Getting Your Credit Card Online. Internet Application for Credit Card

Application for credit cards traditionally takes weeks, even for credit card offers that arrives in the mail pre-approved. These days, the internet has made everything much easier. With online application, you will get an approval within minutes. Of course you will also get a rejection within minutes too.

Immediate Response If You have Good Credit

For those of you with good credit, you will not have any problems being approved online for a credit card at all. Competition for credit cards are very cut-throat and low interest credit cards are readily available. The APR or interest rates for such cards can sometimes range below 7%. However these low interest credit cards are often designed for people with excellent credit ratings.

If you are unsure of your credit ratings, you should check out what is your credit yourself before applying online. This is because the online banks or lenders will retrieve and scan through your report when you apply online. Each disapproval for a credit card adds to your bad ratings. Make sure you routinely check your credit ratings. At the minimum, twice a year, to know where you stand.

Applying for that Credit Card Online

After you have looked at your credit report and determined how good your credit rating is, you can apply online for an immediate approval. No matter which credit card company you apply for online, they will ask for your personal information, such as name, phone number, social security number, age, employer and income etc.

Please read through the terms and conditions carefully before filling out the application online. You should review the APR or interest rates, as an introductory low interest rate on the credit card may only be applicable for the first 6 months. After which the interest rates can rise back to above 10%. This is important to note. After entering the application, the bank will pull your credit report using your social security number.

Things to Note for Online Application

Always use a secured/encrypted website for credit card application. If the bank or lender does not have a secured website, or it has a unnecessary long website address, this should raise some eyebrows. You are sending personal information and should always be extra careful. You do not want to be a victim of identity theft.

The other thing to note for online application is the availability of information and comparison sites for credit cards. You can easily find reviews or comparison on websites via google or yahoo. These sites allow you to easily compare the features and benefits of each card before application. You should make use of these services, as they earn a commission from each approval they sent to the credit card issuing banks or lenders.

If you’ve been approved, you can expect to receive your credit card in the mail in a few days. Applying for a credit card online is the preferred way to receive a credit card as the respond time for approval is amazing. There are hundreds of online credit card companies looking for your business - which gives you tonnes of choices when choosing the right credit card for you.

Increase Your Credit Limit on Your Credit Card

All credit cards come with a credit limit. This is often pegged to your credit worthiness as well as your monthly pay. A higher credit limit will allow you to purchase that expensive toy/ring that you have been eyeing. However beware of the temptation to over-spend, as the interest rates on the credit card is always waiting for you. With great power comes great responsibility..

Tips for Raising Credit Limit

In order to up your credit limit, the first thing to do is to increase your credit worthiness. Basically you must be able to prove to the banks that you are a trustworthy borrower and that they do not have to worry about non-payments from you. This is one of the key things that banks or lenders look out for when they check out your credit report.

You can let the banks know that you are a responsible credit card user by informing them when you are making a very large purchase, which is beyond your usual credit limit. You can request for a temporary credit limit increase and after purchasing the item, you would want to be able to pay for it by month's end. This will demonstrate to the banks that you need a higher credit limit and that you are able to pay for it easily.

Once you prove to the bank or credit card company that you can be trusted to borrow money, they may raise your line of credit. This strategy is useful but you are likely to have to call them a number of times before they will realize that you have a need for higher limit. A good way to let them know is by telling them that you would like to have a higher limit and ask the customer service officer to check your history. They will likely accede to your request if you have been paying off those purchases on time.

Another great way to get that credit limit increase is to use your credit card at every chance possible. This will show the bank that you are a loyal customer to the bank and you can even inform the customer service officer that you use their credit card exclusively. The credit card that you use for this purpose should be a low interest credit card, otherwise you may face compounding interest in a very fast manner.

Paying on time and paying the entire amount is always desired. You want to show that you can afford the type of large purchases that the banks liked in their credit card customers. If you follow the above tips, you will get your credit limit raised higher. Once you have the higher credit limit, you must be careful about over-spending as the temptation and ability to buy the latest gadget have grown stronger. Just remember the credit card interest rate has not gone down.

Repair Your Credit with Bank Secured Credit Cards

There are many credit cards for all types of consumers. Many of us who has a good credit rating are flooded with too many choices. However for those of you who may have a bad credit score, of whom wants to repair their credit, one of the best options is a bank secured credit card. Not only can a bank secured credit card help you to repair your credit, it works like a usual credit card, so that your friends does not have to know.

Same Look and Feel Like a Traditional Credit Card.

Banks secured credit cards look and work like traditional credit cards. The difference is that the issuing bank will use your bank account balance as a collateral. Your credit limit depends on how much you have in your bank account. The bank will take money out of your account when you are late in paying your credit balances. Bank secured credit cards ensures that neither yourself nor the banks lose out in anything when they issues a credit card to a person with bad credit.

Rebuilding your Credit bit by bit

Bank secured credit cards are highly suitable for those who have a bankruptcy or simply do not qualify for a line of credit due to bad credit or no credit history. By using bank secured credit cards and paying the monthly balances on time, you will be taking steps towards rebuilding your credit. Make sure you are able to pay your bills on time and the banks will recognized your discipline and credibility. Subsequently you will be able to apply for a unsecured line of credit or better known as a credit card.

No debts with a Bank Secured Credit Card

A bank secured credit card will only provide you with a balance that equals to what you have in your accounts. You will not be able to spend more than that. That means that you will not accumulate any debts. One detail to note is that the banks will take money out of your account if you fail to make payments on time monthly. Although this seems to be a back up plan for payments, do not allow it to happen as it will affect your credit score.

Late Charges Apply as Well

Like a standard credit card, bank secured credit cards can hit you with late charges when you do not pay your bills on time. These late charges incur interest charges and can compound faster than you think. The compounded late charges and interest charges can add up quickly that your bank account can be easily drained. Make sure you pay your bills on time and you do not have to worry about these types of charges.

For those who need to rebuild their credit, a bank secured credit card is a great card that can offer you the benefits of a line of credit as well as a facility to build your credit score. Most banks allow such secured cards but they do not readily offer to anyone who comes in through the door. Make sure your credit card bills are paid on time and once you have build up a decent credit, you can apply for a standard credit card; get a low interest credit card then.

For those who have bad credit or need to start building credit, a bank secured credit card is a great place to start. These cards can lead you to an unsecured credit card, providing you pay your bill on time. Almost all banks offer these credit cards, all you have to do is ask. Once you have kept your credit card in good standing for a period of time - you’ll have the satisfaction in knowing that you are taking the right steps in rebuilding your credit.

Getting a Low Interest Credit Card with a Positive Credit Report

Credit Cards are a common item in our everyday life. Almost everyone above 21 has a credit card nowadays, even people who has bad credit. Credit Cards are directly linked to your credit report. When you abuse your credit card, your also negatively impact your credit standings. This can have substantial impact on your future applications for other credit facilities.

Banks and Credit Companies reward credible and trustworthy credit card customers. Customers who pay on time are important to banks as we provide stability to their cash flow and ability to loan greater amount of money. Low Interest credit cards are often only available to customers who have a good track record i.e. a positive credit report.

Don't Let Your Credit Card Destroy Your Credit

Banks and lenders will use your credit report to screen all their credit card applicants. Most banks and lenders have a portfolio of credit cards that they can offer you. Naturally they will offer their best products to their best customers, and these customers have positive credit reports. Your credit report is hence an critical factor for your credit and it can determine the whether the banks or lenders will offer you that low interest credit card. Paying your bills on time is now of the key factors that determines your ratings.

The majority of people are responsible borrowers and would not want to damage their credit report. Paying your bills on time and maintaining positive reports will demonstrate to the banks and lenders that you are a credible person. If you have too many credit cards, this can also damage your credit reports, even if you pay your bills on time.

Having More Than One Credit Card Can Have Negative Impact

When you rely on too many credit cards, lenders may see you as a likely candidate for overspending. Banks and lenders will fear that you will hit the spending limit on all your cards and be unable to pay them. Although this is not from an unlikely scenario, you will be tempted to spend beyond your means with the availability of fast credit. Try to maintain only a few essential credit cards.

Something else you will also need to keep in mind is the fact that it can be really easy to miss a payment on your credit cards. Although this doesn’t sound bad, it can have a very negative look on your credit report. If you start missing payments or paying them late, the lender will eventually enter it in your credit report. This can have a negative impact, lowering your beacon score and eventually bringing down your overall credit rating.

If you play it safe and only get one or two credit cards and keep a track of how you use them, you won’t need to worry. Your credit report should always be a primary concern, and you should always do your best to ensure that it stays free of negative ratings. If you keep up things up to date - you’ll enjoy the benefit of a positive credit report. And perhaps that low interest credit card

Jared L