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Tips For First-Time Credit Card Users Congratulations on your first credit card! You just entered a new world of convenience, opportunity and, yes, manageable risk. The key to happy card membership is to know what you’re doing from the start, from managing your payments to keeping your card secure. Here are some tips for first-time credit card holders: 1. You Don’t Have to Carry a Credit Card Balance One of the most persistent credit card myths is that using a credit card means racking up credit card debt, but this isn’t true. You can buy everything on credit cards and never pay interest on purchases or any kind of fee, depending on the terms of your credit card account. 2. Don’t Use Your New Credit Card as a Source of Cash In some cases, a credit card cash advance may be your ticket out of a tight spot, but never use cash advances casually. Unlike with purchases, you likely don’t have a grace period when it comes to a cash advance, so interest starts accruing the moment it posts to your account. 3. First-time Credit Card Owners Should Watch for Overspending You’re in a store, and you see something you really want. That’s fine; most shoppers have been there. But ask yourself — would you buy it if you didn’t have a credit card in your wallet? If the answer is no, avoid the impulse buy. 4. Enjoy Credit Card Protection for the First Time The list of credit card member benefits varies from card to card. In addition, you may not be liable for unauthorized purchases on your account. Check with your cardmember agreement for more details. 5. How to Profit From Your First Credit Card Rewards or cash back credit cards, like those from Discover, provide a small rebate for every purchase you make. Since you’re spending the money anyway, there is absolutely no reason not to get something back. And this cash back can add up over time. 6. How to Help keep your New Credit Card More Secure Now that you’ll be carrying a credit card, you need to pay attention to security measures. Don’t worry; it’s mostly common sense. Don’t give your credit card number or any details of your credit card, including the expiration date or security code, out to others. Only use this information when making a purchase. Avoid making credit card purchases on public computers or public WiFi unless you’re using secure connection services. Paying your credit card bills or making an online purchase at the coffee shop? Not an ideal spot. 7. Use Your New Credit Card Regularly Having a credit card for the first time means that you’re not in the habit of making purchases with a credit card. While it’s good to keep your debt low, you’ll want to make sure you use your credit card often enough that your card issuer doesn’t cancel your account for lack of activity. 8. Credit Card Beginners Should Take Steps to Build a Good Credit History