When you find that it is time to get your first credit card as a student, you may be unaware of how to use it at first.  At first, most college students think that it is free money, which is where the dangerous part comes in.  When you get a credit card, you want to make sure that you are very responsible with it.  If you’re a first time user of a credit card, you may want to read below to get some tips on how to use it.

Once it comes – Once you’ve applied for a credit card, you will see that it will come in the mail shortly.  Once it has been delivered to your house, you will want to activate your credit card, (there will be instruction on how to do so.)  When you’ve activated your credit card, you will want to make sure that you put all the papers that it came with in a safe spot.  They usually come with instructions and all the information you need about your credit card.  If you have a lot of papers that have your name on them, be sure to shred them immediately so that no one can get any of your information.

First Purchase – So, now you’re at the store and you’re about to make your first purchase.  You will simply swipe your credit card and sign your name.  Once the transaction has gone through, be sure you keep the receipt.  You will want to keep your receipt just in case you want to return the item in the future.  Also, you will want to keep the receipt so that you have a proof of purchase.  Lets say that you get your bill and the amount you paid at the store was $30.00 and the bill is for $32.45, this rarely happens but you just always want that proof of your purchase.  Once you have paid the bill, you may now get rid of the receipt.

Paying your bill – If you want to make it clear whether or not you have online bill pay or if you have bills that come through the mail.  If you have online bill pay you will simply go to the website and pay the bill through your checking account.  If you’ve signed up for in the mail, they will send you a bill through the mail and it will tell you the date that it has to be paid by.  You will then send a check or a money order.

Pay in full - When you make a purchase, always be sure that you never make a purchase for more than you’ll be able to pay back.  When you get a credit card there will be an interest rate.  For whatever amount that you don’t pay back you’ll be charged with the interest rate on top of what you owe.  So be sure that whenever you make a payment, you’ll have the same amount of money in the future, so you can pay it back in full.

Pay on time - Always keep in mind that you will have a bill coming in the future if you just put something on your credit card.  If you have bill pay online or you get a bill in the mail and you forget about it you will end up with a problem.  They will charge you more and you’ll end up spending even more than you paid at the store.  Do whatever you have to do to remind yourself that you have a bill to pay.

When you get your first credit card, it may seem a little foreign to you at first but you will get used to how it works shortly.  Just follow these steps and be careful of how much you spend, when you pay your bill and to make sure that you pay your bill in full.