Are You Ready For a Credit Card?

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Are You Ready For a Credit Card?


Carl knows that credit cards are essential to his long-term financial growth. And that if he’s not quite ready for one, they can take a real toll on his credit.


So before he thinks about applying for that card, he should ask himself the following three questions to be sure he’s ready for the responsibility.

So before he thinks about applying for that card, he should ask himself the

following three questions to be sure he’s ready for the responsibility.

? ? ?


#1 Are you financially

responsible?


Carl thinks he’s responsible enough.

After all, he has a little money in his savings account, and he never buys the brand name products.

But financial responsibility goes further than that.


Carl should have a long-term plan in place, and always know where his money is going. This way, when he opens up that card, he’ll know exactly what he’s spending and won’t charge too much on his credit card.


#2 Why are you opening

the card?


Carl needs to ask himself what his motivations are, and why he needs the

additional credit.

Is it to build his credit so that one day he can get a

home loan?

Is it to show creditors that he’s capable of paying a balance

every month so that he can get that new car he’s been wanting?


Is it just going to be for emergencies

like car repairs and medical bills?

Or is it because he wants to go out and

have fun and spend more money?


If you understand your motivations for why you’re opening the card in the first place, there’s a lesser risk of charging it up and going too far into debt.


#3 Did you research which

card to open?


Carl gets plenty of credit card offers in the mail,

but which one should he apply for?

The honest answer is

that any offer that is sent to you unsolicited is

most likely going to have a high APR and low

benefits.

Carl should go to CreditCardXPO.com and research the cards before he

makes a decision.



Taking the first card that comes along, applying for the first offer, will lead you to

opening an account with a creditor

who doesn’t have your best interests in mind.


Because Carl has been financially responsible so far in his life, he’s earned good credit. This enables him to pick and choose which card he wants, so he can select the one that’s best for his life and needs.


Now Carl can start researching to find the card that’s right for him - and that’s good news.

But no matter how good his APR is, and how

responsible his motivations, he always has to be careful, remain financially responsible, and pay his balance every month.

That way, he’s taking steps on the path toward long-term financial security.


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Whether you have good credit, bad credit, or no credit at all, you

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today!


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Are You Ready For a Credit Card?

Economy & Finance

Transcript of Are You Ready For a Credit Card?