There are not a lot of things that you can do these days with no a credit card in your wallet. For those who dont have credit cards what are they to do? The only option that they have if they are going to make purchases that require a credit card is to apply for one.
There are a couple of reasons that a person might want a credit card. They are to establish a credit history or rebuild a damaged credit score. Your credit history one of the most important things in your financial life and you should do everything in your power to keep your score high. Everything you purchase in life will depend on your credit score. Your dream car may just be a dream unless you protect your score.
The best way to protect your credit score when dealing with credit cards is to monitor you spending. There is a way you can get an 0% APR credit card and that is to pay in full your charges when you get your credit card bill. By doing this your statement is paid off before your credit card company can add interest charges. Credit card companies count on you not manage to pay your bill in full.
Credit cards can be a good thing when used in proper way. However, when you get a credit card and go on a shopping indulge, that credit card can be your worse nightmare. You will be charged for everything on your bill if your payment is even one day late. The only way you can have a credit card and not get into trouble is to pay it off every month and only use it wisely. Don’t borrow money for the long term – this is the way to disaster!
You can fill out a credit card application pretty much any time. If you go online you can find credit card sites that allow you see several different credit cards right away and apply for as many as you want. The process is very simple and quick and most of the time you get an instant response if you get approved or denied.
There are several reasons that a person can be denied for a credit card. If your credit score is too low you can’t get a credit card because the credit card companies are scared you just won’t pay your bill and they will loose money on you. Another known reason of rejection is applying for a wrong card. For example, you are in college and applying for a business card. You will get rejected because you don’t meet specific criteria for any particular card, so be attentive while choosing.
Credit cards are useful to have when you are shopping online or renting a car. The most important thing in having a credit card is being responsible. You have to monitor your spending and not let your wants get in your way. Then you will have credit card problems that will take you a lifetime to get out of.
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