Should You Get a Credit Card When Starting a Job?

The right time to get a Credit Card is always a much-debated topic. Some people will tell you never to get a Credit Card when you start working for the first time. Others will tell you that the start of your career is the correct time to get a Credit Card. Here’s why you should get your Credit Card right when you start working.

1. Spend now without waiting for the salary

Since you have just started your job, there might be a couple of things which are on your checklist. For instance, you might want to get gifts for everyone in the family. You don’t have to wait for your salary to arrive so that you can do all that. You can use your Credit Card to make the payments now.

2. Supporting your emergency needs

The thing about emergencies is that they arrive when you are least expecting them. Usually, the remuneration you get when you start is quite modest. Thus, it is not enough to meet any sudden financial emergency. In such a situation, you can use your Credit Card to make payments for the time being. Repay the money at a later date, since that way, you can get enough time to arrange for the funds.

3. Build credit history for future requirements

You might have plans to buy your own house or car in the future. Or, you might need Personal Loans to meet certain future expenses. In any case, you will need to have a good credit history to get easy approval on your loans. If you do not have any credit records in the market, the bank or financial institution has no reference point to gauge your reliability as a borrower. Therefore, paying Credit Card bills on time will help you build a good credit history.

4. Lucrative rewards to help you save money

Regardless of the Credit Card interest rate, you will be entitled to certain rewards every time you use your Credit Card. You will earn cashbacks and rewards with each purchase you make. For instance, ICICI Bank offers handpicked rewards wherein one can choose from a host of options.

5. An introduction to better money management

As you have started earning now, you need to develop a better understanding of the finer nuances of money management. And if you apply for a Credit Card, you will be able to gain enough knowledge about that. When you use your Credit Card, you get into a cycle of repayment. As much as you get the benefits of making payments faster using Credit Cards, you also need to arrange the necessary funds for the repayment. So, you start getting more careful about spending your money from the start.

6. Enjoying several international privileges

You can get complimentary lounge access at International airports, concierge services, access to International golf courses, Flier Miles and so on, using an ICICI Bank Credit Card. Realising those dreams of traveling to international destinations can finally come true.

So, if you are yet to apply for a Credit Card, go ahead and apply for an ICICI Bank Credit Card.