(c) Copyright Resume Corner, Inc. DontSpendMore.com. All rights reserved.
What you Need to Apply for a Credit Card? Get all your Doubts Cleared
Credit cards are no longer a tool of convenience; they are turning into necessities. Considering how commonly credit cards are used in day to day life, it is necessary to know how to get a credit card and what you need to apply for a credit card. Before detailing the process involved in applying for a credit card, you will need to know a few basic things. Choose a low rate credit card offer at DontSpendMore.com
Click here to compare and save on credit cards. Low APR and 0% APR credit card offers from multiple providers. Click here to save now. |
Three things to keep in mind before applying for a credit card:
* This online application is subject to the terms and conditions as described in the Important Information Section of the application. |
||||||||||||||||||||||||||||||||||||||||||||||||
1. Apply Selectively
First of all, you should understand that applying for a credit card is different than applying for other stuff; like say a bank account. You can choose to apply for a bank account with different banks and it will not affect you in any way. But putting in several applications for getting credit cards issued from different companies can land you in trouble.
This is because each of your application will be considered as a proof of your financial troubles. The credit bureau considers these applications as a credit enquiry. While one / two casual enquiries may not seem like a big deal, applying for several credit cards all together can be expensive and can undermine your credit score by as much as 10-20 points.
If you have an already poor credit score, 10 / 20 points can inflict a huge blow to your credit score and can ditch all chances of you ever getting a credit card issued.
2. Compare Before You Buy Each of the credit cards comes with different pros and cons. Try and be diligent in comparing them and pin point the one that is best suited for your needs.
3. Credit Cards Can Cost You
Read the fine print to understand detailed terms, such as finance charges, late payment penalties, cash advance fees, APR, and other jargons that could cost you.
What You Need to Apply for a Credit Card?
Okay now that you have got the 3 things out of your way, let us discuss what you need to apply for a credit card. Here is a concise list for your convenience. Make sure that you have all these documents ready before you put up your application.
- Documents to prove that your age is over 18 years
- Documents that show your gross annual income
- Address proof
- Name, address and details of the place of your employment
- Financial details pertaining to any previous loans
Synopsis
I hope all of your doubts regarding what you need to apply for a credit card have been solved by this post. Finally it brings us back to the same old point that applying for a credit card is not the tough part, getting approved by the scrutinizing credit card companies is. So make sure that you are eligible and your credit reports are spot free.At DontSpendMore.com, you can apply for your credit card online and receive an instant approval, where possible. That’s about as easy as it gets.
| Thank you for visiting us. Do consider visiting DontSpendMore.com to compare and save on credit cards, cell phones, loans, long distance, mortgages, Internet access, and more. |
Click here to find out how to save money on credit cards
Compare and save on credit cards, cell phone, long distance, Internet access, mortgages, insurance, and more at www.dontspendmore.com
Home Contact Us Partners Tell A Friend Privacy Policy About Us Terms of Service