11 Things to Know Before Getting Your First Credit Card
Understanding the basics of obtaining and using a credit card wisely can save you time, money, and frustration while helping to build good credit. Getting your first credit card is a major milestone and requires some adjustment.
You may have a general idea of how credit cards work and how to manage one responsibly, but the details matter. Learning those details beforehand will save you money and speed up your credit-building journey.
NerdWallet's Guide to Your First Credit Card
- Guide homepage
- 11 things to know before getting your first credit card
- Am I ready for my first credit card?
- How to qualify for your first credit card
- 7 options for your first credit card
- How to use your first credit card
- What is a Schumer box and how do you read it?
What to Expect as a New Credit User
As a beginner, you likely won’t qualify for the top-tier credit cards with lucrative rewards, generous sign-up bonuses, or long 0% interest offers. These premium cards require good or excellent credit scores (690+) and a lengthy credit history, along with certain income qualifications.
Most first-time applicants start with cards designed for those with little or no credit history. Fortunately, many of these cards still provide reasonable rewards and have no annual fees.
"Those cream-of-the-crop products are available only to applicants with good or excellent credit (scores of 690+) and longer credit histories who meet certain income requirements."
Starting smaller is a smart step toward building credit effectively and responsibly.
Author's summary: Getting your first credit card is a key financial step that requires understanding the basics, realistic expectations, and choosing the right starter card to build credit safely.