Forgot your password?

How to Apply for a Credit Card

By Edited Aug 22, 2015 0 0

It may seem like everyone internationally can get easy credit, but this isn't exactly true. While a lot of your family and friends probably have credit cards, not everybody is so fortunate. You'll see that individuals who have never had a credit card before often have trouble qualifying for them, as they don't have any credit history. It will also be possible to discover that if you've had credit problems a long time ago that obtaining a new card might not be source straightforward for you. In most cases, knowing how to try for a card is an easy matter of completing a form. But, if you don't have credit or bad credit, you will need to learn what types of forms to fill in, because that will make a difference on whether you qualify to receive any type of card or not.

If you don't have credit history, you can begin by applying for store credit cards, like Sears or JC Penny. These are usually easier to get than other cards and are often recommended for people just started globally of credit. You can also apply for gas charge cards, as it is these that are the pretty easy to get, too. If you are a college student, you can normally qualify for a Visa or MasterCard even with no credit history, as these businesses view your parents as a back-up source of payment if you are not making plenty of money to do so. Obviously, with the new credit card laws that recently went into effect, you might not be able to get even a student card without a mother or father co-signing on it until you're 21 years of age.

If you have bad credit, then you'll have to get a little more creative. You will have to try for sub-prime cards, such as the Orchard Bank or First Premier cards. These cards have low initial limits and high annual fees, but are beneficial to re-building your credit if it's gone bad. Just make your payments on time and you'll soon be able to qualify for a new card with a better limit and a better rate.

If you ought to know the way to go for a credit card for the worst type of credit, then choose secured cards where your limit is secured by a deposit you make. These cards still report to the credit bureaus and are able to help you raise your credit rating when little else will work. If you establish a good history of paying these cards punctual every month, you may find that after some time, the credit card company will convert the card to a regular, non-secured card for you. Plus, sustain the good payment history and you can gradually invite and get higher credit limits on these cards. Pretty soon, you will have good credit, low rates of interest, and high limits again as you did before, and that will be a good feeling. Just keep working on it and do not stop, because it will happen.



Add a new comment - No HTML
You must be logged in and verified to post a comment. Please log in or sign up to comment.

Explore InfoBarrel

Auto Business & Money Entertainment Environment Health History Home & Garden InfoBarrel University Lifestyle Sports Technology Travel & Places
© Copyright 2008 - 2016 by Hinzie Media Inc. Terms of Service Privacy Policy XML Sitemap

Follow IB Business & Money