Why I Finally Got a Credit Card
The first time someone mentioned a credit card to me they told me not to get one. At the time I didn’t have a job or any income of my own. I was an incoming college freshman and all of my money was saved from events like my birthday or Christmas. It was obvious I was going to need a checking account, but I was quickly advised to not get a credit card.
Most of the adults I knew warned me about the impact of being irresponsible with a credit card, from my parents to my college professors. They all made it seem like it was impossible for someone my age to use a credit card responsibly, many times because they themselves hadn’t been able to at the time. It’s an accepted society stereotype that college freshmen have no control. This is because for a majority of us it’s the first time we ever have any control over our lives. This potentially leads to behaviors like drinking too much, drugs, spending, and more. And while I did see a lot of this behavior, I’ve always been more reserved and cautious, even outside of the parental gaze.
I got my first credit card two years after I graduated college. At the end of 2019, I decided to be more proactive about my financial life. One of my goals for 20202 was “Get a credit card”. I wrote this down, but at the time I wasn’t sure why I wanted one or how it would impact my credit score. But, I did know I needed to learn more about my financial situation and how to change it in order to benefit my own life.
When I decided to get a credit card, I began researching my different options. Ultimately, I chose the company Capital One. Prior to getting my credit card, I created a Credit Wise account (a Capital One Company), which allowed me to check my credit score. Capital One felt like the natural choice and the application process was very easy.
Within the last couple of months, my overall experience with my Capital One credit card has been great. Capital One has always been transparent and its software is accurate. My credit score dipped a couple of points after I applied for the credit score, but after that, it increased. I’ve been able to see small incremental increases in my credit score since then.
But, even I questioned my impulse control. I thought “Will I be able to only spend what I can afford?”. Right now, the answer is yes. I regularly purchase products with my credit card and they’re all within my budget. I typically pay off my credit balance every week. I know I have the money, so I go ahead and pay it. This approach has reduced my anxiety and apprehension about having a credit card. I basically treat it like a debit card.
If you’re interested in getting a credit card, I would definitely recommend choosing Capital One. With their company, I feel like I get a lot of useful information about my credit card and my credit score. It’s also easier for me to trust them because I’ve primarily seen positive reviews from their customers.
I’m not sure if there are any key ways to know you’re ready to have a credit card. I feel like I’ve kept my credit card spending low because my main goal is to use this card to help me. I know I could spend more money, however, that wouldn’t be good for me long-term. And despite the pandemic, I haven’t had the need to use my credit card for financial emergencies.
Overall, I’m happy with my decision to get a credit card and choosing Capital One. It’s given me the ability to have more control over my financial life and work towards my goals.
