Most of us get a credit card on our name when we go to college or when we are in our senior years of high school and all of us stumble into the same types of difficulties when it comes to finding an issuer and managing the credit card. Most banks ask for a prior type of credit history that most of the time lacks and for some type of warranty that we will be good payers. It is true, finding the right issuer and building a credit card history is not easy, but it can be done.
When you apply for a credit card the bank will usually ask you questions regarding your previous credit lines. Most young people do not have any type of credit history and this makes the banks unable to positively respond to their application.
There are two things that you can do to go around this problem. One is looking for an issuer with a special offer, as there are many banks that offer credit cards for people who are just starting their first credit line. It is true that you will not have an extended credit line at first, but if you prove to be a good-payer and a loyal customer to the bank, you are likely to receive more credit line in time.
If, however you cannot find an issuer that will give you a first chance with credit lines, you will need to build a credit history yourself. You can do this by getting credit cards from gas stations or from stores. There are gas stations, as there are supermarkets and department stores, which offer fidelity credit cards to their customers. Once you become the owner of such a card, make sure to balance it wisely and after a couple of months you can re-apply for a bank-issued credit card.
Actually, the most useful tips for those who get their first credit cards now are not those about how to actually obtain the card but about how to use it. Some happy card holders hit the shops as soon as they have the little plastic card and spend much more than they can pay back. The banks will never like that and there are no exceptions or grace periods only because you are new.
All late payments count as bad credit and if you make such reckless spending, you are in danger of having your credit ceased as soon as it was approved. You will also be considered a “bad” client if you lose your credit card or if you forget credit card information often. Avoid carelessness when you deal with money and note down all the information regarding your card and the transactions you have made with it.
Another good advice that all new card holders should follow is about owning only one credit card in the beginning. This is a good idea because it helps you get familiarized with the banking world, the card system and it is also a test to see if you can balance money. After one year or so, of good credit history you may apply for a second credit card; however, if you’ve had payment problems it is wise to stick to that one single card until you can correctly manage card-money.
It is always difficult for new-comers to break through in the baking world, yet with patience and a bit of wits you can become the owner of a new credit card. The difficult and tricky part begins when you start balancing it. Keeping records of card information, of the transactions made with it, remembering never to overspend or delay payments and generally having a careful and wise banking-attitude will make you a good client and a satisfied customer at the same time.
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