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First Time Credit Card

Naturally the first thing to do if you are interested in receiving a credit card is to apply for it. One of the best things for a beginner to do is to apply for a credit card that is meant for a beginner. If you have a bank account, whether it's a chequeing or savings account, it might be best to check with your bank and inquire as to what sort of credit cards they offer to someone who has either a limited or no credit history. There are other options available if this does not work out.

Sometimes getting a credit card from a major department store or from an automobile gas company might prove to be easier then from a major credit card company. The only drawback to this it that the interest is usually much higher, but they might prove easier to obtain. The interest rate is the cost the company charges you to allow you to carry a balance from month to month. The good thing about having one of these kinds of credit cards is that as long as you have a positive credit history with the card, it will help to make it much easier to obtain one of the major credit cards in the future. If you are able to pay off the outstanding balance each month, you won't have and finance or interest charges to pay.

Another type of card that might be obtained by a beginner is known as a secured credit card. This type of card is one where you have to make a deposit in order to receive a credit limit on the card. Some of these types of cards will be automatically converted to a non secured card after a certain period of positive credit history has been reached.

Normally you have to be at least eighteen years old in order to obtain a credit card but sometimes a person younger then that age can be added as an authorized user of a card. As of 2009 all credit card applicants will have to have proof of some sort of income or they will have to have a person sign for them to get the credit card, if they are under the age of 21.

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