3 Important Questions Before You Apply For Your First Credit Card

Always ask yourself – what is the purpose of having a credit card?

The thought of owning a credit card is often cool as it allows you to spend money that you don’t have yet. What’s better than that?

But before you get your hands on one of these cool plastics, it’s important to ask yourself these few questions, particularly if you don’t want to end up being in debt for the rest of your life!

Why do you need one?

Always ask yourself what is the purpose of having a credit card. “Because it’s cool” and “I can buy anything I want” are never good reasons to apply for one. Only get one if it really benefits you.

Are you aware of the charges that you may incur?

People always think they will pay their bills on time. Never assume that! What if you miss a payment? How much extra in fees will you end up paying?

Which is why it is important to always compare interest rates, penalty charges, annual fees and other charges for different cards. Most of these information are available online (or you can refer to our credit card comparison table)

How well do you manage your personal finances?

Are you disciplined enough to keep track of your spending? Are you the type of people who pay bills on time? Can you cut back on your spending if you need to?

If your answer is ‘no’ to any of the above questions, then perhaps getting a credit card isn’t a good idea. Having one requires you to manage your finances well.


To learn more about how to manage your card usage, check out our tips on managing your credit card usage.

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