if used responsibly.  Credit cards may allow you to purchase products and services on-line, rent a vehicle, or respond to an emergency.   Before you sign up for a credit card do your homework.  Review the information in this section starting with the helpful tips below.

• Shop around for the card that fits your needs
• Don’t complete a credit card application for the freebies
• Read the fine print – understand the fees
• Introductory rates may be temporary
• Learn the terminology
• Pay off balance each month
• If you can’t pay the balance each month, pay more than the minimum payment
• Avoid late payments – you may be charged late fees and your interest rate may increase
• Only use credit cards for emergencies
• Avoid cash advances- interest rates may be higher
• Consider student loans rather than credit cards to pay for college.  Student loans offer better interest rates and more payment options.

Tools and Tips for Managing Credit Cards