How to acquire a credit card: A beginners guide

If you’re looking to get a credit card but aren’t sure where to start, don’t worry — you're not alone! Understanding how to acquire a credit card for the first time can feel a little overwhelming, especially if you're new to managing credit or don’t have much financial history. 

With the right approach and the right tools, you can navigate this process much more easily. Here, we’ll break down the basics of getting your first credit card and explain key terms in simple language.

What is a credit card?

First things first: let’s start with a simple explanation of what a credit card is. A credit card is a type of loan. Instead of using your own money when you buy something, you’re borrowing money from the bank to pay for it. This means you can use the card to buy things now, and then pay back the bank later. 

If you don’t pay the full amount when your credit card bill is due, then the bank will usually charge you extra on top of what you borrowed – also known as interest. This can mean you end up paying more than you borrowed, but if you use your card responsibly then it can be a helpful financial tool.

Why get a credit card?

Getting a credit card is a great way to establish a credit history, which in turn gives you a credit score. A good credit score can help you get loans, better interest rates, and even qualify for things like renting an apartment or buying a car. So, learning how to acquire a credit card and how to use it responsibly is an important step toward improving your financial future.

Steps to acquire a credit card

Here’s a simple, step-by-step guide on how to acquire your first credit card:

1. Check your credit score (or build one)

If you’re new to borrowing, you might not have a credit score yet. That’s totally normal. Your credit score is a number that helps lenders (the companies that give out loans or credit cards) understand how trustworthy you are with borrowing money. If you don’t have a credit score yet, you’ll need to start building one.

2. Look for credit cards for beginners

There are plenty of credit cards out there specifically designed for people with little or no credit history. These cards tend to have lower credit limits (the maximum amount you can borrow), but they’re perfect for someone who’s just starting to build their credit. You might see them called "starter cards" or "credit builder cards."

You can also look for secured credit cards. These require a deposit (usually a few hundred pounds) that serves as collateral, so the bank knows they’ll be paid back if you don’t pay your bill. They can be a good way to start building credit safely.

3. Understand the terms

Before you apply for a credit card, make sure you understand the basic terms:

• Credit limit: This is the maximum amount you can borrow on your card.

• Interest rate, or APR: APR – short for annual percentage rate – is the percentage you’ll pay as interest if you don’t pay off your balance in full. The higher the APR and the bigger the balance unpaid, the more you’ll have to pay in interest.

• Minimum payment: Lots of cards require a minimum payment to be made on your card each month. 

Once you’re comfortable with these terms, it’s recommended that you spend some time looking at a wide range of different credit cards in order to find one that is right for you. Don’t just rush in and start applying – make sure you’ve considered the full terms of the card you’re looking at. 

Remember, lots of credit card providers will conduct a credit check when you apply, which will show up on your future credit report. So it pays to take your time at this stage.

4. Apply for the credit card

Once you've chosen the right card for you, you’ll need to apply. The application will ask for basic personal information like your name, address, and income. The lender will also check your credit (or lack of it) to decide whether you qualify.

If you have no credit history or are worried about getting approved, look for credit cards that let you “pre-apply”. This is a way of assessing your likelihood of being accepted for the card, in a way that will not show up on your future credit history. You can also look at Curve as a great way to help you acquire a credit card in the future.

How Curve can help you acquire a credit card

If you don’t have a credit history yet and aren’t sure how to acquire a credit card, Curve could be the answer. Curve can act as a great introductory credit card if you have no credit history, via the Curve Flex credit line. 

With Curve Flex, you can apply for a credit line directly from the Curve app. Curve Flex has a high acceptance rate, making it ideal for those with no credit history who are looking to quickly and responsibly build a credit score. Once you're approved, you'll get access to a flexible credit line that allows you to make purchases and pay it off over time, just like a regular credit card.

By making small purchases using Curve Flex and paying them off on time, you’ll demonstrate good credit behavior. This will help you establish a credit history, which will make it easier to acquire a traditional credit card in the future.

Plus, using Curve Flex won’t require a hard credit check, which means it won’t hurt your credit score when you apply.

Tips for using your credit card responsibly

Once you get your credit card (or credit line) with Curve or another card, it’s important to use it responsibly. Here are some simple tips to help you manage your credit:

• Pay on time: Always try to pay your bill on time to avoid late fees and interest.

• Pay more than the minimum: If you can, pay more than the minimum payment each month to reduce the interest you pay over time.

• Keep your balance lLow: It’s best to use only a small portion of your credit limit to show you can manage your spending.

Acquiring a credit card

Learning how to acquire a credit card is an important step toward building your financial future. If you have no credit history, don’t worry — there are options like Curve Flex that can help you get started. By using Curve and making responsible purchases, you can quickly build your credit score, and eventually qualify for a traditional credit card. With time, you’ll have more financial freedom and a better credit score to help you achieve your goals.