Getting your first credit card can be scary and intimidating. I remember when I got my first credit card, I didn’t use it for the first couple months. I was afraid I would forget to pay my monthly bill, overcharge, etc. If you keep a few tips in mind you can achieve peace of mind in this process, while allowing yourself the benefits of building your credit.
1- Sign up for a low-interest-rate first credit card with a smaller credit limit, usually around $500. I would recommend a student credit card. They are user friendly and are easier to qualify for your first time (since you don’t have any credit history)—and lots of times they even come with a free gift.
2- Only sign up for one credit card. This will make it easy to balance and organize your bills til you get used to managing your first credit card.
3- Pay your bills on time. Set an alarm on your cell phone or mark the date on your calandar, to remind you to pay your credit card bill. Always, pay at least the minmum amount owed for each month.
4- Don’t change your spending habits. Just because you have a shiny silver peice of plastic instead of a wrinkled up $5 bill does not mean that you should go crazy spending. Live within your means so that you can pay off your credit card each month.
Remember—CREDIT CARDS ARE NOT BAD. BUT, THEY CAN BE BADLY MANAGED. By following these tips you will be able to build your credit effectively in a way that will help you immensely in the future. Enjoy your first credit card experience!
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