What are some wise decisions i need to make before choosing to sign up for credit cards?
Answers:
Decide before getting the card that you will only use the card sparingly and only if you can pay it off in 1-2 months.
Always check the small print of the cards you apply for:
- what is the interest rate usually a prime plus amount
- avoid anual fee credit cards
- what is the grace period (20 - 25 days to pay off a balance before interest is charged)
- what happens if you are late
- does your bank offer a card? some banks offer "package" benefits if you have multiple products with them (Wells Fargo for one)
- decide before getting the card that you will start with just one card, then when you are out of college and have a job you can think about getting one more
A credit card can be a great way to start building credit as long as you pay it on time, and avoid getting yourself into a ton of debt on the card
check out your all ready bills ya have==can ya afford another plus interest=get your credit report from cc bureaus,,that's the first step
How you are going to pay them. If you are only going to make minimum payments you need to know what interest rate. To build credit try paying more than minimum payments or even better pay them off when due. Are there any fees for using the card? I write the credit card on the due date in my bank record book and when I purchase something on that card I write it in on this book. That way I know how much I have to pay each month when the statement comes in. I mostly waite to make purchases until the statement date is past that way I get to use their money for quite a few extra days. You are young don't get carried away with how easy it is to make purchases and put them on a credit card. Bad credit follows you for years and who knows what life holds.
go for AMEX i think its a good card
Just be careful. Also, realize that just because you have the cards doesn't mean you have to use them. If you do charge on them, then pay them off when the statement comes. It's too easy to think that you can buy whatever you want and put it on your charge card. Next thing you know, you've got them all maxed and you can't make the payments. Just get one or two and use them occasionally so it will show up on your credit report that you have them and the accounts are in good standing. Don't go crazy with them and get in over your head.
something with a low limit and the apr is low like under 14 %
Go for a credit card with the lowest interest rate
Select the best offers on the credit card APRs.
Choose a credit card allowing you to transfer your balance.
Maintain a good customer standing.
Read the terms and conditions applied for 0% APRs.
Go for the credit cards with reward programs.
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