Applying For Credit Card

By: John M. Stafford

Today, it's easier than ever to apply for a credit card. Banks are easing requirements and it seems that everyone, even those with no or poor credit, are credit card holders in this day and age. The reason that credit card issuers are making it so simple to get approved is because they make substantial profits by charging these individuals higher than normal interest rates.

So, why should you tread carefully when applying for a credit card? Often times, creditcard applicants don't read the fine print or the "cardholder terms" and end up with cards that have big annual fees or extremely high APR's. This is very easy to do because often times, applications are submitted over the Internet and are processed very quickly. It's important that you carefully read all of the details before applying.

Having a credit card certainly has a host of advantages, and I am a big proponent of carrying them. However, with this newfound convenience comes new responsibilities as well.

When making purchases and charging them to your new credit card, I would recommend doing so only if you are certain that you can pay off the balance in full at the end of the billing cycle when your statement arrives in the mail. Using discipline will ensure that you don't end up with a high credit card balance that you can't pay off, and therefore have to pay costly interest payments on the balance.

Also, be sure that you always make your payments on time. If a circumstance arises where you don't receive the bill in time to make your payment, simply call your credit card customer service number and inform them that the bill arrived late and payment is on the way. Typically, they'll make sure to waive any late fees that would have been charged and note the account as not being late.

Hopefully this brief article has given you some helpful things to keep in mind as you're applying for your next credit card. Remember, use your credit responsibly!

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