6. Corinne has just gotten her first job and wants to apply for her first credit card. Based on what you have learned in this unit, what advice can you give Corinne? Your response should include the following information:
-What Corinne should do before applying for the credit card
-Which elements of the credit card agreement Corinne should focus on once her application is accepted
-What Corinne should do in order to best manage her credit
-The potential downsides of having a credit card

Credit cards gives one a line of credit that can be used to make purchases, balance transfers and cash advances and requiring that you pay back the loan amount in the future.

The things that she should focus on include:

Practice responsible spending.

Choose a credit card payment plan.

There should be an emergency fund.

The thing that Corinne should do in order to best manage her credit include building a budget and paying the credit card bills at the appropriate time.

The potential downsides of having a credit card are:

Paying high rates of interest.

Credit damage.

Credit card fraud.

Cash advance fees and rates.

Annual fees.

Credit card surcharges.

Other fees can quickly add up.

Overspending.

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