How to Be Responsible With Credit Cards


Irresponsible spending on credit cards often leads to financial ruin. This is because consumers just spend and worry about the bills later. Credit card statements are one of the most ignored pieces of mail. Missing a payment affects your credit and results in more interest being tacked on to your balance, thus reducing your available credit.

Pay Off Balances

If you need to use your credit card, make small purchase like gas or groceries. Pay off these balances when you get the bill. Don’t let them linger by making only minimum payments. It is a good rule of thumb to refrain from making purchases that you cannot pay in full when the statement comes.

While keeping revolving credit active on your credit report it does show financial responsibility in regards to on-time payments. However, the recurring interest does not help you financially.

Pay More than Minimum Payments

If you cannot pay the balance in full when the statement does arrive, at least double the payment or make it considerably more than the minimum amount due. Paying only minimum is not paying down the principal or amount spent, it is merely cutting down the interest

Only have 2 Active Credit Cards

It is a good idea to only have 2 active credit cards. Having multiple credit cards is the leading cause of financial debt. While you may have the income and credit to qualify for multiple credit cards, maxing every card out puts you in financial distress. Two credit cards are ideal because you limit yourself to how much you can spend.

This practice also helps you better maintain your finances balancing out when the payments are due and still being able to make more than the minimum payment due.

Refrain from Frequent Retail Therapy Excursions

Credit cards should be for emergency purposes and large purchases only. Many consumers just spend and spend without thinking about the payments. Retail therapy is a big problem when you have plastic to purchase it with. A good rule of thumb here is, if you can’t pay for it with cash or it is not a necessity, leave it at the store.

Being responsible with credit accounts is important. Bad credit can stop you from buying a house, purchasing a safer vehicle and can even prevent you from being hired for employment.

Many companies require a credit check for new hires, which shows financial responsibility. It reflects on your personal character with a potential employer.

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2 thoughts on “How to Be Responsible With Credit Cards

  1. dojo says:

    Excellent advice. Keeping fewer credit cards allows you to better manage them and by paying as much as possible each month (not the minimum) will get you off debt faster


  2. Jenny says:

    Good advice. Aside from emergencies (like kids’ dental work… sigh) we don’t buy anything with the credit card that we couldn’t buy with cash anyway. We have a card that gets us Amazon points, and I don’t even wait for the statement to pay it off. I handle it all online, and frequently pay the balance as soon as the charge is no longer pending. (Something that I didn’t realize at first, but that is important to note, is that even if you pay the card(s) off completely every month, it’s not good to keep using too much of your available credit.) It might be a little obsessive to handle it that way, but using the card has never cost us a penny, and it’s scored us quite a few bucks to spend on Amazon–especially when we run larger purchases of necessities through the card and pay it off right away. For a while I followed the who-needs-credit-cards school of thought, and we didn’t have one. But I’m glad we changed our minds, because it certainly boosted our credit scores and helped us get a better interest rate on our vehicle loan, which we unfortunately needed. I sort of think people need to be sure they can pay cash for their next car, and will never need to apply for any sort of loan again, before they cancel the credit cards and never turn back 🙂


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