http://www.thetruthaboutdebtandrefinancing.org/ Most people find that they need a credit card. It’s a sad thing that it’s sometimes seen as more valuable than cash. This scenario applies to reservations and security deposits more than anything and when you spend with a credit card, you have to be careful to factor in the interest you are going to pay. Whenever possible, don’t carry a balance on your card.

For the instances when you need a card, hopefully you’ve shopped around for one with a low interest rate and minimal (if any) membership fee.

A very important tip to debt reduction is that you should only have one credit card. If you have one credit card, you’ll only have one credit card payment each month. Keep a low credit limit and shop for a card with a good interest rate and do your best to keep the card free and clear. This way, you have it for reservations and for emergencies but are not using it to live on.
The more credit cards you own, the greater chances you have of uncontrolled spending and having to pay mountains of money in interest fees.