A Simple Guide on How to Use a Credit Card for Beginners

1. A Simple Guide on How to Use a Credit Card for Beginners Nothing beats the feeling of getting your first credit card. It’s almost like a rite of passage into adulthood, allowing you to buy what you want and pay for it later. But with this purchasing power comes great responsibility. Make sure to use your credit card wisely so that you don’t end up needing credit repair in Texas later on. Getting started Almost 200 million Americans have credit cards, and the number keeps growing each year. Here are the most important things a beginner must know:  Applying for a credit card Credit card applications are very straightforward; however, you’ll need to meet some requirements in advance. First, you must be at least 21 years old with a verifiable source of income. In addition, you must have a Social Security number and a positive credit history.  Your credit card statement Your bank will send you a statement each month outlining your account activity. It will include your total card balance, available credit limit, purchases, minimum payment due, and payment due date.  Credit card fees Everything comes with a cost, and credit card issuers are certainly not shy about charging various fees. Expect to pay fees for balance transfers, cash advances, late payments, and foreign transactions. Tips on using your credit card wisely Everybody knows how to swipe a credit card, but most people are not aware of how to use their card responsibly to build their credit. For example, consistently making late payments can lead to a poor credit score, which means you’ll most likely need credit repair in Texas later. To avoid such problems, be sure to do the following:  Pay on time, every time. Did you know that your credit card history makes up 35% of your FICO credit score? So if you plan on getting a mortgage and other major loans later on, it’s important to build and maintain good credit by paying your credit card on time. Luckily, you can set up automatic payments to make it easier to stay on top of your bills. In addition, it’s also best to pay in full whenever possible.  Take advantage of your benefits and rewards. Your issuer will offer numerous benefits on top of your cards, such as complimentary airport lounge access and rental car insurance. Plus, you can earn rewards for every purchase! Don’t hesitate to take advantage of these benefits to make the most of your card.

2. Did you misuse your credit card and can no longer manage your debt? Fix your low credit score and your financial life by working with a trusted company that provides credit repair services in Texas!