6) If you feel you might be in trouble with credit card borrowings, don’t feel stigmatized by your debt woes and don’t bury your head in the sand. Help is at hand should you seek it, and a solution is never far away.

7) If you have a poor credit record, the sad fact is that you’re most vulnerable from the unscrupulous machinations of rip-off lenders. Be wary of "special deals" touted for credit cards for borrowers with poor or no credit history, especially if they're being offered by small-time lenders. Poor credit deals often involve inflated interest rates and onerous repayment terms.

8) If you have a large outstanding balance, but money in the bank – use your cash! It might sound obvious, but the interest paid on savings is usually far less than interest charged on borrowing, so paying off debts with savings makes plenty of sense.

9) There’s a vast array of different cards on the market – not just credit cards. ATM cards, charge cards, even different types of credit cards can be confusing to many consumers. Make certain you know what you’re letting yourself in for before applying. The wrong financial product can be a costly mistake.

10) Remember: If it sounds too good to be true, it most likely is.

So long as you’re sensible, however, there should be nothing to worry about. If you’re aware of some of the pitfalls; are cautious, without being too wary; and mindful of the commitment you’re entering, you’ll be fine.

For many people, credit cards provide sensible short term, flexible lending, that’s both cheap and convenient. You should always try and proceed carefully, but tens of millions of Americans use credit cards cheaply and conveniently every year. With a little common sense, you too can be one of them.

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