A guide to getting your first credit card

This video tutorial explains how individuals with no or bad credit can start building their credit history. It targets young people, students, recent immigrants, and those from families avoiding credit cards. The video discusses becoming an authorized user, obtaining student credit cards, and using secured credit cards. It emphasizes the importance of making full payments to avoid high interest rates and the potential pitfalls of accruing debt at a young age.

Who is most likely to need a credit card to start building credit history?

• People with high credit scores

• Young individuals or recent immigrants

• People with multiple credit cards

• Individuals with a mortgage

What is a potential risk of becoming an authorized user on someone else's account?

• You will not be able to use the card

• Their poor credit habits could affect your credit

• You will have to share your credit score with them

• You will have to pay their debts

At what age can you apply for your own student credit card?

• 17

• 16

• 21

• 18

What is a secured credit card?

• A card that offers travel rewards

• A card with low interest rates

• A card that requires cash as collateral

• A card with no spending limit

Why is it important to pay off your credit card balance every month?

• To increase your credit limit

• To qualify for a mortgage

• To avoid paying high interest rates

• To receive more rewards