The Do's and Dont's of Credit: Use your card wisely
Do
- Pay your bills on time.
- Pay at least the required minimum monthly payment shown on your statement.
- Contact your creditors if you're having trouble making payments.
- Shop around for credit.
- Read your statements and other mailings from your credit card company carefully — this way you'll always be up to date about any fee increases or rule changes.
- Read the cardholder agreement carefully.
- Make yourself aware of the penalties for missed payments.
- Request your credit file from the credit bureau at least once a year and make sure it is accurate.
- Deal with companies you know and trust.
- Use a credit calculator to figure out total price when paying with credit.
Don't
- Buy on installment without having evaluated all other possibilities.
- Give personal information or your credit card account number over the phone or the Internet unless you're dealing with a company you trust.
- Be misled into thinking small payments will be easy.
- Accept or use any form of credit until you understand and are comfortable with its terms and conditions.
- Wait to report unauthorized transactions on your account.
- Exceed the credit limit on your credit card
- Lend your card to anyone.
