Share Your First Credit Card Story!

Hi all,

I still remember getting my first credit card back in 2000. It was a Standard Chartered card, and I had just landed my first job. The excitement of having a credit card was immense, and I felt like I had finally stepped into adulthood.

In my excitement, I ended up spending my whole month's salary in just one day! Looking back, it was a mix of thrill and a learning experience about financial management.

What was your first credit card experience like? How did you feel when you got your first card, and what lessons did you learn along the way? I’d love to hear your stories and any tips you have for first-time cardholders!

I can totally relate to the excitement of getting a first credit card. I got my ICICI Credit Card back in 2012 when I graduated from college and landed my first job.

My first big purchase was a TV for my parents as a gift, which made it even more special.

It was definitely a learning experience for me as well. Using the card responsibly has taught me a lot about managing finances and making smart spending decisions over the years.

Normally, I just know how to deposit money in the banks each month; I don't know much about taking money out of the banks!

However, my first credit card taught me how to spend money and offered me an array of things I could / should buy!!

When I got my first credit card in my hand, I was so excited and felt like a queen who could own the entire world! The first thing that came to my mind was books! I ran to a book store and bought a few good books. The next thing on my wish list is buying comfortable Hush Puppies footwear for my mom and for me as well. I wanted to have the feeling of walking on a plush carpet of grass all the time.

Yes, the mind and feet were taken care of, now the heart's longings!!

I adore flowers. A few people sent me bouquets for my birthday and for other special occasions, but nobody ever sent me a large bouquet of pink and yellow roses! But, at that time, there were no big floral shops with credit card processors that enhanced customer service. I kept that desire deep in the layers of my heart for the time being!

I realised that there was less credit left on the card after all the purchases, so I reserved it for later use. I realised that I would have to wait until the next month to get the full amount to make new purchases!

Eventually, I understood that having a credit card validates your creditworthiness! I discovered that using a credit card has a number of advantages. Among the many other benefits, credit cards are useful for better financial health, higher credit scores, balance transfers, simple loan approval processes, emergency fund access, discounts on airline ticket purchases, etc. Overall, it was an exciting experience.

Friends, please share your first-time credit card usage experiences!

Thank you, Vijay and Mrinalini for sharing your first-hand experiences with us.

I don ve credit card

But I know only one thing . Those who doesnt know how to use it properly . Shouldn't own it . Those who know enjoy all benefits . Others fall in trap . That's all

Originally posted by: Sevenstreaks

I don ve credit card

But I know only one thing . Those who doesnt know how to use it properly . Shouldn't own it . Those who know enjoy all benefits . Others fall in trap . That's all

There are three simple rules when it comes to credit cards.

Pay your bills in time (in other words, don't spend more than what you can repay after the free credit period, which is usually around 50 days)

Don't take cash advances/withdraw money from your card.

Try and keep the spending to around 30-40% of the limit (if you use a high proportion, say 80-90% of limit, it can actually end up hurting your credit score)

Keep note of these three and most cards will be beneficial. With tap and pay, cc's are even better than UPI when it comes to certain low ticket transactions.

My experiences with credit card started when I joined a pharmaceutical MNC (in the US) after college & graduate school. I never used it that much but only for few meals that I've purchased from the cafeteria at that time. But I lost interest & started making my own food.

But like others mentioned, CCs have their pros & cons especially airline discounts, transfers, loans, etc.

Even though I do have CC but I don't use much because I prefer to use cash more. I only use under certain conditions.

I got my 1st credit card when i was around 18. I used to work part time at a supermarket, so my first purchase with credit card was groceries for home. The bank where i got my first credit card was at the same supermarket i worked at, so i got good deal as an employee
I never miss any payments and I always use credit card in limit.

My tip to all new credit card holders would be to set a limit on credit card purchases, and set up auto payment so you never miss any payment otherwise your credit score will affect.

Originally posted by: SoniRita

I got my 1st credit card when i was around 18. I used to work part time at a supermarket, so my first purchase with credit card was groceries for home. The bank where i got my first credit card was at the same supermarket i worked at, so i got good deal as an employee
I never miss any payments and I always use credit card in limit.

My tip to all new credit card holders would be to set a limit on credit card purchases, and set up auto payment so you never miss any payment otherwise your credit score will affect.

In India, it is now mandatory for credit card companies to provide customers the option to enable or disable certain types of transactions and also set their own limit for each category. This helps in better managing expenses and ensuring security. Your advice on setting a spending limit and setting up auto payments is spot on! Do US credit card companies also provide such facility?

Originally posted by: vijay

In India, it is now mandatory for credit card companies to provide customers with the option to enable or disable certain types of transactions and also set their own limits for each category. This helps in better managing expenses and ensuring security. Your advice on setting a spending limit and setting up auto payments is spot on! Do US credit card companies also provide such a facility?

Yes, you can go over our credit limit, but there’s no surefire way to know how much you can spend in excess of your limit. Card issuers may consider a variety of factors, such as your past payment history, when deciding the risk of approving an over-the-limit transaction.

Any approved transactions above your credit limit are subject to over-the-limit (or over-limit) fees. This credit card fee is typically up to $35, but it can’t be greater than the amount you spend over your limit. So if you spend $20 over your limit, the fee can’t exceed $20.

In USA and in Australia, it is almost a cashless transaction, all transactions will be paid through Credit cards/ add on cards. The credit card history is vital for opening a Bank account, buying a house, and renting a house, it's considered as our character certificate type!!!

I recently got credit card like 3 months back as i am not a spender but my major spend was hospital bills due to dengue i haven't brought anything after that.

I usually give my card to my dad so i Don't use credit card much other than when i buy something and if i feel i will get some cashbacks from it.