Be Prepared When You Apply For A Credit Card
Getting and having a credit card can be a beneficial thing for most people. You will have a big advantage when you have a credit card. A credit card can be especially useful when you want to purchase items remotely. Think how much easier it is to make purchases online, and reserve plane fare or hotel rooms over the phone when you have a credit card. It can also come in handy when you just don’t happen to have cash when you decide to make a purchase. However, there is a flip side to having a credit card! A credit card can cause several problems if you don’t watch your spending habits closely. When you get and use a credit card, you should recognize that you have taken on a big responsibility with some very serious consequences. Following the simple tips below can keep you out of trouble when using your credit card and allow you to enjoy all benefits:
1. A charge on your credit card is the same as taking out a mini loan! Keep track and make sure you don’t overcharge on your credit card, as you have to be able to pay back all whatever amount you have borrowed.
2. Watch the balance on your credit card and keep a record of the balance from month to month. Keeping track of what you have already spent will help you make the decision of whether you can use your credit card for any additional purchases. Even the small $5 purchases you make here and there can add up on a credit card if you don’t watch out…and then the interest will also add to your balance owed.
3. Keep your credit card receipts until the end of the month and compare them to your monthly credit card statement. This practice will allow you to catch any incorrect charges, or sometimes you may catch a purchase you never made! If you do find discrepancies between your receipts and your statement, call your credit card company right away.
4. Neither a lender nor a borrower be! That is a good motto when it comes to your credit card or credit card number. Don’t give these out to anyone! Even though you may trust your family and closest friends, you cannot keep track of purchases you are not making.
5. Make it your habit never to charge more than you can pay back. When you do charge more and don’t pay it back, it can hurt your credit rating and will affect your future chances of getting credit approval. This can include important purchases you may make in the future, like car loans, home mortgages and other kinds of loans.
6. Pay your bills on time! When you pay on time, you will save on accruing interest and extremely high finance charges for late payments. If you miss a payment, finance charges and interest just keep adding up, making your balance get higher and higher.
7. Try to pay all of your credit card balance in full each and every month. Put credit card payments into your monthly budget, and don’t purchase more than that allotment each month.
8. Remember you are responsible for $50 of any unauthorized charges on your credit cards.
9. Keep your credit card for new purchases only. Don’t pay off other household bills with your credit card. This will inevitably lead to more charging and higher balances.
Being Instantly Approved: What Does It Take?
The pace of today's life is a way too fast, and we are trying not to lag behind. Instant food and drinks, instant photos and manicure – instant everything! People want things to be instant to save time. This is why banks are widely promoting instant approval credit cards. Applying for such a plastic, you can receive the approval in seconds! It is a fantastic offer for those who want to get a credit card as soon as possible. Isn't it great – you send an order and receive the bank's reply in a moment! But let's have a closer look at instant approval plastic cards.
- Are you eligible for an instant approval card?
This type of plastics was originally created for consumers with good and excellent credit. Nowadays, such reputable banks as American Express (known for focusing on applicants with good credit) present a range of products with instant approval implying low interest rates and appealing rewards. At the same time, there are instant approval cards for bad credit score on the market. First PREMIER bank, being among the leading issuers of credit for consumers with low score, has included instant decision to the features of the majority of its deals.
So, whatever payment history you have, you will find a plastic with fast approval for your credit circumstances.
- What is actually an instant approval?
Instant approval service became available when banks launched computer processing of credit card applications. After you send your application to the bank (after filling out the form at the bank's site), they make a query for your credit profile and evaluate it (with the help of a computer program). If you meet the requirements, the bank responds to you in the affirmative. All the steps take a few minutes only; that is why the service is called instant approval. Pay attention to the fact that instant approval does not imply instant delivery of the plastic. You will have to wait for the card to be delivered during a week or so.
- Do you need instant approval?
According to reviews some banks held, people like the idea of instant approval. That is why more and more banks include this kind of products in their offers. But let us think of the advantage of instant approval. Is it really so necessary to be instantly approved – i.e. to learn you will be given a card the same hour you filled out your application. In my personal opinion, this benefit can be great for those with bad credit: getting a fast approval, they would not have to worry and go on applying for plastics, in the hope of someone will approve them at last. Such behavior lowers the credit score. It should be pointed out that some banks can send the card numbers to the approved consumers before delivering the cards, but such service is not a common practice.
Probably, the details described in this article will enable you to have a fresh look at instant approval cards and help you make the right credit card choice.