Advertisement

First-Time Credit Card? 6 Smart Tips to Maximise Its Benefits

Advertisement

Getting your first credit card is an exciting step toward financial independence. Beyond convenience, it gives you the chance to build your credit history, which is crucial for future loans, mortgages, and other borrowing. Using your card responsibly from the start can set you up for long-term financial success. Here are six essential tips for first-time credit card users.

1. Keep Your Spending Under Control Avoid spending more than you can comfortably repay. Experts recommend using no more than 30% of your credit limit at a time to maintain a healthy credit score. Stick to planned purchases, hunt for the best deals, and ensure you can pay off your balance promptly.

2. Always Pay on Time Late payments can trigger fees, higher interest rates, and a negative impact on your credit score. Setting up automatic payments through your bank’s app helps you avoid missed payments and maintain a positive credit record.

3. Pay Your Full Balance Whenever Possible Paying the full balance each month prevents debt accumulation and saves you from paying unnecessary interest. If paying in full isn’t possible, aim to pay more than the minimum due to reduce your balance faster.

4. Monitor Your Transactions Keep track of your credit card activity through your bank’s online portal or mobile app. Set alerts for payment due dates, approaching limits, or unusual charges. Immediate action in case of a lost card or suspected fraud can protect your finances.

5. Regularly Review Your Credit Report Check your credit report at least once a year from the major bureaus—Equifax, Experian, and TransUnion. You’re entitled to a free report annually. Look for errors like duplicate accounts or incorrect balances, and dispute any inaccuracies to safeguard your credit score.

6. Know Your Credit Score Your credit score reflects your reliability in repaying debts. Many banks provide free access to your score. First-time credit card users may consider a secured card to establish their credit history safely and effectively.

By following these tips, you can use your first credit card wisely, avoid unnecessary debt, and build a solid financial foundation for the future.

look ad Watch AD Unlock More

Advertisement

Latest News
Want Safe Dividend Income in 2026 and Beyond? Invest in the Following 5 Ultra-High-Yield Stocks
Want Safe Dividend Income in 2026 and Beyond? Invest in the Following 5 Ultra-High-Yield Stocks
These companies provide sustainable income streams to their investors.High-yielding dividend stocks often face skepticism. While a robust dividend yield can signal a greater risk of a future payout cut, this isn't always true. Several higher-yielding dividend stocks deliver consistent, reliable income to investors.Here are five high-quality companies with ultra-high-yielding payouts to buy for safe dividend income in 2026 and beyond.1. Clearway EnergyClearway Energy (CWEN 1.21%) (CWEN.A 1.14%) o
Finance
Gold Prices Soar in UAE: Residents Reap Rewards from One-Year Surge
Gold Prices Soar in UAE: Residents Reap Rewards from One-Year Surge
Gold has proven to be a golden investment for UAE residents, as prices have skyrocketed by nearly Dh100 per gram in the past year. Many buyers now say their jewellery purchases in 2024 turned out to be among the smartest financial decisions they’ve made.In the summer of 2024, 22K gold was priced between Dh279 and Dh290 per gram. Fast forward to this week, and the price has crossed the Dh380 mark, reflecting a significant increase that’s captured the attention of both investors and everyday buyer
Finance
Need emergency cash? Know your options when you need money fast
Need emergency cash? Know your options when you need money fast
Life in the UAE, like anywhere else, can bring unexpected financial emergencies—be it sudden medical expenses, urgent car repairs, or even temporary job loss. Without an emergency fund, such situations can leave you feeling overwhelmed. The good news is there are several smart ways to access emergency cash, each with its own advantages and risks. Choosing the right option can help you manage the crisis without harming your long-term financial stability.Start by reviewing your current financial s
Finance
How UAE Residents Can Use ChatGPT to Save Money on Travel, Shopping, and Daily Expenses
How UAE Residents Can Use ChatGPT to Save Money on Travel, Shopping, and Daily Expenses
With artificial intelligence rapidly expanding, tools like ChatGPT are becoming indispensable for both professional and personal use. With over 400 million weekly active users, this AI chatbot is proving to be a powerful resource, and one of its standout applications is helping people save money in practical ways. Here’s how UAE residents can leverage ChatGPT for smarter spending.Finding Cheap FlightsOne of the most popular ways to save is by booking cheaper flights. ChatGPT can search multiple
Finance
Crypto Prices Today: Bitcoin Dips to $112,000, Ethereum Trades Around $4,700
Crypto Prices Today: Bitcoin Dips to $112,000, Ethereum Trades Around $4,700
Cryptocurrency markets see modest decline as Bitcoin and Ethereum trade on Monday. At the time of writing, the total crypto market cap saw a marginal decline of 2.59 per cent to $3.88 trillion, while the 24-hour trading volume increased by 58.20 per cent to $134.52 billion.Ethereum ETH was the most trending cryptocurrency. Its price was down by 1.50 per cent to $4,712.10 million, and its 24-hour trading volume was $28.76 billion. Elsewhere VeChain VET was the top gainer. It was up by 4.39 per ce
Finance
4 Smart Ways Side Hustles Can Boost Your Retirement Savings in the UAE
4 Smart Ways Side Hustles Can Boost Your Retirement Savings in the UAE
At some point, many of us take a hard look at our savings and wonder if we are truly on track for retirement. For me, that wake-up call came in my early thirties when I realized I had only a few thousand dollars saved. Instead of panicking, I turned to side hustles as a way to speed up my savings. Within just two years, I was able to grow my retirement fund by more than $100,000 by combining freelance income with my regular salary. Here are four strategies that helped me — and can work for anyon
Finance
Can ILOE help you pay off your loan after job loss?
Can ILOE help you pay off your loan after job loss?
Losing your job can bring serious financial stress — especially if you have outstanding loans. Many UAE residents wonder whether banks can use their gratuity or unemployment insurance (ILOE) payments to settle debts. The answer isn’t always straightforward, but understanding your rights can help you manage this period with greater confidence.
Finance
Escape High-Interest Debt Fast and Free Up Cash in Dubai
Escape High-Interest Debt Fast and Free Up Cash in Dubai
Struggling with high-interest debt? You’re not alone—and you don’t have to stay stuck. Whether it’s credit cards, personal loans, or surprise expenses, there is a way out. With the right strategy, you can break free from debt faster and take back control of your finances.Step 1: Build a Smart Plan and Stick to ItPaying off debt isn’t something you can do on autopilot. The key is to create a clear repayment plan and stay consistent. Start by listing all your debts, their balances, and their inter
Finance
Comment
Comment