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HOUGHTON -- Credit cards can be more convenient than cash and have become a necessary method of payment for some bigger purchases.  But for many consumers, their increasing interest rates and rolling balances are cause for concern.

River Valley Bank manager Keith Deforge said that when it comes to credit cards, it's important to follow the golden rule.

"I use my cards for every purchase I make,” said Deforge.  “I like the rewards points, so as soon as I get enough, I cash them in.  I just make sure I pay the balance off at the end of every month."

While most consumers know this, it can be easier said than done.

"If you do have a high balance and do get into trouble, that's usually a time that credit companies will reduce your limit or increase your interest rate,” Deforge said.  “Many have provisions that if you do miss a payment with them, your interest rate will go to the max."

Last week the Federal Reserve approved new legislation which effectively bans rate increases within the first year of an account and also requires companies to give at least 45 days notice of any rate hikes.  But some consumers say the notice isn't enough.

"I got something in the mail and said my APR was going from 5.9% to 23.99%.  I called up the credit card company because my credit score is very good and they said they couldn't do anything," said Stephanie Kajpust.

In those situations Deforge said it can actually be good to have more than one credit card in your wallet.

"I’d say three is a conservative number.  Having a couple of different cards gives somebody the option of changing companies if the one you're with is having trouble or you don't like the terms.  You’ll already have an existing relationship with a different company."

Many people feel the best kind of credit card to have is one with a local bank because there will always be someone to talk to in person if you have any problems.