How To Get A Credit Card? - 3 Tips And Guidelines
The number of credit cards issued each day continues to escalate
. Numerous people around the country seem to appreciate the increased convenience of doing online shopping and business. These cards are very important when one has to make payments involving large amounts of money. Credit cards are therefore, ideal for travelers, students, online merchants, homeowners, car buyers, individual shoppers, and so many other users. In the U.S, credit applications are not very complicated. If one wants to get a card, however, he or she must establish or reestablish a good credit history.
U.S. card issuers will surely investigate a customer's financial status. The three accredited consumer credit rating companies - TransUnion, Experian, and Equifax make this investigation almost effortless. Therefore, any aspiring customer looking to apply for a card must reflect on their credit score issue. Many first time applicants find themselves wondering how to get a credit card. Is any one feeling stuck on the same issue? The following tips and guidelines will hopefully help many interested applicants get started.
1.) International and U.S. based applications:
Every year many immigrants come to the USA for different reasons. Some come for further studies, tours and visits and job assignment reasons, and others win a lottery. How each of those immigrants plans to access funds from their foreign banks is always a difficult issue. The solution, though, is for them to get a card from a company such as American Express, prior to flying to the states. A foreign applicant who is confused on where to get a card can simply apply for it online. This will help him or her save money when in the states. For U.S. residents, applications are quick and simple, as one just needs to approach his or her bank or credit union and apply for one. Another method involves using the Internet to find various types that people prefer such as travel rewards, low interest, cash back, etc.
2.) What does the process entail?
Unlike many other financial procedures, this is a quick and simple task. Among the issues listed on the application forms include an applicant's personal information, such as names, income sources, place of employment, and duration of current job and so on. In many cases, card issuers will deny applications for people with terrible credit records or a very low annual salary.
3.) Can I get a credit card if my record is bad?
The simple answer is yes. All one has to do to solve such a problem is to search for cards meant for people with terrible credit. These are often two distinct types of cards.
* One is a prepaid credit card, which does not supply a cardholder with any credit line. He or she decides when to load the card and how to use the money. Though, cheap and reliable, it cannot help build or rebuild one's credit record.
* The other type is bad credit card. Once a person gets this type, they will receive a small limited money supply for spending. However, a cardholder must repay the money with interest charges, usually at a substantially higher interest rate than those with a good credit score. Since, the card issuer will keep records of timely repayments; it is highly likely that credit report agencies will get them also. Therefore, this is the best type for building rebuilding a credit history.
Conclusion:
Today, having a credit card has become a virtual necessity. Without one your financial options are severely limited. Whether your credit is stellar or dismal there are various types of cards that you can apply for on the Internet. Many even offer instant online approval, so you'll know immediately whether you have been approved or not.
by: Dan Karas
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