Tuesday, October 23, 2007

First Credit Card !!!

First Credit Card ?!!!

Just got my first cc ever trying to build my credit since i have none.But iam in need of some advice how exactly does this work?

Tips/advicewhat is the cash advance limit?Lets say I used $250 when it came time to pay the bill what amount will i be paying if i pay on time?Just a lil confused dont wanna screw anything up heres the ino on the card i got-

Capital One® No Hassle Cash(SM) Rewards - Limited Credit OK • 25% annual bonus on the cash you earn during the year
• 1% cash back on all purchases*
• No limit on cash back and rewards won't expire for the life of your account
• 0% APR on purchases until February 2008. After that, variable APR, currently 16.4%
• $29 annual fee
• For people with limited credit history or credit that needs some improvement

The Answer : not use a credit card for a cash advance, interest is to high.Use it for every day things be careful never to exceed 30% of your credit limit in any given month and pay in full before the due date.Understand that the due date is the date that your payment must be posted to your account, not the date that it must be mailed by.

So, if your payment is due the 15th mail no later then the 5th to allow for our mail service and processing on their end.

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