Where to Apply for Your First Credit Card

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Apply for your first credit card by visiting a local bank and asking for a secured credit card. After paying a secured credit card on time for a set period of time, the bank will offer you an unsecured credit card. Find out why it is important to only use credit cards sparingly with information from the owner of a debt settlement company in this free video on credit cards.

Part of the Video Series: Credit Card Debt Information
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Video Transcript

Hi, my name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. Where to Apply for Your First Credit Card? Before you apply for your first credit card, you need to know that you really want to be careful with a credit card. Only spend what you have. Don't spend money that you don't have. But in case you want to build a credit. And we live in such a society where you do actually have to acquire some debt in order to have a credit score, or to have a credit rating. For that, you can go to your local bank and ask them, do they have a secured credit card? If they do, that means you're going to pay about five hundred to maybe a thousand dollars, and you're going to get a secured credit card for a year. If you keep your timing, and you pay it on time, they're probably going to give you the money back. Probably, they will give you back the money after one year. And then what happens from that moment on, it becomes an unsecured credit card. They probably, likely, going to raise your limit at the same time. But this is when trouble can start. What you really want to do, is want to use your credit responsibly. You don't want to spend money that you don't have. Try to use your debit card for most of your purchases, so you make sure that you do spend the money that you actually have. Don't just spend your credit card like crazy, because that's going to get you into trouble. Seventy five percent of Americans are three paychecks away from bankruptcy. Sixty percent of marriages fail because of financial difficulties. So please make sure that you do spend your money wisely. My name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. Thank you for watching.

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