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Understand that a credit card is not an asset, contrary to what you may think, but a device of increasing liabilities. First the positives. A credit card helps you buy things when you may not have cash in hand but require those things urgently, helps you pay upfront if there's a medical emergency, makes traveling easier with online bookings, and definitely makes payments through net banking a big boon.

However, do a self-check if you are fit to handle a credit card for its positives. Don't get put off, I am not even remotely indicating that you do not spend responsibly. But before you take out that card to swipe, quickly think about what other items might be more urgent to buy.

If you are a sure-shot impulsive shopper, leave your credit card at home. Use the debit/ATM card, which will ensure that you spend only when you have the cash in the bank. Remember, you do not need to possess all the things that are available under the sun. Sale offers and discounts will come and go, you need not jump on the bandwagon every time.

Look for alternatives. Less expensive alternatives to the shoppiing mall branded stores may be available in a popular-but-not-so-posh market, which you would have frequented in your school/college days. You have the advantage of bargaining in many of these places, which you cannot do in a branded store and since you need to pay mostly by cash, this may act as a check on your credit card spending.

Every month, earmark a certain sum for impulse shopping/credit card spending. Decrease the frequency of using your card.

You need not be part of every social do that your friends or colleagues indulge in. There's no point in worrying about your bills every time you choose to have a good time with people. Instead, decrease the number of outings/shopping but when you do go, have fun and use your card happily.

Refuse to have more than one credit card, however attractive the offer might be. Chances are that you may lose track of your bills.

Pay off all the outstanding amount every month religiously within the due date. How do you know you will not have an emergency in the following month? You've got to save for a rainy day. Do not accept the bank's offer to opt for EMIs for credit card payments. Even to meet an emergency where you need to use a credit card, you need to have the previous bills cleared.

Always check your credit card statement. If you are not convinced about any interest or service charges levied to your bill, e-mail the bank and ask for a clarification.