Seven inches. You know the t-shirt I’m talking about. It’s the one spoofing the logo of that famous convenience store, and it’s all yours just for signing up for some credit card. While it may seem like the perfect idea, just signing your name to receive a t-shirt, one should think more carefully about what they’re getting into. Credit cards are not toys, though they can be fun.

I don’t want to admonish people against using those beautiful pieces of plastic. As all my friends would attest, that would be the ultimate case of the pot calling the kettle black. I would like to offer tips to those of you though who are new to the game of buy now pay later.

I must confess, the first credit card I ever received was in exchange for a cheap item. I was at the 1999 Major League Baseball All-star Fanfest in Boston and wanted a commemorative duffle bag. What I ended up getting in return was a Mastercard with a limit of only $2,500. I had also entered into a contract with MBNA. Now I’m sure they provide adequate service for a lot of people, but it just wasn’t what I was looking for. Anytime I had a question and called into one of those telephone centers, I had to go through more hoops than I would at Whitmore. They officially lost me though, when I found myself signed up for a magazine subscription I had never committed to. I was successful at getting rid of them, but the people were not helpful at all.

This is in sharp contrast to my experiences with the J.P. Morgan Chase Company that backs my other two Mastercards. Anytime I’ve had an issue or a question, they bend over backwards to make me happy. I also have much more generous credit limits on both my accounts. My only gripe is the constant attempt to get me to sign up for protection services, but I can deal with that.

Now I’m sure some of you have horror stories with Chase or would kiss the ground that the CEO of MBNA walks on. It makes no difference to me. What does matter is finding a bank that you have a good relationship with. After all, this is your credit rating and your future. Shouldn’t those who can have a great impact on your financial abilities down the road be people you trust?

As this is your future, be responsible. This does not mean let the card sit in your wallet gathering cobwebs. You must use the card to establish credit. However don’t go to Best Buy and purchase half the store, thinking you can forget about your payments. Those due dates exist for a reason, and you’ll incur a big penalty if you don’t meet them. You’ll also make yourself look bad in the eyes of creditors, appearing that you are delinquent and can’t take responsibility for your own spending. I have a friend who misbehaved as a freshman nearly six years ago and he still is having trouble getting a credit card today.

Paying the minimum monthly payment at least will save your reputation, but it won’t help with the debt much. As most of these cards have interest rates in the upper teens, those charges alone usually cancel the minimum amount due. I currently carry a balance of about $4000. Yet I put a minimum of $500 towards that each month. While I am still spending, I know that I am at least making some inroads. A point of note for you fans of American Express: the card that has no preset spending limit, also requires the balance paid in full each month. That’s not a good idea for those of you who want to get something for nothing in the here and now. The bottom line: if you only pay the minimum due, your grandchildren will be the ones who eventually pay your debt off.

If you’re worried that you won’t be able to responsibly handle the ability to buy almost anything you want, pick a certain thing to use your credit card for. Gas is a great option. It’s something that all of us who drive usually purchase at least once or twice a week. It’s also something that universally accepts plastic. Also, unless you drive from Boston to New York on a daily basis, the amount of charges you build up won’t be astronomical. I haven’t paid cash for gas in over three years, and even earn a little back through reward incentives.

Those incentives are a must. There are too many credit cards out there that offer you something for using the card, that unless a normal card is interest free, which they aren’t, I wouldn’t even bother. I earn free gasoline on one and airline miles on my other card. There’s a reward program of almost everything imaginable out there. While it’s true that the prize isn’t much, it’s still better than nothing.

That shiny piece of plastic in your wallet can be a wondrous thing. It opens doors to many things you might not have the cash for immediately. It also is vital in securing a hotel room, a rental car, or almost anything else that needs a deposit. Just use them with intelligence. Is a t-shirt with a sexual joke really worth mortgaging your future? Hardly.