While a good segment of our population has become cynical and untrusting of everyone and every thing, some of us are still too trusting in financial matters.

This is especially true of young people just beginning their financial lives. They may have a network of friends that they trust and with whom they want to maintain the relationships they had in high school or college. And that can lead to one of the easiest ways to destroy credit.

If you are in that position, follow these rules and stay out of trouble.

When a friend needs a tank of gas, or “really will die” if he can’t attend a concert, you may be tempted to hand over the credit card in exchange for your friend’s promise to “Pay you back with my next paycheck.”

Two things can happen: 1) Your friend charges the agreed upon amount, but that payback doesn’t happen. That leaves you responsible for the debt, and for the interest that builds up if you’re unable to pay it when the statement arrives. Or even worse: 2) Your “friend” uses the credit card to have a whole lot of fun – as in maxing it out – and then skips.

Many a friendship has been broken over money, and lending a credit card is one of the fastest ways to make it happen. Don’t lend your credit card. Ever.

The second way to destroy your credit is to fail to pay every bill on time. A full 35% of your credit score is based on the way you handle your “accounts payable.” So even if it means staying home from the week-end’s festivities, or swallowing your pride and calling Mom for a loan, make that credit card payment by the due date.

Finally, you can quickly destroy your credit by making yourself a target for identity theft.

Right now, crooks called “phishermen” are burning up the phone lines and filling e-mail in-boxes with more and more inventive ways to gather information from unsuspecting citizens. They may call on the phone with a warning that you’ve missed jury duty and you’re in a whole ton of trouble – but they can “fix it” for you – just give them your social security number.

They may write pretending to be your bank, or even your PayPal account, telling you that your account has been compromised and you need to come to this website right now and enter your information.

You can’t predict what kind of story they’ll cook up. So follow this rule: Never give your bank account numbers, credit card numbers, social security numbers, or even your home address to anyone on the phone or on line unless you contacted them. (And not because you followed an e-mail link.)

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