Teenagers often cannot wait to get their hands on their first credit cards. After all, who would not want to have a card that can buy you almost the world? But if you are one of these teenagers, then take into consideration these things first before you apply for your own, or even bug our parents for one.
There are two things you have to remember. You will need to get a credit report [http://www.free-credit-reports.com] in order for you to have easier deals with your credit. The second and most important thing is the credit score. This is a three digit system that will say everything you will need to know about your account. The trick is, as your credit score is higher, then the healthier and better your account is. If your credit score is low, then it will show that you have had bad accounts and deals in the past.
The question is how will you be able to keep your credit score high and alive? Here are some things you need to think of.
First, do not abuse your credit cards. Most of the time, kids tend to burn out their credit accounts up to the limit. This might sound fun at the moment, but it will have negative and permanent effects in the future. Learn to control your shopping sprees and spending urges, because this will turn out to give you more spending chances in the end.
Another advice that you can follow which may be able to help you increase your credit score credit score is to charge only what you can pay. If you are a working student, paying your own bills, then you will know that it is very hard to pay bills. If you charge more than what you make or what you are able to pay, then it will be tougher on you if it will get accumulated.
If you have the means to pay for what you are buying in cash, then it is always best to pay for it in cash. Learn to consider the usage of your credit cards for emergency purposes only. This way, you will be able to develop the thinking that it is never the first choice to get in debt. While it is good to keep a clean record, it is still better to have no record at all. So never go over board with your expenses, learn to budget your money, and buy first all the necessary things you might need in your day to day living.
There are two things you have to remember. You will need to get a credit report [http://www.free-credit-reports.com] in order for you to have easier deals with your credit. The second and most important thing is the credit score. This is a three digit system that will say everything you will need to know about your account. The trick is, as your credit score is higher, then the healthier and better your account is. If your credit score is low, then it will show that you have had bad accounts and deals in the past.
The question is how will you be able to keep your credit score high and alive? Here are some things you need to think of.
First, do not abuse your credit cards. Most of the time, kids tend to burn out their credit accounts up to the limit. This might sound fun at the moment, but it will have negative and permanent effects in the future. Learn to control your shopping sprees and spending urges, because this will turn out to give you more spending chances in the end.
Another advice that you can follow which may be able to help you increase your credit score credit score is to charge only what you can pay. If you are a working student, paying your own bills, then you will know that it is very hard to pay bills. If you charge more than what you make or what you are able to pay, then it will be tougher on you if it will get accumulated.
If you have the means to pay for what you are buying in cash, then it is always best to pay for it in cash. Learn to consider the usage of your credit cards for emergency purposes only. This way, you will be able to develop the thinking that it is never the first choice to get in debt. While it is good to keep a clean record, it is still better to have no record at all. So never go over board with your expenses, learn to budget your money, and buy first all the necessary things you might need in your day to day living.