5 Points to Note When Applying For Your First Credit Card

5 Points to Note When Applying For Your First Credit Card

Using a credit card is good to easily finance your project or even your journey. They make it easier to travel and even be a good thing to bank on in times of emergency. But just like things have both the good side and bad sides. Credit cards can also be your shortest route to making a costly financial mistake.5 Points to Note When Applying For Your First Credit Card

One of the commitments to make as you apply for your first credit card is to ensure you use your card wisely.

Here are 5 Points to Note When Applying For Your First Credit Card

1. Locate Cards with the lowest available Interest Rate

The first and the most important thing you need to check properly is the interest rate attached to the card. look at is the offered interest rate on the credit card. If you do not plan to carry a balance then been aware of the interest rate is crucial. Locate the card with the lowest available rate.try to avoid anything above 20%.

2. Try to Ignore Cards With Annual Fees

Look for cards with no annual fees to begin. It is quite easy to locate one. Look at your bank or credit union to see if they have a card without annual fees

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5 Points to Note When Applying For Your First Credit Card

11 Things to Know Before Getting Your First Credit Card

https://www.nerdwallet.com › Credit Cards

Things to Know Before Getting Your First Credit Card · 1. The best credit cards aren’t for beginners · 2. A security deposit makes a credit

5 steps to selecting your first credit card – US Bank

https://www.usbank.com › financialiq › manage-debt

A first-timer’s guide to making the best decision for your wallet. · 1. Examine your finances · 2. Consider your options · 3. Evaluate annual fees.

7 Tips for First-Time Credit Card Users – CNBC

https://www.cnbc.com › select › credit-card-tips-for-ne…

New to credit? Select offers seven things to know before applying for your first credit card, starting with the possibility that you might need a deposit.

What to Know Before You Apply for Your First Credit Card

https://www.thebalance.com › … › Credit Card Basics

What to Know Before You Apply for Your First Credit Card · What’s a Credit Card and Do You Need One? · Credit Card Rewards Programs · Secured vs. Unsecured Credit …

3. Look for Card With Good Rewards

Taking advantage of the rewards that are available to you from a good Cashback card is a great place to start. They are straightforward and very easy to claim the rewards, though it for those that have low credit.

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4. Avoid Store Cards

Store credit cards are very easy to get approval for but they have the highest forms of interest rates. The use of the store credit card is limited to the location where the issuer provides. It cannot help you in times of emergency.
It is often better to get a credit card that can be used anywhere if you are applying for your first credit card.

5. Understand the Penalties

Many credit cards today will charge late payment fees and also raise your interest rate once you make credit card payment late. To familiarize yourself with the penalties are for late-payments and also when you exceed your balance.

The point stated above is essential to making the right choice. Pick the cards with the best options available to you. Don’t be late with payment as much as you can.

About Chris Git

I am an SEO person with over five years of experience. I am mostly into product lunch and review. I feed on tech, Dring Tech, and Dream tech. My hobby is knowing how everything works. You are welcome to my world of content development and product review at https://logingit.com/ I am also a financial analyst with an organization. It has been my sincere interest to help people solve their issues on credit cards. There are lots of questions in the mind of many credit card users. These range from which credit card is best? How many credit cards should I have?

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