First Credit Card
Find First Credit Card
One of the biggest challenges when it comes to applying for a credit card may not be your previous credit history; it’s going to be the challenge of finding your first credit card. Credit cards are no different.
First Credit Card
An advantage you may have when it comes to applying for a credit card is being a college student. The reason this is going to give you the advantage is because all major credit companies such as VISA and MasterCard offer credit cards solely for students. When applying for a college student credit card, you’re going to want to make sure you’ve applied for the university you want to attend. This is important because the credit companies will ask you specific college information. It will be next to impossible to fake your information because all of the companies will follow up on it if they suspect fraud.
Just about all of the credit cards you’re going to look at will offer some sort of reward. If you never fly on an airplane, then an airline based reward card won’t benefit you at all. If you drive a lot, then a card focused on saving gas will benefit you.
Credit card rewards designed for college students are actually really good. A lot of them range anywhere from getting cash back on your purchases to bonus points every time you spend a dollar. Even if you don’t think the rewards will help you, I would strongly recommend that you apply for one because most of the times, these points will never expire.
What you’ll find when applying for your first credit card is that the APR rate is extremely high. The credit card companies feel the same way. Just remember that if you pay your bill off on time in full, you won’t be charged the finance charges.
Another note you must jot down is that a credit card company is not going to give you a high credit limit, especially as a student. Once you prove your trust, your credit card score will go up and so will your credit limit.
When on your search for your first time credit card, you have to remember that only you can prevent debt. You will have to be extremely responsible when using your credit card because most companies will lend you more money than you can handle hoping you can’t pay it off. If you’re a disciplined person and currently attending college, then a college student credit card is the area you should focus on!
Apply First Business Credit Card Tips
Most business owners understand that it is much easier and safer to make transactions with credit cards. Moreover, credit cards give you rewards, bonuses and discounts for the money you spend with your plastic. Big corporations use corporate credit cards and small business owners apply for small business credit card offers.
So you have decided to start a business and you need a credit card Start with checking your credit report. You are just starting your business so banks will consider your personal credit reputation. Most credit cards for small business require excellent or good credit score. If there are no discrepancies in your credit report and your score is high enough you can proceed to the next step – choosing a credit card.
But what to do if your credit history leaves much to be desired? Apply for credit cards that do not require good credit standing – store cards, secured cards or bad credit card deals.
Step number two is selecting the right credit card deal. Then look at the credit limit. Of course, the final decision about your credit line will be made by the bank. It will be based on your credit standing. If the main reason for getting a credit card is rewards scrutinize the rewards section.
Find answers to the following questions:
How many points or miles will you get for every dollar spent?
What can they be redeemed for?
Do these points expire?
Is there a cap on the number of miles or points you can earn during one billing period or during a year?
Is there a sign-up bonus?
Do you get extra-points/miles after your first purchase?
Do you get special bonuses for purchasing specific items?
Don’t forget about special services such as annual or monthly account summary or hotel booking assistance.
Keep in mind that it is sometimes better to apply for a card with fixed low APR than to an offer with 0%APR during the introductory period but high APR thereafter.
