Tips on Managing Credit Cards

How to Pay Off Credit Card

  • Stop charging your credit cards
  • Pay cash for items you must buy.
  • Rank the cards in order of the interest rate charged and use your disposable income to completely pay off the card with the highest rate.

How to Use a Credit Card

  • Completely pay off the bill every month.
  • Remember that a credit card is NOT the same as free money
  • Keep only one or two cards, not the usual eight or nine
  • Charge only what you can afford to pay back- avoid living beyond your means
  • Shop around for the best interest rates, annual fees and service fees (preferably none)
  • Pay off the debt each month, or at least pay more than the minimum
  • Still have problems? Leave the cards at home or simply put them in freezer