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You Are Responsible

It is easy to get into trouble with a credit card. Just ask anyone who has filed bankruptcy. Paying with a credit card is convenient because you can get what you desire now and pay for it later. But if you don't exercise caution and self-restraint your monthly statement could be much more than you anticipated and quickly get out of hand.

Add to this the purchases you might continue to charge during the next month, and if you have paid only the minimum payment the card company will tack on finance charges that mount until the bill becomes unmanageable.

The news gets worse. If your charges continue month after month while only paying the minimum amount, you will eventually hit your limit on the charge card. Then there will be an over limit fee added to your statement. If you find it difficult to make payments on the card and send in a payment after the due date you will be hit with an additional late fee. All of these charges add up until it becomes overwhelming. If you don't get your spending under control it won't be long until you are only paying the finance charge on the charges. If your payments are late on a regular basis you could tarnish your credit report. A negative credit report can impact your life in many ways. It can make it difficult to buy a car, get home or car insurance, or get that job or promotion you were counting on.

To ensure that you do not become one of the many people who get into trouble with credit you should vow to pay the card in full each month. Don't charge more than you can afford to pay off each month. The main reason for the card is convenience and to build a positive credit history. Over charging the account, making late payments and accumulating late and over limit fees is counterproductive.

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