If you are looking into getting your first credit service card there are a lot of things that you have to consider. Here are some very good tips on what to look for, what to look out for, and what you can expect in the future after receiving your first line of credit.
First of all, you need to find a card that provides you with good benefits. These benefits entail a lower interest rate, no annual fees or extra bank charges, and credit points for purchases such as phone calls, shopping trips and gasoline.
If your company offers you promotional points, make sure that you know the terms of payment and when the offer expires. A lot of times card companies will offer these low interest rates at first, but will charge you a higher balance payment later on once the interest rates go up again.
Make sure that you inquire about fees and charges before signing on the dotted line for your first credit service card contract. They may add in a yearly fee, account service charge, late payment fees, fees for cash advances and other various fees that are often times hidden until your monthly bill shows up. Compare their fees to other card companies to make sure that they are not unnecessarily taking you to the cleaners.
Research their interest rates carefully because some first credit service cards begin to charge you interest from the time of purchase. If you can, try to pay all of your bills on the internet in order to escape paying interest fees.
Be aware of billing cycles!!! Not all first credit service cards bill on a month to month basis as some are bi-weekly, so make sure that you find out if you will get dinged for lack of using your card.
There are a few ways that you can apply for your first credit service card: order on the phone, through the mail, or online.
Once you receive your credit card, you will need to activate it by calling the number listed on the back or front of your card. If they try to hook you into purchasing other services just bypass the options and sign your card before your first purchase.
And last but not least, remember to follow these golden rules: use your card with caution and be on time with your payments, pay off your entire monthly payment amount if it is possible, only use your card within your means to avoid paying interest, and always make sure that you avoid extra fees by following the terms and conditions diligently.
And, remember that bankers are fair weathered partners, for if you are in good standing they will reward you, but once you start to go into a hole of late payments, they will pull the rug from under you faster than a speeding bullet. So, be wise, and keep up on your end of the contract.