Fist time credit card user needs HELP--Bank Of America?

Pay it all. There will be no interest charge if you pay the full amount by the due date.

You can't save money by accruing interest.

Pay it in full every month, you will never pay interest and you will build good credit and a habit not to spend what you cannot afford.

You cannot "save for bigger things" by running up a credit card debt. Going into debt is the exact opposite of saving.

You should always pay the full amount each month. (A corollary is that you should never buy anything with a credit card unless you have the money to pay for it in full).

Credit card companies love it when you pay just the minimum due. It means that they get to keep charging you ridiculous levels of interest. It means (they hope) that you will continue to increase your balance every month, and owe them even more.

Whether you should retain a balance or not is largely based on your income, savings, and living conditions. Being your first card, I would say to pay it off every months. You won't be saving any money if you are paying interest.

Later on, as you get more established, and if you don't mind paying interest for a few months, then retain a balance... BUT, always pay more than the minimum! The ONLY reason for retaining a balance is if you lose your job and need to stretch out your money... OR if you are trying to build a credit history. Credit is built by paying off loans/credits... but it is also largely built on extended credit - the longer you pay something off the more credit you have, the more credit you build.

Pay it all. If you pay even one penny less, then you get charged a lot of interest.

If you don't pay it all off, you will owe interest. Never put more on the card than you would have spent in cash so that you always have the money to pay the bill. And, do not carry a balance on which you pay 18 to 20% interest just so you can save the money you owe. You'll be paying huge interest on the unpaid credit card balance while receiving next to nothing on your savings account, so those "savings" are costing you big time. Your money should be used in the following order: pay off debt (you can carry a mortgage, student loans and a car loan, but nothing else), save, then spend.