Credit Card Inform

 

Applying for a credit card can happen many different ways.  However most of the 'easy' ways for getting a credit card are not always the best way.  For example, when you make a purchase at a retail store, you are often offered a discount on your purchase if you complete a credit card or retail card application.  Usually, when the credit card application is hurried, the deal isn't so good.

Other common ways to receive a credit card application is through the mail.  Every once in a while a credit card application shows up in your mailbox.  Credit Card Inform strongly recommends that when you decide to get a credit card that you take the time to compare many different credit card offers.  Look online for a credit card offer, and compare that to applications that come in the mail.  Spend a little time researching each credit offers, as there are considerable resources on the Internet, that may help reveal other people's opinions.

What should you look for in a credit card application?

You should be very aware of the particular details for every credit card application you are considering completing. 

1.  What is your credit card interest rate or APR? If they don't specify, then find out or move on to the next application.
2.  Is your credit card interest rate temporary? For example, will it change in 6 months or after 1 year?
3.  Do you have to pay an annual fee, or is the fee waived for the first year only?
4.  Does the credit card offer rewards or other incentives? Incentive based cards average about 1% more than non-incentive credit card interest rates.
5.  Understand your grace period, late fees, and other elements that can rack up fees against you.

After you receive your new credit card:

Once your credit card application has been received, and approved, the credit card company will send you your credit card and PIN number separately.  If you do not get your PIN within a few days of receiving your credit card, then contact the credit card company immediately. 

Check to make sure that the credit card interest rates is the same as advertised. If not, call them immediately and demand an explanation. Cancel the credit card if they cannot implement the interest rate that was originally advertised.

Check of online resources, such as an online credit card statement, and an online bill payment feature. Keep the original paperwork and other documentation that came with the card.

Try your best to pay the credit card in full each month. This will reduce the overall amount of interest you will have to pay for borrowing money.

Stay on top of payments, your credit score and any hints of fraud.