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Step 1
Compare credit card fees. Every credit card has different rates and fees for interest rates, over limit fees and overdue fees. Most have varying amounts as your minimum payment as well. Make sure to compare these rates when looking for a credit card so that you can get the best deal.
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Step 2
Get a credit card with interest rates below 20% and low over limit and overdue fees. Believe it or not, you actually want higher minimum payments. The lower the minimum payment that you pay each month, the longer you'll stay indebted and the higher your interest payments will be.
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Step 3
Watch out for temporary "teaser rates." Many credit card companies will offer introductory low APR rates of as little as four percent. This generally only lasts for six months to a year before it skyrockets to more than 20 percent. If the APR is a small number, make sure to find out what your rates will be after the introductory period.
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Step 4
Read the small print. All the really important information about your account will generally appear in small print near the bottom of the page. Read everything and make sure you understand it.
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Step 5
Spend lightly. Try not to carry more than one or two cards on you. The more you spend, the more you owe. This seems obvious, but far too many people rack up tens of thousands of dollars in credit card debt because they don't pay attention to the amount they spend on each of their credit cards.
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Step 6
Pay them all off. Most people just pay the minimum payments on their card(s) and that's it. Doing this can cause you to rack up even more debt when that APR comes into play. It's best to pay off as much of your debt in one shot as possible. If you can pay off the entire bill, then do it.
