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Credit Card Applications » News » Other » What Credit Card Hides

What Credit Card Hides

March 20, 2007 | Updated on March 20, 2007
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The content is accurate at the time of publication and is subject to change.

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!

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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  • Larry
    With the Virgin / Barclaycard signature offer, there seems to be some consumer deception or maybe even outright fraud goin on.   I decided to jump on this offer..  read all the info on it..  was approved for their platinum card, paid the fee, then was only awarded 10,000 points instead of the advertised 20,000.   When i inquired about the less than advertised bonus points, Barclaycard claims only Signiture Visa cardmembers get the 20,000..  as a platinum cardholder, you don't qualify for that level of bonus, so you get 10k instead.   Well, in their current ongoing promotions, it states plain as day that....    Applicants approved for the Visa Signature or Platinum Card with $49 annual fee will receive 20,000 Bonus Points awarded to your Virgin America Rewards Account at the close of the first billing statement in which you make your first purchase or balance transfer (that is not returned or rescinded) and have paid the Annual Fee on the account (and such fee is not rescinded). They don't mention anything about a separate program for platinum cardholders..  However, trying to get someone to resolve this issue with either Virgin or Barclaycard seems to be rather impossible.. Seems to me they're simply drawing people in with the fraudulent offer, then simply saying, oh, we're sorry you don't qualify..  but thanks for signing up for our garbage credit card with insane fees..   
  • CreditLandCom
    Thank you for sharing your experience with us. We have reviewed this offer and you are correct, nowhere it is mentioned that 20,000 Bonus can become a 10,000 Bonus all of a sudden... We will mention this in our review of this card so others can make an informed decision. Another way to get Virgin miles is to get an American Express charge card: The Business Gold Rewards Card® now offers 50,000 Miles, though you do have to spend $5,000 in the first three months of card membership to get it. It also has $0 introductory annual fee for the first year, then $175. Premier Rewards Gold Card now offers 25,000 Miles, though you do have to spend $2,000 during your first three months of Card membership. It also has annual fee of $0 for the first year, then $175. While we do not know If any of these offers make sense to you, we are at least sure that you will get advertised bonus in full if you decide to get them... Conversion rates for Virgin America are: 100 Elevate Points = 200 Membership Rewards® Points All the best.
  • Deborah Ellsworth
     would very much like to start a new credit history  by making payments on time I would tohave a credit card that is NOT PREPAYID! I don't need a card with a high limit just something to start a new credit history. Thank You Deborah Ellsworth
  • Deborah Ellsworth
    I would very much like to start a new credit line to get back on track. I DO NOT WANT A PREPAID CARD!! This new credit card if I am approved does not have to hace a high limit just something for me to start over again and prove myself ThankYou. D Ellsworth
  • Miss Edna
    there is a huge problem with the RFIP chip: it is easily compromised. There are already 'readers' in the form of what looks like a cellphone in a case, that scans all the info in the chip by merely walking near a person -- this 'reader' penetrates leather, cloth, spandex, etc. The only thing it will NOT penetrate is METAL. Perhaps one has seen commercials touting metal credit card cases. Here is my hint for a free fix: cut a piece of aluminum foil or use the foil that is used to keep foods fresh, like coffee. Cut it so that when folded once, it forms a sleeve for your credit card. place the credit card in the sleeve, then place the sleeve in your wallet.
  • Robin Parks
    I am looking to apply for the AARP Visa signature card from Chase that offers $100 after spend $500 in first 3 months, no annual fee and 0% interest first year; I don't want to mail in offer because of having to write in Social security #. Can you direct me to the proper on-line site?
  • CreditLandCom
    The Chase bank cards are not currently available at, but you can consider applying for the Citi® Dividend Platinum Select® Visa® Card - $100 Cash Back. The cards has similar terms and cash back program.
  • Becky
    This is Becky Now what do I do just waqit for acard to come to me?
  • CreditLandCom
    Once you have applied, you should receive a letter within 10 business days letting you know if you were approved and when your card will arrive. If you did not receive any letter or notification from the issuer, you should contact them directly. Also, you should contact the issuer if you’ve been waiting for your credit card longer than 30 days. Since we are not a bank and don’t issue credit cards, we cannot give you any information about your application or credit card.
  • SavingStar
    Thank you for posting about SavingStar. Just to clarify one sentence in your article, we have over 5 million members (not 500). Thanks, Josh
  • CreditLandCom
    Sorry for the misprint. We’ve corrected the sentence. Thank you for noticing that.
  • Eric
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