If you can not tell yourself no, do not get a credit card. The reason for this is if you have no impulse control, then you would just max out your card in a matter of days, and have little or nothing to show for it. As for payback, estimate a minimum of 3% to pay back (minimum $25). This means if you racked up a $1,000 bill – then expect to pay $30/month until that 3% rate drops below $25, then pay $25 per month. It is easy to let a credit card get out of control. This is definitely something to not take lightly. If you choose that a credit card is in your best interest – do not go for Credit One (as opposed to Capital One). This card is designed to attract people with poor credit, and then make their life miserable with fees on top of fees. You are better off to get a secured card.
What I Do
I have credit cards (more than 1). I use one card exclusively for my bills, and the other one(s) for my discretionary spending. Every 2 weeks, I pay my cards off. If for some reason I had a transaction that my income couldn’t support, I will be able to use the credit card to address such a purchase. I will then pay the card off as quickly as possible which means I will have a razor thin discretionary spending until the card is paid off. My cards are more than 20% APR which in my opinion is too much.