How to use credit card wisely

To find the right credit card for you, it helps to determine how you use credit. Although some are saddled with thousands of dollars in debt and others pay off their balances fastidiously, most of us are somewhere in between.

Families with credit card payments greater than 20 percent of monthly take-home pay may be feeling some financial stress. Less is more when it comes to the use of credit cards. If you have too many cards, you may be hurting your credit record. A good number to have is three -- one gasoline card and two major credit cards.

Families that have more than this shouldn't just cut them up and throw them away. Write to the company and cancel the card. Until this is done, the credit record will continue to report use of the card.