BEGINNER’S LUCK – 8 Things That Happen to You After You Get Your First Credit Card
There is a first time for everything so they say. But for the yuppie professional across the globe, owning your first credit card brings a whole lot of wonder. You are now considered part of the mainstream working class with the spending power. As first timer, the predisposition to immediately use your credit card is very strong. Your likely option is to take advantage of the credit card promotions in Malaysia which probably is one of the reasons why you applied for the plastic in the first place.
Owning your first credit card is serious stuff. While it is stimulating, with the sudden increased capacity to purchase, it comes with serious responsibilities too. Your plastic is a tempting companion wherever you may be. People around you use credit cards for small to large purchases, from the necessities to the most luxurious items. The power to spend is in your hands.
However, some things happen to you when you are ready to use and swipe that plastic card of yours.
8 Things That Happen to You After You Get Your First Credit Card
- You feel a sense of pride and acceptance.
- But you need to educate yourself about the proper use of credit cards.
- Your status has been elevated several notches higher.
- You were granted a privilege not wealth.
- You now belong to the mainstream consuming public.
- But be a responsible consumer when you think of spending.
- You have the means to purchase items you only dream about.
- Your purchasing power should equate to your earning capacity.
- You are tempted to buy things that come your way.
- Learn to distinguish need from impulse buying.
- Your tendency is to finish off your credit limit
- Whatever you purchase with your plastic is not free, you pay it back.
- You do not care about the repayments and surcharges yet.
- Don’t get carried away. You will pay more when you default in payments
- You feel the urge to get a second credit card
- Build your credit standing first. A second credit card means spending beyond your means. It will only lead you to financial misery. You are also bound to lose your first credit card privileges.
Again it has to be emphasized that owning a credit card is serious stuff. Remove the notion from your head that it is a status symbol. It is no longer that way. Just about everyone owns a plastic. Remember that having a good credit reputation is for the long run. You build it up with the prudent use of your first credit card.