Credit Card Use for Budgeting 101
It is not wise to have more than one or two credit cards. Illicit credit card use is one of the worst offenders of American budgets. What to do with your excess cards? Copy them, cut them up, then return the copies to their respective companies marked, “cancel this credit card”. It does not count if you place them in a safe deposit box or a dresser drawer.
Be sure to verify all costs associated with your credit card. Some credit cards have very high hidden costs. Some credit cards will charge an over-the-limit fee (after allowing you to go over your limit) and a late fee charge. These fees can be excessive. Many credit card companies start with a low initial interest rate and increase it at a later date. This is okay. Just be sure that the increased rate is published and is reasonable before you obtain your card. Work on getting your credit card use under control now.
Concentrate on a plan to pay off the balance of all credit card use, then get to the point where you can pay off your credit card balance at the end of every month. Credit cards should only be used when required; an example is booking a hotel or renting a car.