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So credit card use should be done wisely.
You need a budget credit card payment free#
While initially, it may look so, there are no free lunches in the world, and your credit card bill will come due – make no mistake about.
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Stick to a budget alwaysįor rookie users, a credit card might seem akin to a rich uncle who pays off your bills. If the student fails to meet the due payment on her card, the issuer has access to the deposited funds as collateral thus making it one of the safest way to use a credit card especially for first time credit card users. The way it works is that the parent/guardian deposits a certain amount in the student’s account with the card issuer – which would be his/her credit limit. Several banks offer these prepaid cards to students with low-interest rates and zero annual fees.
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If you’re a college student, choosing a secured credit card can be a great way to regulate your monthly spend with credit cards and stay out of a debt trap. Is it to pay off your online shopping bills – in which case you will need a card that offers generous money saving cashback on online shopping, or to pay for your rising fuel bills – where a card offering low-interest rates would come in more handy.ĭo remember no two credit cards are alike and you need to choose one which best suits your needs. In your excitement, don’t make the mistake of grabbing the first credit card you are offered. This is the first tip for first time credit card users that you need to consider before you start using a credit card. 12 simple tips for first time credit card users
You need a budget credit card payment how to#
If you’re a first time credit card user, take a good, close look at the 12 simple tips for first-time users, we have outlined below about how to use a credit card responsibly and minimize the risk of landing in a massive debt trap. But there are simple ways to you can prevent this from happening to you. This is an oft-repeated story that has happened with many first time credit card users over the years and still does. It’s the exact moment when you finally realise how much cash you have spent – without a care in the world – and now it’s time to fork out the money to pay the piper. Until a month later when your card statement arrives, and your unbridled joy turns into your worst nightmare.