Things to know before taking a credit card ~ Ofuran

Things to know before taking a credit card

Things to know before taking a credit card

Before taking a credit card for the first time, there are a few things you need to know and keep in mind. For example, credit card rules, offers and credit limits. Here are 5 things that will make it easier to get your first credit card.
1. Good to know before
Before opening the card, you need to know how things work and what is going to happen next. Personal finance consultant Paco Dillion advised to understand the issue well before opening the card. "Remember that a credit card is an economic product and you're using it to become a consumer," he said.

As a result, know everything about the card by asking the organization you are taking before taking the card.

2. Try to repay
It's a pleasure to use a credit card. When sitting in any restaurant can be billed with a card. But be careful not to spend it that month you will not be able to pay it. Many people think that there will be no problem and you pay less than what you spend. But if you do not pay the whole balance, your monthly balance of interest will increase. Which may once have gone beyond capacity.

"Paying the minimum will not hurt you that much," said Dillion. But if this kind of pull continues, you will eventually get into serious trouble. ”

3. Get rewarded
People work hard for money. Wants to be rewarded for this as well. With credit card you can fulfill this desire. For the first time, you may not be familiar with this topic. But, on many credit cards, you can get things like cashback. Credit card companies offer cashback facility when buying products in different stores, super stores. Moreover, using a credit card, you will get the benefit of buying many products at a discounted amount.

The experience of using a first credit card can naturally lead to many shortcomings or complex unknowns. However, knowing the right steps will always allow you to stay financially comfortable and go to your favorite places.