A credit card is great to have if you are short on cash. However, you do need to be responsible with it as failing to do so can really hurt your credit score. Here are some things that you should never do with a credit card.

Shop Frivolously

Many people rack up a lot of debt on their credit cards simply because they shopped frivolously. They bought all sorts of things that they couldn’t afford just because they felt like buying them. If you plan on using your credit card, make sure you buy things that you actually need and can pay for in the near future.

Only Paying The Minimum Payment

Credit cards make money by charging you interest. If you only pay the minimum payment every month, you will have a difficult time paying off your credit card. It’s a good idea to pay your credit card balance in full each month. If you can’t afford to pay the full balance, you do need to pay off as much as you can.

Forgetting To Pay It

You will need to pay your credit card bill by a certain due date that’s determined by the credit card company. Failing to pay your credit card will result in a late fee, and the credit card company may report your payment as late to each of the credit bureaus. This can bring down your credit score. In addition to all of this, the credit card company can close your account if you keep paying your bill late. If you are having a difficult time remembering to pay your credit card, make it a point to pay it as soon as you get your billing statement.

Letting Your Friend Use Your Card

Most of us have had a friend ask to borrow money at some point. If you find yourself in this situation but are short on cash, you may be tempted to let your friend use your credit card. However, this isn’t a good idea. If your friend doesn’t pay you back, you will be stuck with the bill. They could rack up hundreds of dollars in charges that you are ultimately responsible for.

A credit card can help you out quite a bit if you are in a jam. However, you do need to avoid making the mistakes mentioned above. Always keep in mind that a credit card isn’t just free money. You will need to pay off everything that you charged on it as soon as possible in order to avoid interest charges and late fees.