Credit Card Applications 101

Credit Card Applications 101
Credit cards are ubiquitous and relatively easy to​ obtain .​
The process involves filling out a​ credit card application form,​ which is​ a​ relatively straightforward process .​
All the​ same,​ it​ is​ advisable to​ have an​ idea of​ how credit cards work and the​ right way of​ filling out a​ credit card application .​
An individual’s credit history has a​ major bearing on​ the​ approval of​ his credit card application .​
Credit card companies can access an​ individual’s credit history from various credit reporting companies .​
Applicants too should carefully read the​ application form and ask relevant questions about the​ credit card company .​
Unless the​ credit card is​ from a​ company that one is​ already doing business with,​ it​ is​ advisable to​ get an​ idea of​ their customer service and check for information on​ the​ Better Business Bureau .​
The Federal Government requires that the​ credit card applications elaborate the​ terms of​ credit clearly for the​ benefit of​ the​ applicant .​
This makes it​ easy for applicants to​ arrive at​ a​ decision regarding the​ right credit card for their circumstances .​

Since credit card usage varies between people,​ there are different types of​ cards available; however,​ for a​ majority of​ people a​ low interest rate credit card works best .​
The credit card application mentions whether the​ APR is​ fixed or​ variable .​
The variable rate varies with the​ prime rate fixed by the​ Federal Reserve .​
a​ variable APR may not be a​ good idea for those who carry their credit balance forward .​
Other features such as​ the​ annual fees,​ grace period,​ and transaction charges should be understood .​
This helps in​ comparing offerings by the​ various card companies and in​ understanding the​ compatibility of​ these offerings with one’s lifestyle .​
After approval of​ the​ application,​ the​ card is​ mailed to​ the​ individual .​
It is​ advisable to​ read the​ accompanying literature carefully and file it​ safely for future reference .​

In order to​ understand the​ various terms used in​ a​ credit card application and to​ get other helpful advice,​ an​ individual can research on​ various websites that offer easy-to-understand explanations.
Credit Card Applications 101 Credit Card Applications 101 Reviewed by Henda Yesti on December 31, 2017 Rating: 5

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