![]() Now that you’ll be carrying a credit card, you need to pay attention to security measures. ![]() How to help keep your new credit card more secure Plus, earn unlimited 1 percent cash back on all other purchases - automatically. The Discover it® Card, for example, allows you to earn 5 percent cash back on everyday purchases at different places each quarter like 1, grocery stores, restaurants, gas stations and when you pay using PayPal 2, up to the quarterly maximum when you activate. Since you’re spending the money anyway, there is absolutely no reason not to get something back. Rewards or cash back credit cards, like those from Discover, provide a small rebate for every purchase you make. How to profit from your first credit card Check with your cardmember agreement for more details. In addition, you may not be liable for unauthorized purchases on your account. The list of credit card member benefits varies from card to card. Enjoy credit card protection for the first time Impulse buying is an absolute no-no when it comes to plastic. Your credit card is a fantastic tool, and it can help you and make your life easier, but it can hurt you, too. ![]() But ask yourself - would you buy it if you didn’t have a credit card in your wallet? If the answer is no, avoid the impulse buy. That’s fine most shoppers have been there. You’re in a store, and you see something you really want. First-time credit card owners should watch for overspending Credit card issuers usually apply a cash advance transaction fee that can be 3 percent or more and finance charges are usually higher than your regular purchase APR. Unlike with purchases, you likely don’t have a grace period when it comes to a cash advance, so interest starts accruing the moment it posts to your account. In some cases, a credit card cash advance may be your ticket out of a tight spot, but never use cash advances casually. ![]() Don’t use your new credit card as a source of cash All you need to do is to pay your credit card statement balance on time and in full every month. Many credit card customers have at least a 21-day grace period before the issuer will impose finance charges on purchases. You can buy everything on credit cards and never pay interest on purchases or any kind of fee, depending on the terms of your credit card account. One of the most persistent credit card myths is that using a credit card means racking up credit card debt, but this isn’t true. You don’t have to carry a credit card balance Here are some tips for first-time credit card holders: 1. The key to happy card membership is to know what you’re doing from the start, from managing your payments to keeping your card secure. Congratulations on your first credit card! You just entered a new world of convenience, opportunity and, yes, manageable risk. ![]()
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