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4 Things You Most Likely Didn’t Know About First Credit Card | first credit card

How many times have you applied for a credit card only to be rejected the first time you go in? Or been accepted the first time but found yourself paying way over the odds on any purchases you make? If this sounds like you then you should consider applying for your first credit card. Applying for a credit card is fairly simple these days and can take just a matter of minutes. It's important to remember though that you do not want to end up with a credit card that is just about making money for the company rather than being able to buy things you want.

Applying for your first credit card will generally require that you be at least eighteen years of age, but some credit card companies will have more stringent age requirements. You will also usually have to be in employment, be in full employment (unless you're a student) and earn above a certain earning amount each year. However, all this may seem rather confusing, so what are the top credit cards? There are many different credit cards that you can apply for and many different interest rates as well. So it may be difficult to decide which one is best for you.

The first step in applying for your first credit card is to look at your current credit accounts. This will give you an indication of how much you can handle financially. Look at your credit history length to see if you have any late payments or outstanding debts. An example of this would be a late payment on a utility bill.

If you currently have a good credit history length and you think you would be able to handle buying items, then the first credit card that you should apply for is a credit card with a low rate. Even if you are in a good position on your current bills, it might not be worth applying for a higher credit score just to pay for everyday expenses. If you think this might be the case for you then apply for a credit card that offers cash back or rewards. A credit card that offers cash back and rewards will make it easier to pay your bills on time since you will get that money back anyway, plus you get to use that cash for other things, so the cash back or rewards feature isn't such a bad deal. If you are in a situation where you think you may need more than the average age credit accounts allow, then start building up some additional credit by opening a savings account and make at least a deposit each month until the funds are used.

You don't want to build up too much credit with your first credit card because this can make it harder to make payments each month. Many rewards credit cards offer no annual fee and a low fixed interest rate. These are great options for young people since these zero or low fees mean that there will be no need to keep paying a lot of interest so that you aren't paying out a lot of money in finance charges each month. You should always try to pay your bill on time, so do what you can to keep that bill from piling up, otherwise you are just making money for yourself and not for your lender.

In fact, having a lot of available rewards can actually hurt you when it comes to your credit score. Some cards actually have a cap on the amount of cash rewards you can get back. That is why it is important to read all the fine print before signing up for any of these types of credit cards. There are some rewards credit cards that will give you a small cash rebate, but then it is just a flat fee that you must pay each month, and that's it. You don't get anything for these cards except for the cash rebate.

If you want to sign up for the best first credit card, then it is best to look at all the perks, benefits, and annual fees that come with the card. Make sure that there are no annual fees involved, because then that means you can avoid having to pay one for this card. You need to see if you have to pay a security deposit, other than the one already included in your introductory offer.

Other things you should look for in these first credit cards are minimum monthly payments. The minimum payment is something you should make sure you do, because that way you won't be paying more than the minimum every month. The best first cards will offer you a balance transfer, which means that you can transfer your balance between credit cards and then you only have to make one payment every month instead of several. This way you can also reduce the amount you have to pay for interest each month. Also, some of these credit cards will let you earn air miles for being a loyal customer, so you could earn a few thousand dollars in points each year. These first credit cards will offer you many things, but they are best suited for people who have decent credit scores and who make their payments on time every month.

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