Getting your first credit card can be a huge milestone in your life. Once you figure out the way to use a credit card and to handle it responsibly, it can help you to save a lot of money. It can also help in building good credit faster. Even if you have less than perfect credit, you can get approval for First Premier credit cards. The bank will update you about your credit card application within 60 seconds!
If you are a newbie in the credit card arena, some options to consider include:
- A student credit card that is designed for college students. It can be used with a low credit balance.
- A secured credit card. This may require a cash deposit. However, these cards are comparatively easier to get.
- A credit card with fair credit.
- A credit card that you pre-qualify for, either through the bank or online.
The best time to apply for credit cards:
There is no specific date, day or time to apply for a credit card. You can get approved for First Premier credit cards at any time. The main point to note is to apply for one credit card at a time. Contrary to this, if you apply for three different credit cards in the day, it may affect the credit score. Spacing out the credit card applications may lessen the negative impact on your credit score.
The benefits of having credit cards
- They are portable and easy to use. Credit cards have more acceptances around the places rather than prepaid or charge cards.
- Credit cards are safer than cash. If the card is lost or stolen, inform the bank and block or cancel the card. If the card is found as used for fraudulent purposes, it is much likely that you will get your money back.
- The First Premier credit cards follow the policy of buy now and pay later. If you are short of cash and won’t have it until the next payday or for urgent purchase, the credit card can be of great help. However, you should be confident enough that you can pay the money back by the next payday.
- You get protection for most purchases over a certain amount if you are using First Premier credit cards.
- Freebies like air miles, reward points and cash back come with First Premier credit cards.
Things to know about credit cards
- There are various First Premier credit cards you can choose from. There are general-purpose cards which are allowed to be used anywhere. Private-label retail cards are allowed for use only at the issuing store or service station.
- There is no perfect number of credit cards you should have. Around two general-purpose cards can be more than enough for most of your needs.
- Understand the credit cards interest rates. Factors such as the credit score, income, assets, payment history are looked into while setting the annual percentage rate (APR).
- With a credit card, you are authorized for fair treatment. There is no secret in using credit cards wisely. If the cardholder gets a low-fee account, always pay on time, and carry no debt from month to month.
