Comments on: 6 Credit Card Rules That 20 Somethings Must Follow http://studenomics.com/credit/6-credit-card-rules-that-20-somethings-must-follow/ Fri, 10 Feb 2012 19:14:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Roger http://studenomics.com/credit/6-credit-card-rules-that-20-somethings-must-follow/#comment-8112 Roger Fri, 17 Jul 2009 02:33:39 +0000 http://studenomics.com/?p=1400#comment-8112 I'll second Katie's comment; if you are following the other rules, having the highest credit limit possible can only help your credit score. That said, if you are the sort who gives into temptation easily and needs to have an outside influence reigning in your spending, having a low credit limit (or better yet, using a prepaid credit card) would be a good idea. I would expand #6 (or add a seventh rule) to know exactly what terms apply to your card, and make sure they fit with your card usage. If you spend enough in the right categories so your rewards are high enough to justify the fees, a card with a fee could make sense. I’ll second Katie’s comment; if you are following the other rules, having the highest credit limit possible can only help your credit score. That said, if you are the sort who gives into temptation easily and needs to have an outside influence reigning in your spending, having a low credit limit (or better yet, using a prepaid credit card) would be a good idea.

I would expand #6 (or add a seventh rule) to know exactly what terms apply to your card, and make sure they fit with your card usage. If you spend enough in the right categories so your rewards are high enough to justify the fees, a card with a fee could make sense.

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