Online Credit Card Applications
Credit card applications come in every size, shape, form and method. You get them from your alma mater, sports teams, environmental and political action groups as well as your bank. Most of the time they come by mail, but more and more credit card solicitations are coming via email. Often times, the ones you receive by mail give you directions to their website to apply online for quicker service.
By now, you know that you need to investigate all credit card offers carefully – read the fine print. This can be done online as well; some will even compare their cards to those of their competitors for you. Check the annual percentage rate (APR) as well as annual fees (if applicable, and grace periods. See if there are bonuses or reward points included with these offers.
Once you have found the card that is right for you, you can proceed to the online application. The link or button that you click on to start should take you to a new page – a secure site for entering your personal information. The first things to check for on this page are the security assurances. The first is the addition of an “s” in the URL, it should start out with “https://”. This “s” stands for secure and means that the site has been encrypted and is virtually impossible to hack. The second is a security symbol, such as a golden padlock, either in the top or bottom task bars on the screen. Again, if this lock is closed, it is considered a secure site. If this lock is ever open, then the site is not secure. When one or both of these appear, then it is safe to enter your data.
By entering your personal data and submitting it to the credit card company, you are agreeing to their terms and conditions (which you should have read) and giving them permission to check your credit history. Just because the application is online and easy to complete doesn’t mean that everyone who submits one is approved.
Most online applications can give you a response in a matter of seconds. Some may indicate that they need more time to process the application – in the instance that you are overextended on credit or have none. You will usually receive a written response within a week if you are not approved immediately.
If you are approved immediately, then you will either be given a temporary number or card to shop with right away – online. And the actual card will be mailed to you. Some banks prefer to approve you and tell you the card is coming. That way they have more time to properly investigate your credit history.
It’s best to start with a card with a low limit to establish your credit history – start small to prove that you can manage having this responsibility. With several months of wise use and timely payments, the bank will show trust in you and increase your balance, as well as report that you are a good credit risk to other institutions.
Quick Tip #1
Although it may be overstated, there is a lot of truth to people ruining their credit score due to missing payments and
paying their credit card bills late.The fees can pile up and the interest rates can grow before you know it.
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Quick Tip #2
Never let your cards go out of your sight and always check your receipts and your card statements thoroughly.
These are simple ways to prevent credit card fraud happening to you. If you do see a suspicious credit card statement,
then call your credit card company straight away and cancel your cards. |
Quick Tip #3
Today’s cards offer a wide range of excellent features, including frequent flier points, programs that bank points toward a new car
and cards that support charitable organizations. Other options worth having include car rental insurance coverage, trip cancellation coverage
and extended warranty coverage. |
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