What are the keys to using a credit card wisely, and... - Building Credit History FAQ


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What are the keys to using a credit card wisely, and what are the most common mistakes people make?

Answered on | Updated on February 27th, 2013
The content is accurate at the time of publication and is subject to change.

There are several important things to remember about responsible credit card use, but most importantly pay at least the minimum amount due each month by the payment due date. Late payments are one of the biggest reasons a person’s credit score goes down.

Other important guidelines include:

  • Only charge as much to your credit card as you can easily afford to pay off each month.
  • Keep your balance below your credit limit; try to spend less than 30% of your available credit.
  • Do not apply for too many credit cards at once – only apply for as much credit as you can afford to pay off.

Missing payments, going over the credit limit, opening too many credit accounts, and spending more than they can afford are the most common ways people to get into trouble with credit cards.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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