Guidelines for first-time credit card users

The first credit card can be exciting, tempting, and intimidating. If you are going to have your first credit card there are some ideas to consider.

  • One card is probably enough. Have just one and avoid temptation.
  • Keep a low credit limit, according to your budget, which will avoid temptations … 
  • Pay the entire balance due each month. Avoid service charges and build good credit.
  • Make your payments on time. This will help you establish a good record and avoid late fees.
  • Never allow others to use your card. You are responsible for all charges to your card. Don’t let others borrow it and don’t reveal your number.
  • Track card usage and compare your records with the information on your monthly statement.
  • Avoid using the card for cash advances. The interest rate charged for cash advances is often higher than the purchase rate, and interest is charged immediately.
  • If having a credit card is a problem, cancel it or stop using it for a while.

Having a good credit history is important. People with good records often find it easier to get credit and often get lower rates on their loans.

Thoroughly analyze the details of the card. Make sure you understand all charges and how interest charges are calculated. The fact that your bank offers you a very high limit does not mean that you have to even approach or exceed this amount. Much of credit card debt comes from overspending that we often take lightly.


Some tips for using a credit card for the first time:

  • Avoid having several cards and spending a little with each one if it is not for some benefit that is particularly convenient for you. There really are, but controlling this will benefit you. The maintenance cost of each one is usually greater than the benefit offered
  • If you are going to pay installments, first think about whether you will be able to meet all the installments. Without forgetting that many times irremediable extra expenses arise
  • Check the transactions carried out with the card and always keep the vouchers.
  •  The key you choose for your first credit card must be memorized by you. IT IS PERSONAL AND SECRET, DO NOT SHARE IT. 
  • Whenever you can, try to pay the total of the bills This way you will avoid accruing interest for payments in installments, which is where the real business of banks and cards is.
  • To the extent that you make good use of your first credit card, you will acquire a good credit profile and this will bring future benefits, while avoiding headaches, due to unpaid debts.

If you want to deepen these topics, go to the cards section.

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