Things to know before you issue your first credit card

Credit cards changed the finance game forever. People are spending more to keep the economy going, but the best part is the affordability. Credit cards opened many doors for the buyers to keep buying important things on EMI, less down payment, and easily to the doorstep. Simultaneously, it is enabling business owners to create more revenue than ever.

About credit cards

But, are all these benefits actual, or are there some secrets that no one tells you from the industry? This article will talk about the essential things you need to know before getting your first credit card. So, please scroll below to get a brief description of it.


There are specific criteria to match before getting your first credit card. You have to have a good credit history or transaction history to avail of a credit card, and it is worth it. Usually, good credit holders who go above six hundred and ninety scores can enjoy many benefits like long-term payment, low-interest rates, and such.

Varieties of cards

Finance is evolving each day, and nowadays, there is something for everyone. If you are a student, you can go for the college cards that will enable you to get student loans or gratuity with significantly fewer interest rates and long-term payment options. If you are not very good at credits, you can go for prepaid cards to improve your credit score.

Other options.

If you do not like the options mentioned above, there are other varieties, like the secured credit card or the fair use card. If you want to know more about diverse credit cards and how they work, you may visit marqeta. This company has been around for over ten years in the market and playing revolutionary roles in diversifying the parts of a credit card.

About secured credit card

If you are a beginner or have an awful credit score, then this option is for you. Here you have to pay an amount as your security money, and then you can issue the credit card in your name, and if you spend well under the limits, then slowly, your credit score will rise. It will help you in future to gain better credit card options.

Other options

Some people confuse secured credit cards with prepaid card cards, but these two are not the same things. If you do not want to exceed your credit card limit or fall behind the payments, you can choose a prepaid card. Here you have to load the card at the beginning of a month and then spend it throughout the month. But, the secured card uses your down payment as your security money.

How to get a secured card?

It is effortless to apply for or get a security card. You need to pay about two to five hundred dollars in cash to get the security card, and then you can start shopping with it. Every transaction you make through the card will automatically improve your credit score, and the next time you can go for a better card with higher limits.

Things to check

You need to check some points very carefully before getting your first credit card, and the annual fee is on the top. An annual or maintenance cost is the essential factor to determine if a card is right for you or not. Also, you need to check the annual percentage rates. It will give you information about the increments you will get each year.

It is important to know about your fees and benefits before getting your card.

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