Credit cards, when used properly, are convenient and a great budgeting tool. Most households that have credit cards have and use an average of eight cards.

First, let’s look at the cost of a credit card. If you sign up for a credit card and pay off the balance each month you’ll be building good credit and won’t pay any interest or fees on your purchases. Your credit card might fulfill an emergency need but as you can see, it would be wise to either transfer that debt to a low or no interest credit card or pay it off as soon as possible.

Obviously, it’s best to pay your credit card balance in full every month. The average cardholder has $9800 in credit card debt and pays only the minimum monthly payments.

A smart credit card holder uses the card the same as cash-when something is charged on the card, they subtract it from their checkbook register. Aside from using this card on gas with a 5% rebate, you also receive other rebates on other goods. Whenever you use this card, you’ll receive a 5% rebate on all BP purchases in any stores. This card is worth if especially if you buy a lot of gas.