There are an estimated 1.5 billion credit cards in use in the United States and that can make them seem pretty ubiquitous. Nevertheless, access to credit cards is a privilege not a right, and if you make mistakes, you’ll pay a price – sometimes a hefty one. Read more
It is very important to read the fine print on everything, especially financial contracts/agreements.
My practice is to maintain old credit card accounts with only minimal activity, since they are a part of my credit history.
Checking credit card balances daily is a good idea. It only takes a few minutes and, as I learned a couple of years ago, has the added advantage of being a good early warning of credit card abuse/fraud. While consumers are generally liable for only $50 in cases of credit card fraud (and most issuers waive that anyway), separating fraudulent credit card charges from legitimate ones, as well as re-establishing bill pays, and other financial linkages take time and effort too.