The Dos and Don’ts in Shopping and Applying for Credit Cards
Don’t sign up for the first program you will find. Keep in mind that settling for the first offer you will receive actually slims down your chances of scoring an affordable credit card program. So why not take your time shopping and comparing the credit card programs available in the market? Ask for brochures or pamphlets from nearby card issuers and pay close attention to the features and facilities that come with each line of credit. Better yet, visit credit card comparison sites, where you can conveniently compare the interest rates, credit limits, payment terms and options as well as the eligibility requirements imposed on several card programs. We believe that by employing these steps, you can improve your chances of ending up with a credit card that matches your needs, preferences, spending habits, and most importantly, your budget.
o run background checks on your prospective card issuers. Take the time to research on the history or background of your target credit card companies. Take a close look at their history, track record in terms of dealing with bad credit consumers, like you, and their accreditation with the federal or state government. Always remember that these factors are excellent indicators of the legitimacy of your prospective card issuers. We also suggest that you consider what the former or current clients of each ďŹ rm are saying about the products and services they provide to prospective cardholders, such as yourself. After all, their reactions and comments often speak volumes about the credibility of the company you wish to do business with.
Don’t ďŹ xate on the interest rate. Always remember that the rate of interest is just one of the many features of guaranteed approval store credit cards. So, it is never wise to use it as the sole basis in deciding whether or not to sign up for a bad credit card program. Instead, try to focus also on the credit limit, payment arrangements, fees and charges, usage restrictions, and application requirements that come with each program. Bear in mind that this will help boost your likelihood of taking out a credit card program that will most deďŹ nitely work to your advantage.
Do read and examine the fine print of your credit card, before signing your contract. Examine very closely the terms and conditions that apply to various bad credit cards. And once you’ve chosen a specific program, find time to read your contract several times. After all, this will help you get familiarized with the stipulations of your line of credit. At the same time, it can assist you in identifying clauses and terms which are not very clear to you. This way, you can immediately request for additional information from the customer service representative of your chosen bank or card issuer. And this can in turn help you make a well-informed decision whether to sign up for the program you wish to take out or to continue searching for better or more affordable credit card deals.