Credit cards used wisely

A credit card can be your ally when it's managed correctly. It can help build a positive credit score, get you out of a pinch, and even earn you rewards. On the other hand, poorly managed credit can be detrimental to your credit score, and cost you more than you imagined.

Keep these tips in mind:

Limit your number of cards: It's easier to keep track of expenses, and reduces the chance of a missed payment.

Transfer credit card debt: It's a goo idea to always pay your credit cards in full each month. If you are carrying a balance, a personal line of credit offers a much better interest rate.

Don't spend what you don't have: Use the convenience of a credit card only knowing the money is in the bank.

Be diligent with payments: Never pay the minimum only. Your original purchase could end up costing you twice as much.

Avoid missed or late payments: You could incur additional fees and a black mark on your credit rating