Searching for your first credit card will only be hard if you make it that way. If you've been searching for a while and you're still confused about the credit cards themselves, this article will help you better understand some of the important questions most first time student appliers ask. Hopefully after this read, you'll understand the concept of student credit cards.
Below are some of the questions a lot of people ask when they are looking for their first credit card. Along with the questions, we have supplied a detailed answer so that you'll be able to find the perfect credit card that fits your needs.
How many credit cards will I need to build up my credit?
The credit building game can be very tough when you don't know anything about it. A lot of things affect your credit score such as debt to income ratio, your available credit, and so much more. When you start building credit, you're only going to need to have one credit card to do so. You won't need to apply for more than one credit card just to build your credit. If you hear anything else, it's just a myth.
How do I know what credit card to get?
This answer really relies on you. When you think of a first time credit card, you think that you're going to get a credit card that has no rewards at all. This is far from the truth! In fact, if you browse around and see what kind of credit cards there are to offer, you will see that there are many rewards ranging from gas rewards to cash back rewards, it's all up to you on what you want.
The easiest way to decide which credit card will best suit you is to sit back and see what you spend your money on. If you find yourself spending your money on automotive type purchases a lot, you may want to get a gas/auto related credit card that gives you the maximum benefits. Remember, you can make the most out of your credit card, just don't overdo it! If you spend more than what you make, obviously you're going to be headed down the wrong road.
Are credit cards really bad?
Credit cards are bad if you make them that way. If you're able to pay your bill off in time each month, you will be able to avoid those pesky APR charges. If you don't think you'll be responsible enough to pay off your bill each month then I'd say avoid them altogether! You have to remember that most of America doesn't know how to manage their money; this is what gives the credit card industry such a bad name. If you want to be in the minority, spend your money wisely and you'll be fine.
The questions could go on about credit cards and if you really want to get more answers, it's best that you do your research before you apply. With the proper research and responsibility, you'll be find with a credit card designed for a college student.
