Credit cards are an important tool in building your financial future. But remember, applying is the easy part. Using credit wisely is much more difficult.
How Credit Cards Work
A credit card is like a small loan, but you don’t put up collateral to get it. You can use it as many times as you like, up to the total dollar limit allowed. Every month, you must make a minimum payment, but carrying a balance month to month will cost you in interest. If you fail to live up to your obligations, credit cards can ruin your credit history.
Although you can walk into your local bank branch and apply for a credit card there, most of us will fill out an application online. This is not something to do from a public Wi-Fi connection or cell phone, because you’ll be entering personal financial information that a thief could use, destroying your budding credit. Apply only over a secure internet connection.
To apply, you’ll need to provide your Social Security Number, date of birth, address, phone number, bank account details and employment information. Always tell