In this growing world, using a credit card is not known as an achieveme1nt but it is necessary to be cautious in it as much as people have told lightly about it and especially at the time when you have this question in your mind that how to choose a credit card for the first time.
If you have acheived your first job and you have joined the list of people who consider themselves settled, then you must have heard from somewhere about the credit card (which is made from a piece of plastic). And you might have been told about its many offers but by moving carefully and moving towards it, we should show our intelligence and then think about selecting it.
So in this blog post we are going to talk about this issue that if you want to know about choose a credit card for the first time, then this post will prove to be a great guidance for you.
how to choose a credit card for the first time?
There are a lot of things to keep in mind when you think of choosing a credit card for the first time. Everyone’s method may be different, but my guide here will be to tell you about 4 such important points that whenever you choose a credit card for the first time, you should keep all these things in mind.
#1. Understand Your Spending Habits
A survey was conducted by Experian in 2023, in which it was found that 35 percent of the respondents talked about the factor of rewards and benefits from credit cards. And the 28% low interest rate is also mentioned and the discounts like 20% travel insurance and purchase protection are much appreciated figures. So this status helps you a lot when you intend to select a better credit card for yourself for the first time.
When you intend to choose a credit card for the first time in India, it is very important for you to first pay attention to your spending habits.
Do you fall in the list of people who mostly crave for frequent travels and outings or like a savvy shopper who looks for discounts and cashback offers or just looks for a better way before spending anything? Which can happen through installments which will have a great impact on your lifestyle.
So when you find yourself among such people then going towards credit card can prove to be much better for you.
#2. Consider Your Credit Score
When you get a credit card for the first time, the credit card score is a numerical representation of your creditworthiness. You may like many things in it and may not like many things.
But don’t worry, you should understand that the credit score of a credit card is only a measure of how responsibly you handle the money borrowed by you.
Simply put, this score looks like a blank canvas waiting to be painted with your financial decisions. If we elaborate further, we can say that the average FICO credit score in the United States was 710 while for beginners or this number has seen fluctuations.
