Saturday, February 14, 2009

Useful tips for first time credit card getters

Most of us get credit card on our name when we start going to college or when we are in senior years of high school. Everyone when getting his/her first credit card faces same type of problems regarding finding right issuer and managing the credit card. Even I faced the same problem when I was trying to get my first credit card but I found it more problematic when it came to managing the balance in credit card.

The bank asks for previous credit history whenever we go to them for getting our first credit card. Since most of us don’t have any previous credit history, so in that case bank never responds positively towards the application. There are two solutions of this problem. First is, looking for a bank who are offering credit card for people who have no credit history and are starting their first credit line. But in that case, you should be a good payer and a faithful customer to the bank in order to receive more credit line in time. But in case if you are not able to find any bank with such offer then there is also second option. There are many gas stations, supermarkets and departmental stores which offers fidelity credit cards to persons who are their customers. So you can get a credit card from such types of departmental stores, supermarket or gas stations by becoming their customers. After becoming owner of card, be sure to use it properly and balance it intelligently. After few months with some credit history, you can again apply for credit card to any bank.

Now after getting first credit card the major issue is how to use the credit card properly? Most of first time credit card getters starts shopping and spend that much money which they are not able to pay back to bank. There is no relaxation or exception policy in banks for first time credit card getters. All late payments are count as bad credits and your credit card can be ceased too and then you’ll be considered as a bad client among all banks. So there are few tips which you need to remember regarding usage of your credit card and be good client of bank:

  • Avoid unnecessary expenditure using your credit card.
  • Maintain all information regarding money transaction you made through your credit card.
  • Own only one credit card in the beginning. Give yourself time to become familiar with the banking world and information related with it. If you are able to maintain your first credit card, then you can apply for another credit card after one or two year.
  • Always pay back to bank before time to be a good client of bank.

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