Getting your first credit card is exciting because all that requirements and hard work of getting yourself approved finally paid off. Shopping spree is just a few more steps away however, you must understand that having a credit card is a huge responsibility. Before you make that purchase or even put that card in your wallet, there are some things you should do first with your new credit card. 

Activate Your Credit Card

Whether it came by email or you went to get it, you have to activate your credit card first. Usually, there is a sticker on the front with instructions for activating the card. Typically, you will have to enter your credit card number (or the last four digits of your account number), the last four digit of your social security number, billing zip code, and maybe your telephone number. You can even activate your credit card by going to the card issuer’s website.

Understand the Terms and Conditions

It’s not like the terms and conditions on the internet where you can skip reading the long terms and just press “I agree to the terms and conditions”. You have to understand that having a credit card is a huge responsibility, so reading the terms and conditions can do good for you. With new credit cards though, there is a single piece of paper with the most important pricing details which include the fees, interest rates, and other pricing features provided by the credit card issuer for the first time users.  

Know Your Credit Limits and Manage it

Having a credit card doesn’t mean you have unlimited cash that you can borrow. There is a credit limit – which is the maximum amount you can charge on your credit card without incurring a fee. This also entitles you to have a cash advance, but there is a limit that is less than the limit you can charge on your credit card.  

If you want to build your credit history, learn to manage the limit itself. You have to stay on top of your spending by tracking your spending. That way, you will not go over your limit and avoid credit debt.

Create Your Online Account

With your new card ready to go, this is a great opportunity to make sure it is configured correctly. By creating your online account, you can easily access your credit card account online. Whether you want to check your balance, make payments, or monitor your activity, this helps you conveniently track your spending. Your credit card issuer may even have an app that makes it easier to access your account anytime you need it.

Remember to Pay in Full

Remembering to pay your credits in full will not boost your credit score, but it will spare you from having to pay any interests which can be high for first-time users. But if you have a hard time remembering to pay your bills, you may be able to set up an autopay for your new credit card. With automatic payments, you can set up a payment amount and date. That way, you can make regular payments every month.

Find the best deals of a credit card with GoBear today and get a credit card that best suits your financial capacity. Make smart decisions by comparing credit cards with GoBear today!