If you want to get your first credit card, but you aren’t sure which one to get, don’t panic. Credit cards aren’t nearly as complicated to understand as you might think. The tips in this article can help you to figure out what you need to know, in order to sign up for a credit card.
Never use your credit card to buy something that is not in your budget. Never buy anything that you will eventually have trouble paying for.
Keep track of how much money you are spending when using a credit card. Small, incidental purchases can add up quickly, and it is important to know how much you have spend on them, so you can understand how much you owe. You can keep track with a check register, spreadsheet program, or even with an online option offered by many credit card companies.
Always read everything, even the small print. Make sure you know exactly what is being offered in that pre-approved credit card before you take advantage of it. Find out what your interest rate is and the amount of you time you get to pay it. You should be aware of any and all fees, and be aware of grace periods.
Many credit card offers include substantial bonuses when you open a new account. Make sure that you go over the fine print because a lot of these credit cards will have terms that are very specific on qualifying for bonuses. The one that comes up the most is that you’re supposed to spend a very certain amount in the next few months to qualify for the bonus offer.
When getting a premium card you should verify whether or not there are annual fees attached to it, since they can be pretty pricey. Depending on the card, annual fees for platinum or other premium cards, can run between $100 and $1,000. If you do not require a card like this, choose a card with lower or no fees.
There are many cards that offer rewards just for getting a credit card with them. While this should not solely make your decision for you, do pay attention to these types of offers. I’m sure you would much rather have a card that gives you cash back than a card that doesn’t if all other terms are close to being the same.
Instead of just blindly applying for cards, hoping for approval, and letting credit card companies decide your terms for you, know what you are in for. One way to effectively do this is, to get a free copy of your credit report. This will help you know a ballpark idea of what cards you might be approved for, and what your terms might look like.
Credit cards are a lot simpler than you thought, aren’t they? Now that you’ve learned the basics of getting a credit card, you’re ready to sign up for your first card. Have fun making responsible purchases and watching your credit score begin to soar! Remember that you can always reread this article if you need extra help figuring out which credit card to get. Now you can go and get your card.
