Most likely on nearly all days when you check your mail, your box is swarming with offers and applications for credit cards. How do you know which companies are presenting you a good deal, and will not take over your wallet with excessive finance charges and hidden fees in the future?
If you complete an offer online, make sure the site is secure to guard your personal info. This is the fastest way to be approved and you usually have an answer within hours. When completing an offer over the phone, do not give out any personal info, such as your social security number to anyone that you did not apply for information from first.
If you obtain a pre-approved offer, your response is required simply to make sure that you are the individual that the offer was sent to, and not someone that happened to see it in your trash. Identity theft is a real problem and any offer you receive that you choose not to reply to should be destroyed before disposal.
These pre-approved offers are usually very short and take a small amount of time to finish. You can either confirm online, phone, or return the offer by regular mail. Offers are made to be very easy and hand.
Many credit card companies have excellent offers, such as 0% or very low interest for a limited period of time, such as six or twelve months. This is where reading the fine print comes in.
All credit card offers contain disclosures regarding what interest rates will be after the original promotional period is over, how it is figured, what annual fees if any are charged, late fees, and grace periods. Many of these offers are great, and if you do not have a huge amount of debt, this could be a fine way for you to pay off your existing cards in a short time.
Other confines also apply, relating balance transfers, cash advances, and offer expiration dates. Be sure to evaluate offers, read all of the fine print.
If you are looking to restore your credit, you will most likely have to pay more interest at first, but as your credit gets better, the interest rates will decrease as well. Shop around to make a informed decision, and stay away from bad credit card companies. You will without doubt end up paying more in the long run, which defeats the reason of why you applied for the card in the first place!