-
Recent Posts
Categories
Home > Credit Card Blog
Credit Card Blog
3 Steps for Facing Credit Card Application Rejection September 28, 2010 - 9:06 amApplying for a credit card is not a simple task where you fill in some blanks and are instantly approve for several thousands in credit. No matter how many options for making credit applications easy, there is still no way around carefully completely an application filled with your personal and financial information.
After the time you spent researching the various cards and then filling out the application form, you also have to wait to hear back on the approval. It can be a time-consuming, hurry-up-and-wait process but what happens when your reply is a denial? People in general often take rejection to heart and after having put the time into the application process, the denial hurts just a little bit more.
So what do you…
Types of Credit Cards September 26, 2010 - 11:11 am
If you thought all credit cards were the same, think again. One of the most important things to know before you apply for a credit card is that credit cards are different. Keeping this in mind will help you choose the best credit cards, prepaid cards or even charge cards.
Standard Credit Card
What most people are referring to when they say credit card is a standard credit card. The standard credit card has a pre-set credit limit against which you can make purchases each month. Your purchases accumulate and reduce your available credit. A minimum payment is due each month based on your interest rate and credit card balance. There are late payment penalties when you don’t make your minimum credit card payment.
Standard…
7 Things You Should Know About Credit Cards September 24, 2010 - 11:06 am
When it comes to credit cards, the uninformed pay dearly for their lack of knowledge. The more you know about your credit card, the easier it is to avoid the fees and interest they charge. When you apply for a credit card or use the credit cards you already have, keep these things in mind.
Credit cards have a direct impact on your credit score. Most credit cards are listed on your credit report, so how you use your credit card will raise or lower your credit score. Timely credit cards payments help your credit score, while late payments will bring it down.
Your credit card issuer doesn’t “just understand.” You can’t miss a payment and think your credit card issuer will automatically withhold…
Clean Up Negative Credit Marks Before Apply for New Credit Cards September 22, 2010 - 9:23 am
When you apply for a credit card, it is important to first know where you stand when it comes to your credit worthiness. Consumers looking to apply for a new card should check their credit scores to ensure they will have the best options and get a good interest rate on a new credit card.
Negative credit histories can hurt your chances of getting a great credit card. You will likely have a higher APR than other customers, that is if you get approved for the card at all. Negative information being reported back from your other creditors to the credit bureaus that track your credit data can affect your credit score for a long time.
How Long Does The Bad Stuff Stay?
In general,…
Drawbacks of Being an Authorized Credit Card User September 20, 2010 - 9:34 am
If you can’t get approved for your own credit card, you might ask a parent or relative to add you as an authorized user on their credit card. Being an authorized user lets you get many benefits of having a credit card without having to apply for a credit card. You can get a credit card with your name on it, make charges on the credit card, and even have the credit card history added to your credit report. Unfortunately, there is a downside to being an authorized user on someone else’s credit card.
Authorized User Impact on Credit Scores
When you’re an authorized user, your credit score will be affected by the primary cardholder’s credit card usage. When that cardholder is responsible –…
How to Pick a Student Credit Card September 18, 2010 - 9:30 am
Students, you have to be especially careful when you apply for a credit card. Your limited income makes it easy to charge more than you can afford to repay. Credit card issuers are more than happy to let students rack up loads of credit card debt. That’s because issuers are betting your parents will help pay off your credit card bills. That’s not a guarantee, though. What if your parents can’t afford to pay your credit card debt? What if they decide it’s time for tough love?
When you’re choosing a student credit card, keep these things in mind to help keep you out of debt.
No annual fee
You’ll find many student credit cards that require you to pay a yearly fee simply for…
Questions You Should Ask Before You Apply For a Credit Card For Your Business September 16, 2010 - 9:05 am
Before you stop at the bank or go online to apply for a credit card for your business, you should first understand the advantages and disadvantages of using business credit cards. The potential advantages are clear, in that a business credit card can help you manage your business finances in a more organized way, but how can you avoid the potential disadvantages? Here are questions you should ask before you sign an application for a business credit card to help you avoid any disadvantages of using credit for your business:
How Much Will I Pay In Interest With This Credit Card?
If you are comparing several different credit cards for your business, you want to apply for a credit card with the best interest rate…
4 Most Important Credit Card Features September 14, 2010 - 8:55 am
Whenever you apply for a credit cards, no matter which type of credit card it is, you should always look at certain features. These features are most important for keeping your credit card cost at a minimum.
The Interest Rate
A credit card’s interest rate is usually the single most important feature. That’s because it influences how much you pay for carrying a balance on your credit card. If you pay your credit card balance in full every month, the credit card interest rate won’t matter so much. But, for everyone else, interest rate is critical. The higher your interest rate, also known as your annual percentage rate or APR, the higher your monthly finance charges will be. If you plan on carrying a balance…
Variable vs. Fixed Rate Credit Cards September 11, 2010 - 8:52 am
A credit card interest rate is the annual cost of carrying a credit card balance. While there are several different types of interest rates – penalty interest rate, default interest rate, interest rate for purchases – there are two basic ways to classify interest rates: fixed and variable.
Fixed interest rates remain the same unless the credit card issuer sends advance notice of the interest rate increase. Variable interest rates, on the other hand, can change without notice from the credit card issuer. While both interest rates can change, but the major difference between the two is when the change can happen and whether you have to be notified of the change.
Variable Interest Rate
A variable interest rate on a credit card is one…
Credit Cards for Those with Low or No Credit Scores September 9, 2010 - 9:08 am
Applying for a new credit card requires a credit check and if you have low credit scores and negative credit information listed on your credit report, it can make it more difficult to find a good credit card. It can also be harder to be approved for a new credit card.
Your credit score will be a big factor in the credit card company’s determination of approval. Credit scores range from 300 to 850 based on a complex formula used by the credit reporting bureaus. For those who have score under 700, you will not qualify for most cards with a good APR. However, there is hope for people with low or no credit scores.
Credit Cards for Less-than-Perfect Credit
Because credit cards are unsecured…
Home | About | Credit Cards | News | Blog | Questions
Privacy Policy | Terms & Conditions
Copyright © 2011 ApplyForACreditCard.com. All rights reserved.
By using our service and providing your personal contact information, you agree that ApplyforaCreditCard.com, any of its affiliates and any company you are matched with may contact you by any method of communication, including by telephone even if you are on a federal or state Do Not Call registry. This site is a free matching service intended to provide a variety of options and information, and is not responsible for any service/information provided by any third party provider. ApplyforaCreditCard.com is a marketing and advertising agency only. It does not supply the service provided for therein, rather it provides a matching service. Upon your submission of the information requested on our website, we re-direct you to one or more of our participating service providers. You are under no obligation to pursue business with any of the participating service providers in our network. We encourage you to review each service carefully before electing to do business with them. Further, you should review their privacy policy and terms on the their page and contact them directly regarding their organizations' policies.
The content, including without limitation any viewpoint or opinion, contained in any article or video posted on this website is for informational purposes only and does not necessarily reflect the opinion or viewpoint of ApplyForACreditCard.com. Any third party contributor to any such article or video has been compensated by ApplyForACreditCard.com for such contribution. It is advised that you conduct your own investigation as to the accuracy of any information contained herein.