If you are looking at getting a credit card, experts say to focus on your credit limit.

If you are looking at getting a credit card, experts say to focus on your credit limit.

RICHMOND, Va. (WWBT) - If you’re under 21 you can’t get a credit card unless you have a job or can show a way to repay balances. Or you need an adult to co-sign for you. Experts say its the credit limit you should focus on. That’s the maximum amount you can borrow.

A financial coach with the Virginia Credit Union, Cherry Dale says if you are getting your first credit card, make sure it has a very low credit limit.

“I’m talking $250 to $500. That way you’re not going to get yourself into too much trouble and it’s a good way just to start using your credit card and understanding that you’ve got this monthly bill and you’re going to pay it off each and every month,” Dale said.

With credit limits, you do want to make sure you’re managing what we call the utilization ratio.

Meaning-- you can borrow $1,000 on your credit card but you don’t really want to borrow over $300. 30% of your credit limit is about as much as you want to put on a card.

Again, the best thing would be to pay it off each month right away.

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