Borrowing is not the evil it once was thought to be. In modern society, a certain amount of debt is assumed. The key to successful financial growth is careful management of your debt. Here are some credit card tips.

Warnings for borrowers
Credit is not a right, it is a privilege granted to you by the lenders in consideration of your financial history, your prospects and your character. As long as you use credit wisely, it will be available when you need it. If you fail to use it wisely, it will be withdrawn and you will face difficulties in a society built on borrowed money. To ensure that your credit rating remains good, remember the following:

1. Never borrow more than you can afford to repay. When calculating the funds available to make monthly payments, only use current figures. Do not assume that you will receive raises or other income.

2. Always shop for a loan. Do not assume that the first rate you hear is the best one, or that you cannot find better terms somewhere else. Rates and terms vary, not only among different types of lenders but among different lenders of the same type.

3. Make payments regularly. If you are short of funds temporarily, contact your lenders and discuss the situation. But make a payment, even if it is less than the contract amount. Let your lenders know that you will make up the difference.

4. Plan your use of credit. Do not make impulsive decisions to borrow.

5. Leave room for emergencies. Having credit does not mean having to use it. If you have a $2,000 line of credit with your bank, leave some of it unused. Do not charge credit cards up to their limits.

6. Avoid the minimum payment trap. Easy credit and easy monthly payments are myths. Pay as much as you can on credit card bills.

7. Do not borrow a second large amount until you have paid off the first. Look for alternative sources of funds before you borrow.