ONE:  Having a credit card and using it occasionally helps you begin to increase your personal credit rating score. A Credit Bureau score is very important since this is the only way Banks measure your ability to maintain future credit.  If your score is good, you will be able to get future lending products like school loans, lines or credit, car loans or even a mortgage.  Establishing and maintaining good credit open doors with banks and lenders for new possibilities in the future.  Consider having a maximum of 3 credit cards: Visa, MasterCard, and something else like a Department or Gas Card.

TWO:  Use a credit card when cash is not easily accepted. For example, parking ticket machines or on-line shopping.

THREE:  Use a gas card to maintain a budget for your vehicle. This makes it easy to write off this expense if you can, and also gives you points for future gas purchases.

FOUR:  Use a credit card as an emergency fund. For example, getting a Taxi/Uber, or at times when you just don’t have enough cash with you.

FIVE:  Consider using your credit card for every purchase if it is a Rewards Points Card. Collect points on every purchase and then redeem the points for merchandise or gift cards.

SIX:  Use your accumulated Reward Points to buy Birthday and Christmas Gifts. It is easy to redeem your points for gift cards.  The person receiving the gift will never know you used the gift card and if they want to return your gift for something else – they can.  It’s so easy to budget with a credit card and then get the added reward of having the credit card pay for all your gift giving every year.  What could be more economical!!