• Applying for a credit card is essential if you want to start gaining experience handling a line of credit. While applying for that first credit card may take a while, use it responsibly and getting higher credit limits will prove much easier.


    Before applying for a credit card, assess your personal demographic. Most people get a credit card early in life and start building up a credit history early. Applying for the first time at a more advanced age will limit your options.


    You can apply for any credit card you desire, but getting the lender to approve an application is the real hurdle.


    Credit card companies generally want to see two things: a good credit score/history and a source of income. A good credit score and high income boosts your chances for approval significantly.


    If you are a first-time credit card applicant, consider opening a bank account and then apply with that bank. Retail stores also offer their own credit cards, but these come with undesirable features, such as a high interest rate.

    Expert Insight

    After applying and receiving approval for credit, make sure you can pay back whatever you borrow. Late payments, or defaulting on your debt will ruin your chances when applying for future credit cards.

    Source:; First Time Credit Card Requirements; Tom Tessin;; Requirements for Credit Card Application; 2008

    Janet Bodnar; How to Get Your First Credit Card; Janet Bodnar; 2005


    The Federal Reserve Board; Choosing a Credit Card

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