Credit cards are a particularly handy form of personal credit. Great for when you are shopping online, great for when you are travelling, and great to have as a bit of an emergency back-up for those moments when you don’t have quite enough cash to cover the bills that you need to pay. But getting your first credit card is a big step and not something to be taken lightly.
Let’s take a look at which are the best first credit cards – here are some simple tips, advice, and guidance to help you make your decision.
Getting your first credit card
Whether you have some holidays planned, or you want to start to build a credit record, take stock of your personal finances and make sure that your affairs are in order if you have decided that you are ready to get your first credit card.
Where to get your first credit card
There are lots of different companies and organizations that will be keen to issue you with a credit card. Not just financial institutions, but all sorts of companies or stores are able to issue credit cards.
The best strategy is to take your first credit card out with the financial institution where you do most of your banking. There are several advantages to this, but the primary one is that you just need a simple product that doesn’t have high fees or charges. Don’t apply for a high credit limit for your first credit card, just get something small that is easily manageable.
How to get your first credit card
All credit card issuers will require you to complete an application form in order from them to consider your request for a credit card and to decide what would be an appropriate credit limit to set for you.
The advantage of applying for your first credit card through your existing financial institution is that they will be able to see your existing accounts to support your application and they will be able to link the payment of your credit card as a direct debit from your transaction account – this ensures that your credit cards debts are paid off regularly.
So which are the best first credit cards? It really depends on your personal financial circumstances, your financial objectives, and your financial goals. Do not rush into getting your first credit card, take your time and do your research, make sure you get the right credit card for you.