When did you get a credit card?

I bet most of you understand the concept of a credit card and how it works. You swipe it at a store and there is no need for cash. But do you understand how to not get hit with interest rates? or how to build up your FICO score? I think it’s important that everyone understand when the best time to get a credit card and how to use it wisely especially teenagers who never got the chance to learn this.

The first major concept you have to understand with credit cards is to not buy anything you cannot pay for immediately. NEVER buy something that is $500 when you only have $150 dollars in your bank account. This is how you’ll get hit with those 16-20% interest rates and this is how people get into some serious credit card debt. It is important you know that paying a minimum payment every month while your balance keeps increasing will will lead to credit card debt.

The next think you need to grasp a hold of is getting a credit card early! I personally believe it is important to start building a credit right away, that’s why I got my first Discover Credit It Student Card when I was 18. I mean sure they only give you $500 limit, but if you pay your bills each month that will start to go up and so will your FICO Score. So you may still be wondering what this “FICO Score” may be and how it works so let me break it down for you.

There are 5 Important Factors that play into your FICO Score:

  • Amounts Owed (30%)
  • Payment History (35%)
  • Credit History (15%)
  • New Credit (10%)
  • Types of Credit (10%)


Image obtained from realestate.calebblock.net

And depending on all this factors you’ll eventually get a credit score between 300 and 850. What you want to strive for is that 850 or to at least be between that 720-850 range.


It is important to have a good built up credit so later in life you are able to get those good loans for a house or a car without heavy interest rates, other wise you won’t even have the chance to do so. I recommend that all parents or even young teenagers get a credit card and start building their credit up EARLY! It will definitely save you in the long run.

I personally recommend starting with the Discover It Student Card for those of you going off to college or parents looking into cards for teens. It’s a perfect card to get started with and earn Cashback on gas, online purchases and many more wonderful perks.


Image obtained from CreditCardMagz.com

Now some questions for you:

When did you get your first credit card?

How many credit cards do you have?

Which one offers you the best rewards?


I hope now you have a better understanding of credit cards and how important it is to start building a credit early. If you have any questions please feel free to email me at simpletechlifeblog@gmail.com.

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