You’ve probably heard it a million times before, but credit cards are an important part of your financial life. They’re convenient, can help you build credit history and even offer rewards in some cases. But did you know there are other ways to use them? Here are seven tips on how to make the most of your credit card:

Get your free credit report

As a consumer, you have the right to check your credit report for free from each of the three major credit bureaus once per year. You can do this at AnnualCreditReport.com. It takes about 15 minutes and provides you with an updated copy every four months so that you’re not waiting around for an update if something changes in your account.

Find the right card

Finding the right card is about finding a balance between the two. A low-interest rate means you can pay off your balance faster and avoid paying interest, but high-interest rates will add up quickly.

Now the question is how to get a credit card for the first time? You can go for starter credit cards. According to SoFi advisors, “Starter credit cards are a type of credit card designed for consumers who have no credit history or a very limited credit history.”

Be aware of sign-up bonuses

You can get a credit card for the first time and get a sign-up bonus. This is when you’re allowed to apply for a card and get something in return, like points or miles.

There are two ways you can use your sign-up bonus: redeem it or transfer it. If you want to redeem, then use that money for something specific like travel expenses or cash back rewards. If you want to transfer it, then give those points/miles over to someone else who will use them better than yourself.

Avoid foreign transaction fees

If you travel or shop online, there may be a time when you need to use your credit card overseas. This can be a problem because many banks charge high fees for foreign transactions. Thankfully, there are some cards that don’t have these fees and even offer rewards for spending money abroad.

Don’t pay interest on purchases you make

Don’t pay interest on purchases you make. If you keep a balance on your credit card, the bank will charge you interest on that balance. Interest rates can be over 20% in some cases, so it’s better to avoid paying them if possible.

Use a balance transfer to save money on your debt

You might be able to save money by transferring a balance from one card to another. This is a good option if you can’t pay off your entire credit card bill each month. Your interest rate will be much lower if you transfer the balance from one account to another because you’ll be charged less for carrying over the same amount of debt.

Keep track of your credit score

It’s important to keep track of your credit score. Your score is a number that represents how well you manage your finances, and how likely it is that you’ll repay loans. The higher your score, the better: it means lenders see you as reliable and responsible with their money.

Even if you don’t use a credit card often, it is still important to know how to properly use one. If you want to make the most of your card and avoid paying unnecessary fees, then check out these 7 tips given above.