Is Now the Best Time for Your First Credit Card?

Even if you strongly believe that you qualify for a credit card, it doesn’t necessarily mean you should move in this direction. Before doing so, it’s imperative to review both your situation and what you’ll get in return should you decide to proceed.

Here are a few things to think about as you ponder this question:

• Employment status: It’s never a good idea to apply for a credit card when you’re unemployed. Not only can this result in financial trouble, but it’s also extremely difficult to receive an approval without a steady income.
• Your credit history and score: If you have a brief credit history and are interested in boosting your score, responsible use of a credit card is one of the best ways of doing so. Even if you use a secured credit card for 6 to 12 months, it’ll put you on the right path.
• You’re financially responsible: Don’t apply for a credit card because you think it’s the right thing to do. Don’t apply for a credit card because all your friends are doing so. Instead, you should only make this decision if you’re financially responsible and confident in your ability to use the card in the appropriate manner.
• The best type of credit card: When searching for your first credit card, your options may be limited. In fact, you may have to use a secured credit card before moving onto an unsecured offer. With the help of the internet, you can find and compare every credit card offer imaginable. This research allows you to feel confident in the decision you make.

Only you know if now is the best time for your first credit card. With the guidance above, you should feel more comfortable making a confident decision.

When did you apply for your first credit card? Were you happy with the decision, or did you come to regret it?