What credit card is best for someone who's never had one?

Question

I'm lookin though some stuff on credit cards... seeing that I need one. I have some money saved up, I'm 18 and I've never had a credit card before.. so this whole thing is kinda new to me.
Just thought I should post the question while doin' a little research on my own. And see if anyone had any advice on what kind of card I should get and whatnot.

Answer 1

The criteria for choosing a credit card seem to be-

No annual fee (a few have)
Visa not Mastercard (in my opinion!)
Interest rate (although if you are sure to pay off the balance in full every month, the interest rate does not matter)
Number of days credit - there is a cutoff date for when purchases will be included on the next bill, this is different from one card to another.
Affinity - some cards give a percentage of their commission to your chosen charity
Points - you can earn airmiles on some

You might like to consider when you want the bill, possibly just after you pay cheque each month. Mine is on the 11th.

It really is best to pay the balance every month, annual interest can be 25% in some cases! The bill tries to draw you into paying the minimum.

Don't use a credit card to get cash, it costs a lot.
Don't use credit card "cheques", ditto.
Never pay the bill late. It cost me $35.

But, as hinted in other answers, it is a good way to build up a credit rating, which might be good when you apply for some jobs.

Answer 2

Discover Card because they give you cash back that you can accumulate and buy items they offer or better yet, put it against your account to help keep it paid off.

What ever you do with any credit is to pay it off as soon as it comes each month. You will get a good credit rating and you will not have to pay any interest on your credit card.

Also Discover card is great on watching for illegal use of your card. They call me if they think that a transaction might not be mine while it is actually being used!

Answer 3

ANZ Qantas Frequent Flyer

Answer 4

Try this website to compare over 100 credit card http://www.bestcreditrates.net

Answer 5

Visa and master are about the same. Do not get American express unless you know you are going to be able to pay off your entire purchase each month , because the entire purchase is due monthly. Visa and Master charge interest monthly, so, use those cards only when you have to . Pay them off at month end if you can to avoid paying interest, but you do not have to pay the entire balance at month end, but, you do with American Express.

Answer 6

They're all pretty much the same. Shop for the one with the lowest interest rate.

Here's something they don't tell you up front about credit cards - they are very expensive to use! Be very careful with it.

Answer 7

Either through your bank, of most capitol one cards have really good apr's. Just DONT get the universal mastercard ( boy that was a huuuuge mistake). and read all fine print!

Answer 8

My first credit card was thru my bank. They had a 'student' credit card. there was an awesome percentage rate, and it built my credit...before I ruined it! Be careful.

Answer 9

Try not to get one, they are a nightmare when they get out of control.
Stay away from Discover. They are nice to you until something happens and you are late with one bill, then they turn into satan.

Answer 10

i suggest staying away from them but if you really feel you need one discover is the best one for beginners. they cater to students and young people and you won't get a large credit line to start out with....most likely