Want to apply for credit card? - watch out for pitfalls!
For your choice are best reward credit cards, gasoline credit cards and hotel credit card applications! Take advantage of all benefits of unsecured credit card applications for credit cards with no annual fee and best APRs possible. The best discounts on purposeful purchases are sure to be found with student and business credit card applications looking even more alluring for allowing instant online credit card approval! You inevitably read suchlike slogans or hear these words whenever you come to the point of applying for a credit card.
Do know that these promises are just half true and are barely likely to be realized if you don?t know the catches and how to approach them? And credit card companies, even most trustworthy ones, do try to make most of you as a credit card holder.
Let?s face facts. Will you be able to say then that a credit card company is really your friend and a credit card serves your particular purposes for fair?
We suggest starting our analysis with the two dearest things in your life ? your financial power and wellbeing of your family, your children in particular. Mind it that when you apply for a credit card, these things are first to be affected.
Unlike most common practice of discussing credit cards? benefits and their impact on your purse, let?s begin with your children first. Credit card companies are self-profiteering enough to use your slow-witted children or spendthrift students, financially dependent yet, as an effective means of sucking money out of their parents. Credit cards for students are aggressively marketed to young people and the money lenders do not actually mind their insolvency as they?re sure, parents will compensate for the losses. Student credit card applications are so easily available that they are completed in great numbers and the amount of credit card debt accumulated by them is rising to striking numbers. Who is to deal with the debt? Of course, their financially capable parents!
Guard yourself from the creditor?s tricks to pull out your money at the expense of your children! Prevent them from becoming victims to the creditor?s market and from using their credit card in the favor of the company. When offering a credit card application, the card issuer resorts to your personal data. As it is, you child?s name, address and some other information is accessible to potential creditors as early as at the age of 16 and then your kid can apply without your permission! What can you do? Protect your kid?s personal data or teach him about credit management before they can possible be offered a credit card.
Well, it?s more or less clear how you can protect your child from the creditors? attack. Now, let?s see how you should manage your credit card to make the most benefit for your purse and family budget.
Look into yourself and try to define what encourages you to apply for a credit card. It?s the lavish rewards and enormous incentives of a credit card offer that make you hunger for a credit card no matter if you can really afford it. Lowest APRs, no annual fees and no other charges make you feel comfortable at first but that?s where the trap lies. The credit card company can change the terms of your credit card deal without notification of that. Imagine how much you will overpay when the interest rate suddenly jumps?Credit consumers admit that this prerogative is the most irritating element in the credit card company?s policy.
Some more words on credit cards with rewards. Don?t give up to the persuasion that a reward credit card is best for your finances. Credit card applications for rewards are usually followed by unreasonable interest rates and too high an annual fee. Thus before you apply, analyze the pros and cons of a reward credit card and make sure whether it really makes financial sense.
And the most important point for your consideration is your creditor?s encouragement to spend as more as possible with your credit card and thus ? exceed your credit limit. This practice is designed to bump your interest rate to incredible extents.
You see now, that what whatever a credit company does, even if it represents its services as your pure profit, it still tries to make good at your expenses and it does, if you don?t know how to fight against their pitfalls?
Still want to apply? Learn about available credit educational centers and deal with your creditors on equal footing!