Choosing Your First Credit Card- What to Consider

- Nov 25, 2018 Credit Cards, First Credit Card1 comment

Applying for your first credit card is a very exciting time in life. With so many credit cards around on the market, though, this task may be very daunting. Here in this post, I will point out some things to consider to help you be the smart consumer when choosing your first card.

Easy Approved

When you’re applying for your first credit card, you probably haven’t got much credit yet. Therefore, you may want to look for a card that is easy to get approved for. At this point, it’s not the time to look for these fancy travel cards which are typically tough to get approved for. Check out a list here of easy credit cards to get approved for. You may also want to check out the post: How to Get Approved for A First Credit Card.

No Annual Fee

Here, at Help Me Build Credit, I already stressed several times that the first three credit cards that you apply for should be credit cards that don’t have an annual fee. The reason for this is because, in order for you to build credit properly, you need to build a proper credit history. That being understood, it’s important that the first three credit cards you open should never be closed. That will give your credit strong legs to stand on. This will definitely help you in the long run to build proper credit. If you’ll make the mistake and apply for a first credit card which does have an annual fee, what will you do if in 5 years from now you don’t want to pay the annual fee anymore? Therefore, it is smart to just apply for a credit card with no annual fee (for your first three credit cards), so that you will never need to worry about keeping them open.  For more on this, read: How to Build Credit History Properly.

Choose The Right Banks

When applying for your first credit card, I recommend choosing a bank that you already have a relationship with. For example, if you have a checking or savings account in that bank. If you have a good relationship with a bank, the bank will be more likely to approve you for a first credit card.

Also, I recommend that the first three credit cards which you apply for should be split up between three different banks. The reason for this is, first of all, because, in the long run, it will be easier for you, in the future, to get approved for higher credit lines by these banks as you will have with them a longer relationship. Second, because it is so important for you that you never close these credit cards and that these credit cards should never get closed down. So it is beneficial not to keep all your eggs in one basket. Just in case this bank decides to close you down (if you ever have a bounced check, etc.), you won’t lose your first few credit cards.

I wish you a lot of success in building credit.

Was this article helpful?

Sam Sam has nearly a decade's worth of experience educating his many readers on everything credit. Sam spends his days checking out credit cards for a full report, from the minute benefit details to the shebang of welcome bonuses. Plus studying the ins and outs of building proper credit. It’s his favorite pastime and he loves sharing it with others.

Leave A Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.

1 Comment

  1. Thanks

Recent Posts

Follow us

Click here to subscribe to
our WhatsApp channel

Todays
best offers

Chase Ink Business Preferred

Earn 100,000 points after $15,000 spent within the first 3 months.

more info

Chase Sapphire Preferred

Earn 80,000 points after $4,000 spent within the first 3 months.

more info

United Business Card

Earn 75,000 points after $5,000 spent within the first 3 months.

more info

Capital One® Venture Rewards Credit Card

Earn a total of 100,000 points after a total of $20,000 spent within the first year.

more info

You May Also Like

Are Credit Cards Still Approving? October Update

Are Credit Cards Still Approving? October Update

When Covid hit we got daily requests from people wanting to know if credit cards are still approving. People also wanted to know which cards were worth applying for. We got so many requests that we decided to invest a few thousand dollars and built a credit card...

read more
The X1 Credit Card And Why I Probably Won’t Sign Up

The X1 Credit Card And Why I Probably Won’t Sign Up

  Do you not have the best credit score but you still want to be able to swipe and earn rewards on a charming credit card?  There's a new credit card being released this upcoming winter created by Thrive called the X1 card. The card is not available yet but you...

read more
How To Get Approved For A High Credit Card Limit

How To Get Approved For A High Credit Card Limit

Are you from the people who apply for a credit card and always just get approved for a silly $2,000 – $2,500 credit limit? That will not take you far. You want to be able to swipe like a king, especially when you want to apply for a 0% APR Credit Card and want to get...

read more

Download link sent
succesfully

Got it *please check your promotional inbox

Error sending download link

Try Again