First Time Credit Card

When you’re looking for your first credit card, it’s going to be a lot like other things you do online, or in life for the first time. It’s going to be awfully confusing. Instead of sitting back and trying to research things, I thought I’d make this handy dandy little guide that should get you on the right path to finding the perfect first time card for you to use.

Where can I find my first card?

* Get a college card: If you’re going to school, I would highly recommend that you go this route. College cards generally don’t have any fees, and you’re going to get rewards too. You will want to picture these are regular cards, but designed more for students. The only downfall is that you’re going to get a lower credit limit compared to most.

* Look at secured cards: As long as you can supply the deposit, you should get approved for a secured card. What you will do is supply them with a deposit. The banks will then use this deposit as collateral. If you don’t pay your bills on the card, they will simply dip into the deposit, and they have their money. It’s a win-win for both sides. You can build your score, while they can feel comfortable that they will always have their money.

* Department stores: Sears, Kohls, and others have their own line of cards. While they aren’t that strict with applications, I’ve heard that a lot of first time appliers have had great success with applying for the first time. It’s worth a shot. Keep in mind that you’re only going to be able to use this card at that particular store though, so make sure you get it at one where you want to spend.

When you’re looking for your first card, make sure that you look for the following…

Rewards: Always get a card with rewards. Get points for every dollar you spend. Cash them in for gift cards, etc.

No fees: I hate cards with fees. If you do go the secured card route, most of them will have fees, but if you’re not going down that path, look at the fees that they are going to charge you.

Reviews: if you find a card that you like, be sure to look at the reviews. What are other people saying? If you get a good vibe, then I would go this route!


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