Getting the first card can be a very trying task. A few years ago banks were willing to go any lengths to attract customers to sign up for their credit cards. Students were given freebies for signing up for these plastic cards. But, in a effort to gain a larger market share, banks forgot to consider the ability of the students to repay the money they spend on the card. This is one of the reasons that led to the downfall of the economy a couple of years ago. However, now things seem to have improved and banks as well as customers have learnt their mistakes. If you want to apply for your first credit card, here are a few things that can come in handy.
If you are a student, then you can easily apply for the student credit card. These cards are easier to avail as compared to the other unsecured credit cards. The terms and conditions on this card are also favorable and work in your favor if you use the card wisely. Though the credit limit offered may be on the lower side, you can benefit from good student rewards, low interest rates and more.
If you are not a student, then the best place for you to apply for your first credit card is from the bank where you have your checking account. If you have managed your finances well and do not have a lot of check returns or other flaws, you can get the credit card faster than you thought was possible. You can apply for cards from your current bank by either going online and looking for the credit card that suits you the best or by visiting the local branch directly.
If you are having troubles finding an unsecured credit card because you lack a credit history, you can opt for the secured credit card. These cards work like the unsecured cards, except for the fact that you will have to pay up a security deposit upfront. The amount offered as credit limit on your card will be equivalent to the amount you have paid as the deposit. Using these cards to generate a good credit history will help you get unsecured cards and other loans easily in future. Though, you can also apply for department cards, it is not highly recommended since these cards charge high interest rates and fees.