We hear it all the time: “I don’t want to get into credit debt, so I haven’t signed up for a credit card.” We can’t stress enough how inaccurate this statement is. If you are truly so irresponsible that you’re worried about racking up large amounts of credit debt with a credit card, then sure, by all means, avoid them. However, most adults should be able to spend responsibly.
Use Credit Like Debit
If you took a class in Credit Tips 101, you’d learn on the first day that everyone can benefit from having a good credit score. Whether you want to buy a home or need an emergency loan later on in life, having a good credit score can make things easier for you. However, you don’t simply get a good credit score by being responsible with you money. You have to apply for a line of credit, receive the line, use it, and pay it back on time.
The easiest way to get going in this process is by applying for a first-time user credit card. When you use your new credit card like a debit card, you’ll develop a good credit score and stay out of credit debt.
We think this is one of the most important credit tips we can share with you. Starting this process early in your life can make things a lot easier later on down the road. However, it is essential that you treat the credit card like a debit card! Make your payments on time, every time, and you’ll be on your way to establishing a terrific credit score that can work for you in the future!