Credit Cards – How to Apply For One

Credit Cards – How to Apply For One

Credit cards are a fundamental necessity in this day and age, but not many people are aware of how to about applying for one.

This is compounded with the vast amount of promotional offers and credit card deals available, from airmiles, to points to use for grocery shopping or to get money off gas, and many available to apply online, the enormous choice can be overwhleming for a new customer deciding on which credit card to go for.

However there are some key steps to apply when selecting a credit card, don’t try to apply for several cards at once. Credit companies regularly monitor your credit file, and any credit card applicaton or indeed any loan or any financial service that requires a loan such a mortgage is noted on your credit file. Many of the banks and credit card offering firms have notices in place to flag a credit file if something sounds suspicious, especially online, such as if someone is applying for various credit cards, loans, or mortgages within a short period. The usual time span for a credit card application that will not raise red flags on your credit fle, is an application every six months to a year.

Ensure that the credit card you are applying has a promotional period, usually credit cards with promotional peirods, have one lasting from a year to fifteen months, for example you might get 0% APR (Annual Percentage Rate) on purchases for that period, some people have been able to take advantage of these promotional periods by simply applying for another card when the promotional period ends, and transferring the balance or some of the balance from the old card to the new (usually there is a balance transfer fee involved, but it also comes with its own promotional offer).

Credit cards vary in term sof the rates they offer, but all universally chaege a lot more for cash withdrawals than for purachases, and it is highly recommended not to use a credit card for cash withdrawals due to this high interest charge.

Credit cards do provide the convenience of not having to carry cash on your person, and we can all identify with the shopper who turns up at the till, but cannot find that last piece of change to pay for their purchase.

Credit cards can also prove extremely useful in areas where there isn’t a cash machine for miles, as you can request cashback, albeit this is deemed a cash transaction and is charged accordingly, this can prove useful in certain scenarios, for example in an emergency.

Visit Debt consolidation for some great consumer credit counseling services, and dealing with credit card debts in general.

Leave a Reply