What You Need To Know About Getting Your First Credit Card by cmlang


									by: Stewart Smith

In spite of a lot of people owning their own credit cards nowadays, theres still a significant
majority who havent joined the bandwagon of having a credit card as a precaution to ending up
with debt that will haunt them for the rest of their lives. However, the allure of having a credit
card is sometimes too hard to resist which is why more and more people are now contemplating
on how to get a credit card of their own but they still need a lot of help when it comes to
choosing the right one.

Heres some easy tips on what to prioritize when it comes to choosing your first credit card:

* When it comes to trying to establish a credit history, there are actually a lot of banks out there
that have made it their specialty to extend VISA or even Master Card credit cards even to those
who are still greenhorns when it comes to owning a credit card. However, dont go applying crazy
as each application will actually reflect on your credit reports so if, unfortunately, you end up
getting rejected - lots of times, itll make you look pretty bad in the eyes of creditors as you may
be deemed desperate.

* If you failed in that kind of application, you can still pursue two other possible approaches.
One is to try your hand with credit cards from department stores or the ones from oil companies -
gas cards as most people call them. These pseudo credit cards will actually help you get some
credit history and are much easier to obtain as compared with credit bigwigs like VISA or Master
Card. These will help you become more qualified for a real credit card, still, dont get too excited
and start pursuing multiple applications at one time, even if you already got the thumbs up from
one company, still wait a little while before once again applying for a new card.

* Once youve been given a bank issued credit card through the proper management and handling
of your department store or gas company issued cards, you must prove to your new creditors that
you really are worthy of owning a credit card. Dont start to shop till you drop because even
though credit card companies will make more money out of your debts, this will still leave room
for them to question your ability as well as maturity to really manage a credit card well. Always
make sure that you pay your credit card charges on time and if you can, dont just pay off the
interest as this may accumulate over the years, try to actually pay off the entire thing so that
youll have a really good record with your company, prompting them to possibly giving you more
credit lines, benefits or special offers.

* Assess your credit history after a year of getting your bank issued credit card, a good and well
managed credit card history actually entitles you to the possibility of getting another credit card,
however, if theres really no need for a new one or if youve mismanaged you first one, dont even
think of applying for a second credit card line as you may end up acquiring more and more debt.

This article was posted on April 05, 2006

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