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How To Choose Your Credit Card Application
The articles and tips provided on this site are intended to
help you access credit card offers that suit your lifestyle. By
providing you with some basic information, we are confident that
you will be able to easily identify which are the best credit
cards for you. There are literally thousands of offers online
which make deciding on what cards apply to your needs very
challenging.
The best place to start when shopping around for credit cards
is knowing your credit score - you are now entitled to a free
credit report annually - order your 3-in-1 report to have a
complete picture of how a credit card bank might view you. How
your credit report looks will determine which credit cards you
quality for.
Excellent Credit Reports Qualify For:
If you are among the elite few who have managed your credit
cards and other loans responsibly the bank will reward you with
added perks such as airline points cards or low interest credit
cards. There are many card offers that will reward your good
financial habits with low or no annual fees, some great reward
points as well as introductory rates of 0% APR with ongoing low
interest rates. Typically the interest free period is 6 months
but in some cases will be awarded to you for a full year. Since
your credit is in excellent standing the interest free period
might not be of concern to you as you are probably the type that
pays your credit card balance in full every month. If this is the
case you should make your credit card comparisons based upon the
rewards and extra perks offered by the bank - if you are paying
your balance in full a 0% APR is really of no value to you.
Good Credit Reports Qualify For:
The good credit range is where the majority of people are with
their personal finances. You will still qualify for a card offer
that provides some great perks such as airline or gas rewards.
You may also qualify for credit applications that have an
attractive introductory rate, with some credit cards you may get
a 0% APR for a few months however the ongoing rate will be a bit
higher than what you could get with an excellent credit
rating.
Before you select which credit card applications to review for
yourself you, need to be honest with your spending and bill
payment habits in order to make the best choice. If you know that
you are likely to carry a rotating credit card balance, you
should select your card based upon the ongoing APR. Having a low
interest credit card is much more important than seeking a
rewards program as the interest charges will likely offset the
rewards. Another cost you need to take into account is the annual
fee. Several banks will try to lure you into applying for a card
that offers rewards and lower rates but they will charge a hefty
annual fee.
Poor/Fair Credit Reports Qualify For:
If your credit is in bad shape, I recommend staying away from
credit cards completely. It is likely that you need to learn how
to manage your spending first and come up with strategies to get
yourself back on track. The last thing your personal financial
future needs is another credit card.
If you do legitimately need a Visa or MasterCard I highly
recommend only prepaid credit cards. Why? Again, get your
finances and money management in order otherwise you may end up
in a worse situation than you already are in.
Another thing you should do is order a free credit report
online to review the items reported by the bureaus. One way to
get your credit report for free is to ask a company that has
denied you credit to see the report they are using. It is your
right to see this information. There is a chance that they could
be viewing inaccurate information. Keep in mind that there are 3
credit reporting agencies (Experian, Equifax, and TransUnion) and
the information may vary from bureau to bureau for a number of
reasons including human error.
Colin McDougall is the editor of http://www.only-the-best-credit-cards-online.com
- A website dedicated to helping consumers choose credit card
applications online
MORE RESOURCES:
MORE COLLEGE CREDITChicago Sun-Times, United States - 10 hours agoDespite the current nationwide credit crunch, the State of Illinois secured $100 million for the student loans by tapping a new source -- credit unions. ... |
Ask, and you might receive a lower credit-card rateSeattle Times, United States - 12 minutes agoPick up the phone, look at the latest credit-card offers and keep repeating this: The bank needs me more than I need it. By Susan Tompor Pick up the phone, ... |
Boston Globe |
US travelers face credit snafuBoston Globe, United States - 10 minutes agoBy Eric Lucas All I wanted to do was buy gas, so I put my credit card in the automatic card-reader and got ready to fill the tank. ... |
Credit - Google News
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How To Choose Your
Credit Card Application
The articles and tips provided on this site are intended to
help you access credit card offers that suit your
lifestyle. By providing you with some basic information, we
are confident that you will be able to easily identify
which are the best credit cards for you.
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