Choosing your first credit is as much a rite of passage as it is a consumer choice. Don’t have misgivings about it, on your first attempt you will mistakes, you will choose the wrong option, you will miss payments, you will get into a little trouble but you will go through the entire experience to become a better consumer, which is a better thing than becoming a better person in this day and age.

But before you take the plunge, there are some considerations to be made. You must have a steady source of income, it can be anything from a job to a trust fund but it must exist. Otherwise you’ll be in trouble before you can even enjoy all the benefits of plastic money. Secondly, you must have some discipline when it comes to shopping. Shopaholics and credit cards are usually a bad match, but shopaholics with their first credit card are a disaster waiting to happen.

Eventually, after you’ve built a good enough credit history you can have the shop till you drop card deals. But until that day you’ve got display responsibility and resist temptation.

Thirdly, look closely at and understand all the figures and numbers on your credit card of choice. There might be some terms (like APR) that confuse you. Don’t worry, you can find explanations of each and every term and abbreviation on the internet. APR, for instance, is the annual percentage rate or in simpler terms, the interest rate you’re going to be paying on your loans.

Every time you make a transaction with your credit card, it is considered taking a loan you have to pay for later. The APR percentage points are what’s going to be charged as fees on every transaction.

Look at the all the APRs and annual fees carefully and evaluate what you’d be comfortable paying. If you miss payments these things tend to add up exponentially and increase the debt that you owe to unmanageable degrees. Credit card bankruptcy is a very real and serious issue, so be careful.

Once you’ve chosen a card and actually gotten your grubby hands on it, there are still some cautions worth keeping in mind. Don’t lend your card to anyone, even your own mother. Don’t leave your card receipts lying around, even in front of your own mother. Don’t write your card number anywhere unless you’re absolutely sure that no one else has access to it.

Never give your card number over the telephone until you are certain of the repute of the person or organization on the other line. Keep your credit card expiration date and payments dates in mind, or write them down and keep them somewhere safe. Immediately contact your card issuer if you suspect that you’re being had or a payment has been made on your card that you didn’t authorize.

Remember, a credit card offers great consumer power, but with great consumer power must come great consumer responsibility.