Indiana MoneyWise Back to School | Page 10

Which card should I get?

Look at cards with low Annual Percentage Rates and low or no annual fees. High APR and annual fees can drastically increase your credit card debt and make it harder to pay off. Also consider a prepaid or secure credit card. It’s a great way to build your credit while staying within a specific credit limit.

How do I use this card to my benefit?

The best way to use your credit card to your benefit is to be responsible with the card and what it entails. Pay your balance on time and in full every month. Only charge what you can afford and don’t go over your credit limit. Monitor your account online and your credit history. Stay away from cash advances that can add on additional fees.

What do I do if I find myself in credit card debt that I can’t manage?

Seek out help. The worst thing you can do is not address it. Talk with your family or contact a consumer counseling agency in your area. Try visiting www.nfcc.org for more information on these agencies.