Need to get the credit cards under control?  Check out these five credit card Dos and five credit card don’ts to get back on track!

DO read your bank statements.  Check you bank statement each month to check all the credit card transactions are legitimate, and report any suspicious activity immediately.

DO look for credit cards with low or no annual fees and charges.

DO rip up out those letters from the bank offering you more credit.  You don’t need it.  If you did, you would have applied for it.  So don’t let the bank’s nice letter head suck you in.

DO pay as much as you can off your credit cards each month.  Rather than making the minimal monthly repayment, focus on reducing your card balance each pay day.

DO review your spending habits.  Stop using your credit card to pay for necessities and household expenses, particularly if you don’t have any cash in the bank at the time of the transaction.  If this is you, then you need to rethink your budget not live off credit.

DON’T apply for store credit cards.  These mostly have highly interest rates that bank and building society credit cards.  While you may be offered incentives, such as discounts on purchases at that store, these credit cards are a sure way to end loaded up with debt.

DON’T get caught up in the excitement of rewards programs.  Do your homework and consider if the benefits are there for you personally.  Read more here.

DON’T transfer your growing credit balances to one zero interest card without considering the implications.  Will you be able to pay off your entire debt in the honeymoon zero interest period?  If not, what will the interest rate revert to?

DON’T forget to think before you swipe.  A couple of big purchases will lead to big trouble.  Ask yourself the big question first – do you need it?  And if that doesn’t work, walk away and think about it.  The instant gratification of credit can lead to long-term pain.

DON’T use your credit card for every single purchase you make unless you have the money in your everyday bank account to pay for it all at the end of the moment.  This is a one-way street to living beyond your means.  Try to stick to the rule if you can’t pay it back at the end of the month, don’t use it.