All you need to know about credit cards. Bryan Pietsch is my name and I am a senior at ASU, where I study journalism and business. Outside of class I am a Delta Sigma Pi business fraternity and enjoy skiing and travelling. I have a second hobby to help me afford these hobbies: strategically using credit cards in order to earn valuable rewards.
Through my credit cards, I have amassed significant amounts of cash back, travel money, and airline miles. These rewards have allowed me to travel across the country multiple times, receive free hotel stays, and even pay some of my monthly bills. You can also earn rewards if you manage your money in a strategic and responsible way. Here are some ways to get started. Before you spend, learn more about tjmaxx credit card interest.
What is a credit card and why should you get one?
Most likely, you have a debit or credit card from your bank. These cards won’t give you points and won’t improve your credit score. (Learn more about both these topics below).
Because a debit card takes money directly from your checking account, it does not impact your credit score. If you have a cardholder on another account, your credit will be affected, but not yours.
What is a credit score?
A credit score is simply a number that determines how likely you will be to repay your debts. But there are many other factors. Let’s begin by saying that it is important and something you should be aware of.
Credit score can be affected by a number of factors, including how long you have had credit cards and loans, how much you use credit, how often you apply for credit cards, and how frequently you have your credit checked (e.g. if you are applying for a loan or getting a background check or applying for an apartment). ).
How can I get my first credit card?
If you don’t have a card yet, your credit score is likely to be low (unless you have any loans). Because your bank has a history with your credit, they can view your accounts, and you can track how much money is being deposited. It’s often easier to get your first credit card through them. Banks understand that credit is essential for starting somewhere.
Search your bank’s website to find the right credit card for you. You can also call or come visit them. Or search online for the best college credit cards. Don’t just read a few positive reviews. Do your homework and evaluate your needs before applying. .
How can I get the most out of my spending?
You now have your credit card. Use it to save money. This is easiest if you start using your credit card and pay your monthly bill in full. You will receive rewards in the form of points or miles based on how much money you spend. Many cards allow you to convert points into cash back which I find the best way to claim these rewards. You can channel the cash to your credit card balance if your card allows.
Be responsible. A credit card should be used to spend money that you would normally spend and not to make big purchases that you cannot afford. This can help you save a lot of money, but misuse of your card can cause you to have a big problem.
Be aware of interest and fees. As an introductory offer, many new credit cards don’t charge an annual fee. This means that as long you don’t pay any interest (by paying your total monthly balance each month), there won’t be any additional fees for using the card. However, be aware of when the offer will end.
It was very helpful. But how can I find out more?
You can find many additional resources to help you learn about credit scores and credit card reviews. It can be very rewarding to spend some time researching.