First Credit Card Bill? 5 Checks to Master Your Finances & Avoid Hidden Costs

• Understand your billing cycle, bill generation, and payment due dates to manage interest-free credit and avoid late fees.
• Scrutinize every transaction, big or small, to verify charges and dispute any unauthorized entries promptly.
• Always pay the "total amount due" by the due date; paying only the "minimum due" triggers immediate interest charges.
• Review all potential interest rates (APR) and fees like joining, annual, GST, and cash withdrawal charges to understand credit costs.
• Monitor your credit utilization; keeping it low helps maintain a healthy credit score and lender perception.

Why It Matters: Your first credit card bill is a vital guide to responsible credit management and avoiding expensive debt.