New Credit Card? Take These 6 Steps to Set It Up

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A new credit card could help you earn more rewards on your everyday spending. Keep reading to learn what to do if a new card just landed in your mailbox. 

If you’re a credit card fan, there’s likely no better feeling than getting approved for a sweet new card and having it finally arrive in the mail. I recently added a new travel rewards card to my wallet, and I took the following steps to get it all set up. I recommend doing the same if you just got a brand-new credit card.

1. Set up your online account

First things first! I recommend setting up an account on the card issuer’s website. This will make managing your account (including checking your balance, making payments, and redeeming any rewards you earn on the card) extremely easy. If this isn’t your first card with that issuer, you likely already have an account and should see your new card linked to it when you sign in after being approved and having the card issued.

2. Confirm that you received the card and activate it

When you actually receive the physical card in the mail, you’ll need to confirm with the issuer that you got it and also activate it so it’s ready for use. This could involve calling the issuer or confirming on its website that the card has arrived.

If you know you have a new card on the way, I recommend checking your mail promptly to make sure the card doesn’t sit in your mailbox. This is particularly crucial if you have an unlocked mailbox that anyone outside your home can access. In fact, you may want to opt in for paperless communications from your credit card company to avoid the risk of having mail with your financial information on it stolen from your mailbox.

3. Download the mobile app

No one will twist your arm to download your credit card company’s mobile app, but this is yet another convenient way to manage your account, pay your bill, and access special deals for your card. And best of all, you can access card information from anywhere. I you lose your card and notice it while you’re away from home, you can even report it right in the app.

4. Pay your annual fee, if you have one

If your shiny new credit card is the kind with an annual fee, you’ll likely be charged for it pretty quickly after receiving the card. I’m the kind of person who prefers to pay a bill as soon as it arrives rather than waiting, so when I got my new travel rewards credit card recently, I paid the annual fee as soon as I saw it charged to the account.

5. Add the card to your mobile wallet

If you like using a mobile wallet on your smartphone, such as Google Pay or Apple Pay, now is the time to add that card to it. This is very easy to do, and then you’ll be able to use your credit card via a contactless payment process even if you don’t physically have it with you. Be careful if you’re prone to overspending, as this ease of use could make it more likely that you’ll spend more than you intend to. What’s more, if you have a smart watch, such as an Apple Watch, you can even use your credit card from it!

6. Start using your new card!

You’ve acknowledged receipt of the card, set up your online account, gotten the mobile app, and paid your annual fee (if you have one) — the only thing left is to start using the card. In the case of my new travel card, I immediately made it my new go-to credit card (with a few exceptions, as I have other cards that pay a high rate of cash back on certain purchases).

If you’re hoping to spend enough to qualify for a welcome bonus, it’s a good idea to get started using the card sooner rather than later. Note that it’s best to pay off your card balance in full every month, however, so you can avoid having to pay costly interest charges.

If you’re careful about monitoring your spending and paying off your balance every month, credit cards can be a great way to earn cash back and rewards on your spending while keeping your financial information safer than a debit card can. If you’re eagerly awaiting the arrival of a new card, keep these steps in mind to get the most out of it right from the start.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Alphabet and Apple. The Motley Fool has a disclosure policy.

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