Are you currently in the hunt for your first credit card and you don’t know where to start?  Well, if you’re currently going to college, you already have an advantage over a 18 year old that isn’t going to school with a job.  Credit card companies love college students because it shows that you have responsibility and this is what the companies are looking for.  They may not give a card to a young adult not attending school because he or she may be a bigger threat.

When you apply for a credit card for the first time, there are a few things you have to consider before you start swiping it at your local mall.  Following these tips will not only help your credit score in the future, it will inform you more about credit cards on issues you may not know about.

It’s not free money – If you’re going to swipe your card as if it were free money, you should stop right there and not even apply for a credit card.  Credit cards should be treated just like cash and if you swipe like there’s no tomorrow, you’re going to be in for a surprise in the future when you can’t get a loan for a car or home.  If you find yourself in this situation, I highly advise you stay away from the cards.

Spend below your limits – This point ties in with the point mentioned above.  When you make a purchase anywhere, you should make sure that you’ll have the money to pay it off at the end of the month.  If you’re not going to have the money to pay off your bill, don’t make the purchase.  A credit card statement will come in the mail quicker than you think.

Pay on time – This is probably the most important tip you can absorb.  It’s so important that you pay your bill off on time in FULL.  The reason you’ll want to pay your bill off in full is because if you accomplish this task, you can avoid the interest rates.  Remember, if you pay a credit card off in full, you can literally get money lent to you for 30 days interest free.  Make your money work for you!

Watch your applications – When you’re applying for your first card, most people want to go out there and apply for thirty cards.  You’re going to want to avoid this because the more credit you have access to, the less likely you’re going to get approved for future loans.  My word of advice is to apply for one card at a time and wait for the response patiently.