A credit card can be a simple and convenient way to make purchases and a means for deferring payments. When you are beginning to build a credit score but have no credit history and are looking for a credit card, the first thing you have to look out for is the credit card that you can be approved for.
The cards you might look up for is Secured credit cards. Most likely they are approved, instead of just keeping it, you have to use the card and pay it in full from time to time to increase your score. This applies even to students who come as immigrants. If you are a worker, go for direct deposit from your employer. As and when you pay off the balance, your credit score would grow but wouldn’t grow too much so soon as one of the most important metric credit reporting agency looks for is credit age. Also, keep note that at any point in time not to use the entire amount on the card.
If you are a frequent traveler via flights, you may sign up for Travelcards.
If you are looking for Low APR cards, read the terms and conditions keenly. Inspect carefully for interest rates and penalty rates that may apply.
Business credit cards generally exist to isolate the business expenses from personal expenses. Companies may offer certified business credit cards for their employees at no extra cost. It might help the business owner to track their employees’ expenses on the card.
If you are applying for a new Balance Transfer card, look for the card with minimum interest and the longest duration available to pay off your debt. Opt for the cards which have 0% interest on balance transfer.
If you are looking for Cash Back credit cards, cash back rewards will be applied for the generous spending. This might include the purchases you make for gas, groceries, restaurants, etc. Choose for a card with 0% APR for at least 12 months when applying one.