Credit card use in the U.S. is growing rapidly with just over 14% of Americans holding more than 10 cards. Take on board the fact that the average American holds four credit cards and it becomes patently obvious that credit cards now play a major role in our day-to-day lives. You may ask why is it that people need so many cards? Well the truth of the matter is that your typical businessman may have different cards to manage different areas of his business. For example, he may have a buy cloned credit cards online for gas for his car. He may also have a card for hotels and accommodation, his flights too may be charged to another card and so on. But there are many Americans who have more than one card simply because none of the cards in their wallet work for them as they should..
One of the most common reasons for this is that he/she did not take the time and effort to research. Before you set out to apply for a credit card online, it is crucial that you research the market in order to find the perfect card to meet your personal requirements. Also, unless you have near perfect credit history, you should take the time to find out your current credit score as this could affect your choice of card. There are four simple rules to follow before you apply for a credit card online, which if implemented, will ensure that you end up with a card that will be tailored to your needs.
Credit Score. If you have a good credit score or a poor credit history, you will know it! If your credit is good, and you have no reason to doubt that, then you can move on to the next part of the process. If your credit is poor then you have two choices. Before you apply for a credit card online you should set out a plan to repair your credit in the shortest time possible. This can involve either taking whatever credit card you can, even if the APR is high or you are requested by the card issuers to pay a deposit, or if your credit is dreadful, apply for a debit card (pre-paid). Either of these choices will give you the opportunity to demonstrate that you are able to manage your card proficiently, which will increase your credit score dramatically. Those individuals who are unsure of their credit score I would suggest you find out exactly what it is before you carry out any serious research (This information is available online). Different agencies use varying techniques to determine your credit score, but generally speaking underwriters suggest that a FICO score above 620 is good while results below 620 should result in further inquiry from the lender.
Research The Market. Research is the most important part of the whole process when you apply for a credit card online. Yes, it can be tedious, but if you use due diligence here you will end up with a credit card that works for you and not the other way around. This will save you from having to apply for a further card six months down the line. Many online credit card websites are currently offering comparison charts, and while this is an easy process, it wont necessarily return accurate results. Browse for websites that describe the different cards available and the advantages of each card. For example, Rewards Cards, Low Interest Cards, Low Introductory Rate Cards, No Annual or Monthly Fees Cards, etc. The list goes on. Take all the information you learn to help you determine how much the card will cost you each month. Budget carefully and be sure you do not over-commit yourself financially. Read the small print on each offer. You will need to know about late payment charges, cash-backs and zero liability in the case of unauthorized purchases. Be wary of offers that include a low or zero % initial interest rate. You need to know when the rate will revert back to normal and exactly what that rate will be.
