What should I be looking at in choosing a credit card?
-Annual fee
- Annual Percentage Rate (APR)
- Grace period
- Transaction fees
- Late charges
- Balance computation method for interest charges

Shop around for the best terms and make sure you understand all the terms before you accept the card.

What to do if you get a card:
- Keep a record of your account number, expiration date and customer service number of the card issuer in a safe place separate from your card in case it gets stolen/lost you can accurately report it.
- Keep all your charge receipts and reconcile them with your monthly statement; report all billing errors immediately.
- Keep your card, receipts and statements in a safe place.
- Pay bills promptly to avoid late charges as well as the problem of developing a bad credit rating.

What to avoid if you have a credit card:
- Never lend your card to anyone or leave it lying around.
- Limit the number of cards you carry with you.
- Do not use your card as if it is FREE money; the amounts are billed and you will be responsible for payments. Remember, even $1000 of debt (at a high APR) can take almost 12 years to pay off if you just pay the monthly minimum.
- A good rule of thumb is to not incur debt that is more than 10-20% of your monthly income (Ex. If you make $1000 per month, you should not carry a debt of more than $200). Unfortunately, the average debt of most college students is more than $2000.

For more information, go to www.ftc.gov/bcp/menu-credit.htm. For information on credit counseling go to http://www.non-profit-credit-counseling.org.