Office of Student Aid : Loans : Managing Your Loan Debt : Credit Card Basics : Credit Card Responsibilities

As soon as you make the first purchase on a credit card, you have entered into a legal agreement with the credit card company. You are then obligated to fulfill the terms and conditions of the agreement. Here are some other responsibilities to consider:

• Keep your card with you, or in a safe place, at all times.
• Keep a record of your account number, interest rate, penalty fees, and customer service numbers with your financial information for quick reference.
• Read and keep all of the "fine-print" materials provided from any new or existing credit cards. If you do not understand something, call the issuing company for clarification.
• Refrain from giving your credit card or credit card number to friends.
• Verify all receipts for accuracy before signing, and keep all receipts to check against your credit card billing statement.
• Inform the credit card company immediately if you lose your credit card.
• Become familiar with the consumer credit laws that protect you. For more information, access the National Institute for Consumer Education.