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As soon as you start earning some sort, by instinct, your brain goes into overdrive thinking about all the things you are going to buy. According to Time, young adults say they would rather use a debit card instead of a credit card. While they have good reasons for it, credit cards have great benefits if you are careful. Cash back, travel rewards and raising your credit rating are just some of the advantages that a credit card has over debit.

However, that doesn’t mean that you should immediately get a credit card and start maxing it out at the till. Here are some great credit card tips to help you in your pursuit.

1. If you can’t pay, don’t spend

It may seem like you are unrestricted in your spending, but making purchases you don’t intend to pay and charging them to your credit card only sinks you lower into debt. You will need a good rating for future investments, and a history of defaults will eventually catch up with you. Make wise purchase decisions while you are young. Future You will thank you.

2. Don’t miss your payments

Defaulting on your payments will attract fines and higher interest. If in any case, you can’t pay on time, ask your provider for redress. Most banks will go easy on you, allowing you a few days extra. To ensure you don’t miss a payment, save a payments date you can remember.

3. Double minimums

Consider paying double the minimum repayment amount. Such a payment schedule your interest and also reduces payment periods.

4. Maintain accounts

For the sake of investment, do not close your credit accounts. If they have good history and rating, they will be used to review your eligibility and perhaps even raise your credit limit.

5. The 20/30% rule

You might spend above your credit limit, but spending 20 or 30% over your limit each month is frowned upon by issuers. Overspending and a bad expenditure reputation might hurt your eligibility when you want to open another credit account or raise your limit.

We are in some harsh economic times. For millennials, getting great credit rating may your future’s greatest achievement. Being able to borrow more money might expose you to better financial opportunities.