The benefits of using a credit card responsibly outweigh the costs. Here are some good practices to adopt:
- Pay your bill on time and in full every month
- Keep your balance below 30% of your available credit
- Wait at least six months between credit card applications
- Review your account online weekly to track spending and avoid fraud
- Keep no-annual-fee credit cards open and active to avoid hurting your credit score
- Using a credit card responsibly is an easy and efficient way to establish healthy credit. You’ll be thankful that you did so when you’re able to borrow affordably in the future.