As a borrower, you have rights and you should be aware of them. Take the time to read the fine print on all those special offers. Be a wise and cautious consumer.

Know your limits

Living with your credit cards to the maximum limit doesn't allow you breathing room for emergencies. And if you exceed your credit limit, you are in violation of the agreement you entered into with the credit card company and you may be charged a penalty fee.

Pay on time

Paying on time saves you money on interest charges. Paying your credit card bills late can result in late fees, may increase your interest rate, and may negatively affect your credit rating.

Know your interest rates and fees

Not all credit cards are the same. It is important, as a consumer, to be aware of the interest rate and annual percentage rate (APR) for a card, as well as any charges such as annual fees, finance charges, and transaction fees. When shopping for credit cards, consider service options such as cash back bonuses or free airline miles. Despite the perks many cards offer, look at them carefully to be sure that the cost to you is reasonable and fair.