How To Use A Credit Card The First Time?

credit card important information

Your first credit card can be a step toward building a strong financial future and establishing an excellent credit score—or it can lead to a mountain of debt you struggle to repay for years. Before using your first credit card, here are some tips to guide you along the right path.

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1. Set a Budget

2. Keep Track of Your Purchases

3. Set Up Automatic Payments

4. Use as Little of Your Credit Limit as Possible

5. Pay Your Bill in Full Each Month

6. Check Your Statement Regularly

7. Redeem Rewards

8. Use the Extra Perks

9. Know Your Fees, and How to Avoid Them

10. Download the Mobile App

When you use a credit card for the first time, starting out with timely payments is critical to avoiding interest charges and building a good credit score. A payment that is a day late is still a late payment, so try to pay several days before the due date.