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Getting Your First Credit Card
We all get ourselves a credit card at some time in our lives; we acquire our first credit card as early as in senior school or when we enter college. And we all come across the same kind of problems while finding the right first credit card in terms of finding a credit card issuer or while managing the first credit card. Typically, all banks will ask you for a previous credit report that usually we are unable to provide to their satisfaction. Or sometimes they ask for some kind of guarantee that will prove us to be good paymasters. The first question that a bank will ask you while applying for a first credit card, is about your previous credit history. Since most of the younger generation usually does not possess any previous line of credit, banks tend to look at their first credit card applications disapprovingly. Thus it is not straightforward to find the right first credit card issuer as well as establishing a good credit score
You can solve this problem by first seeking a credit card issuer making a special offer. You must look for a bank that tends to offer first credit cards for individuals who are starting off with their first line of credit. You may not have an excessive credit line at the beginning, but if you continue to be a loyal customer to the bank as well as a good paymaster, you will certainly receive the benefits of higher credit in the future.
In the event that you are unable to find the appropriate issuer who is willing to start you off with you first line of credit and first credit card then you will have to help yourself by establishing you own credit history. You can start of by getting your first credit cards from either gas stations, supermarkets or from department stores. These offer fidelity credit cards to their customers. From the time that you start owning your first credit card ensure its prudent usage which will help you in the future when you actually re-apply for a bank issued credit card.
First time credit card users should realize that it is not acquiring the first credit card that is important but how well you use it. Very often, new and first credit card holders will use their first credit card extravagantly and beyond the limits of their affordability. Banks tend to look at such behavior disapprovingly and in negative light and give no exemptions to a user just because he is new and first credit card holder. All late payments will be taken as bad credit. And such irresponsible and excessive expenditures will risk the erasure of your credit as soon as it is approved. You will be termed a bad client if you continually lose your first credit card or fail to remember your first credit card information. It would be advisable to write down all information as regards your first credit card and transactions made on it. Try and avoid being reckless with money matters.
It is also wise for all first credit card holders to only own one credit card in the beginning. This will prove to be a good test to check whether you are able to balance and manage your money wisely. It will also help you to understand better the banking world, the credit card system and how it works. After a couple of years of having established a good credit history you could start applying for more credit cards. On the other hand, if you have had any problems regarding payments, it would be better to adhere to only one and the first credit card till such time that you have a control over your credit card balances.
It is always hard for first time credit card users to penetrate the banking world. But with patience, intelligence and sincerity you will be able to own a new credit card. The tough part is when you have to maintain the balances of your first credit card accounts. It is important to keep a track of all your first credit card records and transactions made on it. Also, ensure that there has been no delay on payments nor have there been any extravagant expenditure. This careful attitude and wisdom shown towards banking will get you in the good books of the banker and serve in your interest as well.
| 2009 EDITOR'S CHOICE - TOP 5 STUDENT CREDIT CARDS
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RANK |
CARD |
CATEGORY |
RATING |
APPLY |
| 1 |
 |
| Best OVERALL Student Credit Card |
| Discover Student Card |
| No Annual Fee. Unlimited Cash Rewards. Up to 20% Cashback Bonus When You Shop Online. Customer Service in Less than a Minute, Anytime. |
|
97 |
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| 2 |
 |
| Best PERSONALIZED Student Credit Card |
| Discover Student Card - Monogram Collection |
| No Annual Fee. Unlimited Cash Rewards. Personalized Card Deisgn with your initials on the Card. Customer Service in Less than a Minute, Anytime. |
|
92 |
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| 3 |
 |
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88 |
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