Right Age to begin using Credit Card

Credit card

When one starts to earn, he/she could be in varying financial positions. And if one talks about the financial knowledge one has at the beginning of one’s career, then it is usually so less. It is either that they save or invest due to the pressure of their parents. It is never their own interest or knowledge that they are interested to invest. But in any case they have to learn to invest and make their dreams come to reality. But they are so keen to use their credit card. So what is the right age to start using a credit card?

This question could be answered as anytime one wishes for buying things he/she could begin to use credit card. But technically there are certain factors which matter while beginning to use credit card. These are as:

  1. Your level of maturity: the basic fact for any payment option is your level of maturity. One needs to understand the fact that it is someday one will have to pay. So it is upon one’s level of maturity that will decide the right age of using a credit card.
  2. Frequency of the Income: usually there is only few amount kept in the bank and people try to demand to have a credit card. But the regularity of the income will matter to decide your age of credit card. It is so as when you get a credit card, the payment will happen from your account. It needs to have sufficient balance amount. So to maintain the balance between the income and expenditure one must start using credit card only when the incoming amount is certain and regular.
  3. Behaviour of the person: this may sound childlike but is a very important consideration before trying to get a credit card. If the attitude and behaviour of the person trying to get a credit card is too much on the negative side, irresponsible and irrational one, the person must avoid getting a credit card.
  4. Shopping pattern: there are few people who spent relentlessly and there are others who spend carefully even a penny. There are also people who spend hugely at one go. So considering the shopping patterns, except the third one, anybody could own a credit card with the first two shopping patterns.
  5. Vision, patience and the knack of spending: few people shop it without acknowledging their income levels. Then there are people who lack the vision while shopping. And lastly there are impatient shoppers who want things when they see it. Amongst all such attitudes, the ones who have the vision while shopping, spend the right amount and have the patience to spend after the date of debit should own a credit card.

Credit card could be a very useful tool to change the way of your spending. It gets you few benefits like the reward points. It is basically earning few points according to the transaction amount. When they reach a certain level they could be converted in to cash following a certain logic. So when you fulfil the above criteria and you begin to earn on a regular payscale the time is right to use a valuable tool for spending your money-credit card.


Anum Yoon is the founder and editor of Current on Currency. She loves all things personal finance, which is why you'll find her work all over the PF blogosphere.