I want a credit card. Yes, I just said that! I’ve been on the hunt for one, and I’ve even applied for some, but I’ve gotten denied. I have no credit (I’m 19, my car loan isn’t in my name, and I have no other credit cards), so it is hard for me to find a card to get approved for.
Now, why do I want a credit card? And why would I want one when just the other day I gave my sister my debit card so that I would spend less? The answer is easy, I WANT CREDIT. I have no credit at all, and I know in order to get certain things in life, then credit makes things more easy. I’m already working on being more healthy, and I want to increase my financial knowledge and become more money savvy as well.
Yes, yes, most people say that you should just save up cash and pay for everything with cash, but I do think that you can use credit and loans to your own advantage (such as with low interest rates!). Also, credit is important for when you want an apartment, to buy a house, insurance, some jobs check your credit score, and so on. There are many positives of having a good credit score, so why wouldn’t I want to work towards having awesome credit?
Luckily, I do have my sister to teach me the ins and outs of having a credit card and how to use credit cards responsibly. She’s great at it and has never carried a balance, and purely uses it for the rewards. I know that I most likely won’t be able to qualify for a rewards credit card, but I hope to eventually be able to have one!
There are many credit card options out there, credit cards that gives rewards, a low interest rate credit card, high interest rate credit cards, credits cards with and without membership fees, and so on.
There are so many options out there (I do not want any annual fees that are associated with the credit card that I choose) and I just need to start looking! I want something simple, and even if my credit card limit is only $300, I am fine with that. I just want to start working towards awesome credit NOW!
What was your first credit card? What are your tips for responsible credit card use?