We all need credit cards. We are living in a society based on credit. You need credit history to apply for any kind of loan, mortgage, and even rent a place to live. Credit card is the main venue you can build your own credit history. There are immediate benefits from credit card as well. To name a few, you can get help with bills not having the cash for. You can greatly reduce the load in your wallet comparing to carry cash only.
However, credit cards issuers will not giving out credit card without knowing who you are first. You typically have to fill out an application before you can get one. This process is called "applying for a credit card". If you are about to begin this process, please read on to get some tips.
In applying for a credit card, you will have to disclose your personal information to the issuers. Your social security number is the most important piece of information. You can apply for a card by Internet, calling the credit card issuers, or filling out/ mailing in the application form. You all will have to give out social security number, no exception. In terms of safeness, calling the issuers is most safe way. Of course, you should be the one calling. If you got a call and offer you a card, you should ask them for the number, verify the number if you can, and then call them back. Be careful of faked credit card call and scam.
To get the most of your credit card, it is wise you do some comparison research. Internet is the best place to do such a research. Web site like us specialized in bonus back card. Most credit card companies have a low introductory APR rate for new credit card members. Introductory APR can go as low as zero APR for anywhere from 3 to 15 months. You should pick the one suit you best.
If you want to do balance transfer in applying for a new card, then you may have to pay transaction fee. Always call them and asking for waive the fee. Some will and some will not. You have to calculate the fee against the interest you can save to determine if you want to go that route.
Also equally important, is annual fee. Unless you don't have any credit history or just out of bankruptcy, do not pay the fee. This fee only make sense if you card is associated with an organization, professional or not. The fee can be applied to membership due. An example is Costco. It turns out AMEX Costco is the one of the best card, but you will have pay membership due every year.
The last question what will ask in applying for a credit card is what my credit limit is. The credit limit is based it on your household income and credit score. Generally speaking, you should have credit limit at 2 to 3 times of your monthly spending.
These are all of the most important aspects of applying for a credit card. Do your research first. Since credit card is so important, it is always beneficial to learn more about it.