First credit cards can refer to three different things. Firstly, it can refer to the first credit card a person obtains in their life. Secondly it can refer to the first time credit cards were invented in history. Thirdly it can refer to credit cards issued by companies with “first” in their name.

Obtaining your first credit card can be a challenge because most issuing companies require a good credit history in order to get one. The challenge can be handled by first obtaining cards such as store cards and gas cards, which are much easier to obtain without a prior credit history. Then even a few months later, after making repayments reliably on the store or gas cards, applying for your first credit card should be easy enough. Some issuing companies do occasionally offer cards to those without a credit history, so it can pay to ask around.

These cards which issued credit for use in a particular store were common from the beginning of the twentieth century, but until 1950 there was no card that could be used in a range of different stores. The legend is that the head of a major credit corporation went to dinner and forgot his wallet. He was so embarrassed at having to call his wife to bring his wallet to him that he invented the credit card so no-one would need to have to carry cash around for significant purchases.

A very wide variety of companies offer credit cards. They are usually banks or credit unions, and some of them have the word “first” in their name. When choosing a card, a number of factors should be taken into consideration. Many credit companies charge zero interest initially, but the period they do this for can vary, and the interest charged after this period also varies.

Some initial 0% interest credit can apply to balance transfers which can be used to either save money by transferring balances from other cards or loans to that card. Another use of no initial interest cards is to make money, by transferring the balance to a high interest bank account.

When getting your first credit cards, or subsequent cards, read and understand all the details of a range of available cards.

For more relevant information see our Blog Post First Credit Cards

For more relevant information see our Blog Credit Card Information

(sources include http://www.wikipedia.org)

About the Author

Thomas Goldman is an experienced artist musician and knowledgable in a variety of subjects. He loves travelling.