Top Tips for Choosing Your First Credit CardJoshAugust 29, 20170 viewsHome Finance0 Comments0 views 0 If you are thinking about taking out a credit card for the first time, then there are several things that are good to consider before you fill out your application. Whether you are a young person or student who’s taking advantage of your first opportunity to get a credit card, or you’ve simply never needed or wanted one in the past, applying for your first credit card can be a daunting process, especially with so much choice out there. We’ve put together some top tips to help you make the right choice for your first credit card. Tip #1. Understand Your Interest: When you apply for a credit card, it’s important to know exactly how much credit that you are going to have available, along with how much interest you’ll be paying, and the minimum amount that you’ll need to pay each month to keep your credit card repayments up to date. When browsing credit cards, it’s a good idea to shortlist those with the smallest Annual Percentage Rate (APR), since the lower this is, the less interest you will have to pay on the amount that you borrow. Even better, try and find a card that gives you an interest free period. These usually last for the first few months after taking out the card and give you the opportunity to spend without paying anything extra when you make repayments. Tip #2. Pick a Sensible Credit Limit: In general, lenders tend to decide how much to give you when it comes to a limit on your credit card. However, in some cases, you may be able to specify how much you’d like to borrow on the card. When it comes to picking your limit, you can also see an idea of how much you’re likely to get when you are browsing potential cards. Since it is your first credit card, it’s a good idea to pick a sensible, small credit limit that you can easily manage. Don’t forget that after a few months of repayments and staying within your credit limit, you can always ask your lender to increase it – most are happy to do so once you have proven yourself to be a responsible borrower. Tip #3. Do Your Research: When it comes to picking a credit card, there are so many different options to choose from that you might end up feeling just a little overwhelmed. When it comes to finding the best credit card offers, it’s important to do as much research as you can beforehand to weigh up all your options and ensure that you don’t end up missing out on a better deal. Comparison sites are one of the best resources to use when looking for the perfect first credit card – you’ll be able to enter all your details to find a suitable card for you. Some sites will even allow you to fill in your details and check your eligibility for a card, without having to deal with the added hassle of a credit check. Did these tips help? We’d love to hear from you in the comments.