To receive the rate and payoff terms of your approved payment plan, you should pay your required minimum monthly payment on time. It is a good idea to send in your payment a week before it is due, or pay online to make certain your payment arrives at CareCredit before its due date. If payments are late, you will be charged interest charges on the full amount of your plan.

Missing a payment is the worst thing you can do for your credit rating and it means you will pay the most fees and the highest interest. Missing payments can lead to more late fees and an increased interest rate.

If you can not pay the full balance, pay half. If you can not pay half, pay something -- but always more than the minimum. If you just pay the minimum it may take a long time to pay off your debt, and you will pay lots of interest. If you find that you can never pay off what you have charged, re-evaluate your budget.

If you can afford it, paying your full balance every month will help you stay out of long-term debt while getting the convenience of using a credit card.

Make sure your statement reflects what you purchased. If something shows up that looks unfamiliar, call your credit card company immediately.

Make sure you only take on debt you know you can repay. If your level of debt gets too high, it can affect your credit rating. Lenders often look at the ratio of your overall debt to your income to see if you can pay your bills and still borrow.