Credit | Financial Aid Office | SIU

Now that you are out on your own, you may decide that it is time to get your first credit card. Before you start applying for credit cards, keep in mind the following:

Tip Number 1: Find the right card for you

Each credit card has different advantages and disadvantages. Do some research before applying for a card. Look for one with no annual fees and reasonable interest rates. 

Tip Number 2: Create a monthly limit for yourself

You know your spending habits better than anyone else. Be honest with yourself and set a monthly limit so that you do not start spending more than what you can payback. This leads to tip number three...

Tip Number 3: Be Prepared for Your Monthly Payments

Part of the responsiblity of having a credit card is making payments on your card each month. Your goal should always be to pay your entire credit card balance off each month in order to avoid accuring interest. 

When you decide to get that first credit card - make sure you are using it wisely.