Before making the decision to get a credit card online, there are a few factors that you may want to take into consideration. Firstly, it is worth researching the type of credit card you want and also researching what you want it for. Credit cards are an increasingly convenient method of handling cash-flow and can be used from anything such as simple purchases to debt-management; used wisely, credit cards can be valuable tools in times when access to extra funds is required. There is also the added benefit of up to 59 days worth of borrowing, interest-free - as well as valuable rights under Section 75 of the Consumer Credit Act. Many credit cards also offer incentives such as free air-miles or discounts on certain purchases and services.
Credit cards are also relatively easy to apply for, but you should invest some time in research and planning ahead before you make that application, be it online or otherwise; just as though you were deciding which credit card to apply for.
Online comparison sites can be valuable resources when you're trying to assess the pros and cons of varying credit card offers online. Sites like MoneySupermarket.com and Motley Fool.co.uk display tables showing the differences between various credit cards, giving you the chance to review the benefits that may be pertinent to your situation. Their information is designed to be easy to read and understand and many feature direct links to the application pages of many of the credit card companies. Comparison websites and the Internet in general are also both useful research tools when it comes to understanding the lingo that often accompanies credit card offers. Terms like APR or the concept of balance transfers and the interest rates that apply may be unfamiliar to you. It is worth researching anything that may be confusing or that you might not immediately understand; that way you will be better equipped to make a more informed decision about what is, after all, an important financial commitment.
While you're at it, checking your own credit score is another prudent tactic. Your credit score is a reflection of your personal credit and spending history and can have a direct impact on whether or not you will be offered any credit and, if so, how much. If you have a bad credit score, you are likely to have a harder time getting a credit card than someone who has a good credit rating or, perhaps strangely, someone who has no credit score at all. You can get a copy of your credit rating through the three main credit bureaus, Hyperion, Equifax or Experian, online or through the post, for a small fee. It's also worth bearing in mind that submitting applications for more than one credit card at any one time can impact negatively on your credit card, so it's better to do a bit of homework and find the one that is best and most attainable for you, rather than firing out a round of application forms and hoping that one finds its target.
Ultimately, managed wisely, credit cards can be a major asset. They are safe, convenient and offer a sense of consumer security - especially when it comes to cancelling a payment for faulty or unsuitable goods or services. They are also incredibly useful abroad and in the event of emergencies, be they medical, vehicular or abroad. If mismanaged, credit cards can lead you into what seems like a never-ending spiral of debt. To avoid this situation, careful planning, thought and financial management are advisable before any form of application.
If you know why you want the credit card, how you intend to use it and whether you can meet the necessary repayments once the introductory offer has expired, then you should be on your way to applying for a credit card that can become a valuable and beneficial financial tool.
Credit cards are also relatively easy to apply for, but you should invest some time in research and planning ahead before you make that application, be it online or otherwise; just as though you were deciding which credit card to apply for.
Online comparison sites can be valuable resources when you're trying to assess the pros and cons of varying credit card offers online. Sites like MoneySupermarket.com and Motley Fool.co.uk display tables showing the differences between various credit cards, giving you the chance to review the benefits that may be pertinent to your situation. Their information is designed to be easy to read and understand and many feature direct links to the application pages of many of the credit card companies. Comparison websites and the Internet in general are also both useful research tools when it comes to understanding the lingo that often accompanies credit card offers. Terms like APR or the concept of balance transfers and the interest rates that apply may be unfamiliar to you. It is worth researching anything that may be confusing or that you might not immediately understand; that way you will be better equipped to make a more informed decision about what is, after all, an important financial commitment.
While you're at it, checking your own credit score is another prudent tactic. Your credit score is a reflection of your personal credit and spending history and can have a direct impact on whether or not you will be offered any credit and, if so, how much. If you have a bad credit score, you are likely to have a harder time getting a credit card than someone who has a good credit rating or, perhaps strangely, someone who has no credit score at all. You can get a copy of your credit rating through the three main credit bureaus, Hyperion, Equifax or Experian, online or through the post, for a small fee. It's also worth bearing in mind that submitting applications for more than one credit card at any one time can impact negatively on your credit card, so it's better to do a bit of homework and find the one that is best and most attainable for you, rather than firing out a round of application forms and hoping that one finds its target.
Ultimately, managed wisely, credit cards can be a major asset. They are safe, convenient and offer a sense of consumer security - especially when it comes to cancelling a payment for faulty or unsuitable goods or services. They are also incredibly useful abroad and in the event of emergencies, be they medical, vehicular or abroad. If mismanaged, credit cards can lead you into what seems like a never-ending spiral of debt. To avoid this situation, careful planning, thought and financial management are advisable before any form of application.
If you know why you want the credit card, how you intend to use it and whether you can meet the necessary repayments once the introductory offer has expired, then you should be on your way to applying for a credit card that can become a valuable and beneficial financial tool.
About the Author:
Before buying anything online, read Amy Newman's report about applying online for Credit Cards. As a Personal Finance writer, she has an excellent understanding of online Credit Card application. Get a totally unique version of this article from our article submission service
No comments:
Post a Comment