Many people have owned credit cards and found themselves in trouble with high interest rates and increasing amounts of debt. This is because they either didn’t research their cards before applying for them, or because of bad spending decisions. You can avoid making these mistakes with the tips and advice from this article.

When it comes to credit cards, always try to spend no more than you can pay off at the end of each billing cycle. By doing this, you can help to avoid high interest rates, late fees and other such financial pitfalls. This is also a great way to keep your credit score high.

Don’t fall for the introductory rates on credit cards when opening a new one. Be sure to ask the creditor what the rate will go up to after, the introductory rate expires. Sometimes, the APR can go up to 20-30% on some cards, an interest rate you definitely don’t want to be paying once your introductory rate goes away.

If you are in the market for a secured credit card, it is very important that you pay close attention to the fees that are associated with the account, as well as, whether they report to the major credit bureaus. If they do not report, then it is no use having that specific card.

Credit cards often lure in new users with bonuses and gifts for signing up. It is important to really understand the specific details buried in the fine print for actually getting the bonus. One of the most common terms is that you spend a set amount of money in a set period.

Make sure you know what your interest rate will be with a given credit card. This is very important: prior to singing up with a credit card company, be sure you know what rate you’re paying. If you are unaware, you may end up paying far more than the initial price. You may find it very hard to pay off your debt each month when high interest charges are added to your balance.

Take the time to play around with numbers. Before you go out and put a pair of fifty dollar shoes on your credit card, sit with a calculator and figure out the interest costs. It may make you second-think the idea of buying those shoes that you think you need.

If you have a credit card account and do not want it to be shut down, make sure to use it. Credit card companies are closing credit card accounts for non-usage at an increasing rate. This is because they view those accounts to be lacking in profit, and therefore, not worth retaining. If you don’t want your account to be closed, use it for small purchases, at least once every three months.

Credit cards do not have to be associated with debt; you simply need to understand how to make smart purchasing choices. By utilizing this article’s advice, you will stay away from both credit card debt and high interest rates.