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| *Loan,banking and credit>>>best credit card |
What credit card is best for someone who's never had one? |
I'm lookin though some stuff on credit cards... seeing that I need one. I have some money saved up, I'm 18 and I've never had a credit card before.. so this whole thing is kinda new to me. Just thought I should post the question while doin' a little research on my own. And see if anyone had any advice on what kind of card I should get and whatnot. The criteria for choosing a credit card seem to be- No annual fee (a few have) Visa not Mastercard (in my opinion!) Interest rate (although if you are sure to pay off the balance in full every month, the interest rate does not matter) Number of days credit - there is a cutoff date for when purchases will be included on the next bill, this is different from one card to another. Affinity - some cards give a percentage of their commission to your chosen charity Points - you can earn airmiles on some You might like to consider when you want the bill, possibly just after you pay cheque each month. Mine is on the 11th. It really is best to pay the balance every month, annual interest can be 25% in some cases! The bill tries to draw you into paying the minimum. Don't use a credit card to get cash, it costs a lot. Don't use credit card "cheques", ditto. Never pay the bill late. It cost me $35. But, as hinted in other answers, it is a good way to build up a credit rating, which might be good when you apply for some jobs. My first credit card was thru my bank. They had a 'student' credit card. there was an awesome percentage rate, and it built my credit...before I ruined it! Be careful. http://www.creditcards.com/ You don't need at CC especially at 18! Don't get one, the interest always keeps you paying, and paying.. none, stay away from them... Either through your bank, of most capitol one cards have really good apr's. Just DONT get the universal mastercard ( boy that was a huuuuge mistake). and read all fine print! I had to crawl my way out of a bad credit card... |
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