Credit cards allow you to manage your finances wisely, provided you do not pile up huge balances of unpaid bills. You can make purchases for which you are billed later. You can carry forward your credit balances from one billing cycle to another by paying interest on it. Applications for credit cards can to be filled online or with the credit card companies personally. Many a time online credit card applications are approved soon. The process of online credit card application saves considerable time and effort. Most credit card companies offer enticing reward programs that benefit consumers who use the card often.
Credit Card Application
It is simple to apply for a credit card because the applications are readily available at stores and restaurants and mail catalogs. All you need to do in fill in the application for the credit card with complete details. Credit card applications require details about your name and address so that your credit history can be verified. These details are critical in assigning an appropriate credit limit and interest rate. Only after your credit history has been perused, does the company decide to approve your credit card application. Credit card applications are screened to verify the credit worthiness of the applicant. Credit card merchants would want to lend money only to persons who can make payments so that their risk is minimized. A bad credit rating can prevent your credit card application from getting approved.
Online Credit Card Application
If you do not have an established personal credit, chances are that you may not get a credit card application offer through the mail. In such cases, online application for credit card is the best recourse. The online process of applying for credit cards also allows you to compare features of various credit card companies and make a more informed choice. Read the fine print so that you are not caught unawares.
Sometimes, you can avail of online offers of credit cards without application fees. With the competition hotting up, you will find yourself in a position of being able to choose from the various credit card merchants. When you are approved for your credit card, you will receive notification by email. Websites of credit card companies allow you to make applications online and sometimes give you an offer of an instant credit card.
When applying for a credit card online, ensure that your computer is well protected against virus and hackers so that others do not track your confidential financial information. Online credit card applications are processed faster and you can get your credit card approval instantly. The entire process of online credit card application is completed in a few minutes and your digital signature is verified. Remember to take printouts of your online application for credit card as well as any approval or notification.
Credit Card Reward Program
Most credit cards offer reward programs for their consumers - schemes that manifest in the form of cash backs or percentage discounts or redeemable points on products or travel. Consumers would do well to understand the rewards programs on credit cards so that they can gain advantages from using the card.
Using one credit card allows you to accumulate higher reward points on it and makes you eligible for better rewards. But do not choose a credit card company merely on the basis of rewards programs since the interest rates may be higher. Rewards programs can include airline tickets or car rebates or even contributions to a college savings plan.
Though most credit card rewards programs are used as travel tickets, many are rewarding their best customers with rare opportunities ranging from cosmetic surgery and adventure holiday to a cooking course in a Swiss school. Diners Club rewards points have been redeemed for exotic programs such as safaris in Africa to a honeymoon in Bora Bora. Some other rewards programs from major credit card companies are known to have included liposuction, dental work or some self-indulgent extravaganza. The down to earth homeowners have opted for renovation and home improvement facilities.