Most credit cards charge fees under certain circumstances.

If your credit card is lost or stolen--and then is used by someone without your permission--you do not have to pay more than $50 of those charges. This protection is provided by the federal Truth in Lending Act.

The Federal Fair Credit Billing Act covers billing errors.

The finance charge is the dollar amount you pay to use credit. The amount depends in part on your outstanding balance and the APR.

It will be important to explain you payment history if you have been late in the past. An letter of explanation will most likely be required by the lender of any new line of credit.

Most credit card companies offer several kinds of cards.

Many credit card companies offer incentives to use the card and other special features.

Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year. While theft is the most obvious form of fraud, it can occur in other ways. For example, someone may use your card number without your knowledge.

Most credit cards charge high interest rates-as much as 18 percent or more-if you don't pay off your balance in full each month.

Credit is valuable. The importance of how much credit you have and how you use it goes far beyond shopping. Whether you have good or poor credit can affect where you live and even where you work, because your credit record may be considered by prospective employers.