I would either pink the edges or zigzag/serge the first seam. I have a pinking blade and did not like using it. To me it was not a true pinking cut--more like a curvey cut. But I bought that blade probably 10 years ago. They may have changed since then. I think you could get a relatively inexpensive pair of pinking shears at Joann's or Walmart.
I would definitely not use fray check because it could make the seam hard to the touch.