Are You Ready For a Credit Card? [Slideshare]

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Credit cards are essential to your long-term financial growth, but if you’re not ready for one, they can take a real toll on your credit. Before you apply for a card, you should ask yourself the following questions to ensure you’re ready for the responsibility that comes from accepting credit from lenders.

Are you financially responsible?

This doesn’t just mean that you save a little money and watch your expenses, but that you can predict what your behavior will be like once you receive your card. Credit card debt is notoriously difficult to climb out of, and ensuring you’re getting a card for the right reason will help ward off excess debt.

Why are you opening the card?

You should know exactly why you’re opening the card, and you should be doing it for a financially safe reason. Don’t open a card because you need more money to spend, only do it if you’re trying to build a future by increasing your credit score and amount of credit.

Did you research which card to open?

Don’t just take the first offer that comes to you in the mail. If you’re going to open a line of credit, do it safely. Ensure you’re getting the best card for your situation and needs, and avoid high interest rates. Pre-approved offers on your doorstep are good for only one thing—getting yourself in debt. Do your research first.

For more information, take a look at our slideshare below, and then visit our blog where we offer more tips and insider information helpful for getting you on the road to long-term financial health

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Please note your financial situation is unique and our tips & advice presented here may not be appropriate for your situation. recommends that you seek different advice & opinions from your own accountant or financial adviser who understands your individual circumstances before making any important decisions or implementing any financial strategy.