Tip 1: Try to pay off your balance every month. That way you'll escape interest charges.

Tip 2: When you make a large purchase you expect to pay in installments, select a card with a low interest rate and high minimum payments. This will minimize your costs.

Tip 3: Be cautious taking cash advances. Save them for emergencies. They're the most costly use of a credit card.

Tip 4: Look for the lowest interest rate and annual fee.

Tip 5: Don't get trapped in making minimum payments. Pay larger amounts to pay the balance off faster.

Tip 6: If you have several cards and you plan to pay them off by paying more than the minimum purchase every month, begin with the one with the greatest interest rate and pay that off first, even if it has the largest balance. You'll save more in the end.

Tip 7: Be wary of "payment holidays" where the lender offers to let you skip a payment because of a holiday or good payment record. During that month, you're still accruing interest, so you'll pay more overall in the end.

Tip 8: Select the card with the least expensive cost calculation method.