Should You Get a Credit Card on Landing Your First Job?

Very few things can match the joy of landing your first job. It’s common to go through a myriad of emotions after receiving that call or e-mail of a “Yes” from the HR Department. After all, you have worked hard for several years, and now it’s time when all your hard work is paying off.

However, amid all this excitement, you should not forget that you’re going to enter a new phase of your life. While it’s good that you will start earning money, equally important is to manage your earnings effectively. Preparing a monthly budget will help you streamline your expenses and maximize your savings.

You can also apply for a Credit Card and use it to make all your spending, from buying things online to ordering food and grocery. Credit Cards are convenient to use and can even help you save a lot of money. Continue reading to know the benefits of getting a Credit Card right after landing your first job:

Spend now, pay later

You’ve just got your first job, and you want to purchase something for everyone; your parents, siblings, friends, and relatives. However, you might have to wait till your salary gets credited to your bank account.

But, if you have a Credit Card, you can use it to buy the things now and pay the amount when you receive your salary. Isn’t it wonderful?

HDFC Bank Freedom Credit Card comes with an up to 50-days of interest-free period, during which you can pay the outstanding amount of the Credit Card without incurring any extra charges.

Streamline your expenses

Since you’re fairly new in managing expenses on a Credit Card can help you immensely. You can use your Credit Card to pay, utility bills, food, groceries, fuel, transportation, etc.

You will be able to see all your expenses in the monthly statement of your Credit Card and can plan your budget accordingly. You can also keep a check on your monthly spending and reduce unnecessary expenses.

Rewards help you save money

A Credit Card can not only help you streamline your expenses but also empower you to make some additional savings. Many Credit Card providers offer attractive discounts, deals & Cashbacks on travel, accommodation, dining, shopping and entertainment spends. You can also earn reward points with every spend done with your Credit Card and redeem them for additional savings.

Considering that you’re still in the early stage of your career, these additional savings could be really helpful

With HDFC Bank Freedom Credit Card, you can earn 10X CashPoints on spends at BigBasket, BookMyShow,OYO, Swiggy and Uber. You can also earn 5X CashPoints on EMI spends at merchant locations. & 1 CashPoint for every Rs.150 for all other spends (Excluding fuel, Wallet / Prepaid Card loads or Voucher Purchases)

Split large purchases into EMIs

Looking to purchase an electronic appliance or furniture for your house? You can use your Credit Card to make big-ticket purchases and split them into smaller repayments. Many Credit Card providers allow you to convert large spending into affordable Equated Monthly Instalments (EMIs). This way, you will be able to pay for your purchases in easy EMIs for a flexible tenure that you can choose from.

HDFC Bank Freedom Credit Card gives you an option to convert your big spending into smart EMIs. For more details, click here.

Build your credit score

A good credit score is essential to get loans in the future. Your first Credit Card will start your credit journey and can help you build your credit score for the future. All you need to do is spend wisely and pay your Credit Card bills on time.

If you maintain a good credit history, you can even ask your Credit Card provider to increase your credit limit after a few months.

A Credit Card can be an ideal financial tool for you to manage your expenses after landing your first job. You can apply for an HDFC Bank Freedom Credit Card and enjoy a host of features, such as CashPoints on every spends, , fuel surcharge waiver zero lost card liability and much more.

Looking for a Credit Card that provides you the most out of Reward Points? Click here to read more!

If you’re looking to apply for a Credit Card, you can click here. Pre-approved customers can apply for a Credit Card by clicking here.

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Credit Card approvals at the sole discretion of HDFC Bank limited. Credit Card approvals is subject to documentation and verification as per Banks requirement.