Credit Card Application

Marissa asked:


Here’s the deal.

I had just turned 18 and sent in at least 7 applications for credit cards before knowing it was bad for credit.

One time I went over my credit limit on one credit card and paid the fee and never had it happen again. (this was my 3rd month of owning the card).

I had 3 credit cards from major companies to begin with and got rid of one after problems with the company (Capital One) an my dad has me as an authorized user on his Shell Gas Card. I was an authorized user on my moms Old Navy Card.

Will keeping my balances low, paying everything on time. (I’ve never once been late), help repair everything in the long run, down the road at least 4 years when I need to get an apartment, auto loans, etc?
I’m still 18…just a few months older and hopefully a bit wiser
The reason I am closing one of the credit cards is that Capital One has been charging me for a service I do not use and upon further research have read that Capital One does not report my credit limit to the credit bureaus so it looks bad and negatively impacts my credit. I was thinking Im better off getting rid of it early before more damage is done.

ROMAN

Distance5473458 asked:

Looking for a personal credit card? Visa credit cards offer the best value, security and convenience for your money For additional information about Annual Percentage Rates (APRs), fees, and other costs, see the Summary of Credit Terms.Find Credit Cards with the Lowest APR Possible and Compare…

Lonnie

Joseph Kenny asked:


Although they can be painful at times, life today without the ease of a credit card is no longer a reality. So, if you think you want a credit card, here are some essential factors you’ll need to consider when applying for a credit card:

Your Credit History

One of the most essential elements to applying for a credit card is what you current credit history is.

* If you have a bad credit history, then it is going to be much harder applying for a credit card.

* If you have a good credit history, then it is going to be much easier applying for a credit card.

* If you have no credit history, then you may well need to create a credit history, by having a loan or hire-purchase agreement, before you can apply for a credit card.

If you’re in any doubt what your credit history may be, then you should apply for a copy of your credit history. You can do this by applying for a copy of your credit history from a credit reference agency – who may charge you a small sum for providing this to you.

Credit Card Limit

Having discovered that you have a good enough credit history to apply for a credit card, the next thing you need to do is to decide on how much of a credit line you want to apply for. Normally, what your income is will decided this – but sometime your savings can also be important.

Depending on what your income and savings are, you can then apply for a regular credit card, gold credit card, or platinum credit card.

Submitting Your Credit Card Application Form

You now need to go through the process of choosing which credit provider meets your needs. Once you have done this, you can then submit an application to that credit card company.

Once the credit card company you have applied to has reviewed your application form, they’ll either approve your application or ask you to comply with certain conditions. The type of conditions they may ask you to comply with include asking you to have some money on a deposit account with them.

Credit Card Application Is Refused

If your application for a credit card is refused, you must ask why. If you don’t, you’ll never know whether the application has been refused because you failed the credit rating test or because you completed the application form wrong!

If you failed the credit rating test, then you know you need to apply for a credit card with another credit card provider. However, if it is because you filled in the form wrong, you can still reapplying using a correctly completed application form. So don’t be shy to ask “why?” if the credit card provider tells you that you failed in your credit card application!



CARROLL

Loren Yadeski asked:


Using gas credit cards is one of the best ways to stretching your gas budget to a few more gallons. They offer great opportunities for gas savings and other rewards. Every time you pump gas, you earn rewards points, which can be accumulated and redeemed at the end of every billing period.

Rewards are often converted into cash backs that are credited to your existing cards or awarded in the form of checks or gas gift cards. This definitely spells boat loads of savings especially if you spend many miles on your car. And the best thing is, applying for gas credit cards is easy and more so if you have a good credit standing. If you apply online, you only have to fill up the application form which is broken down into the following requirements.

Personal information

The first part on the gas credit card application forms deals with personal information. Your personal information includes your complete name, address, SSN number, date of birth, e-mail address and mother’s maiden name. The SSN and mother’s maiden name requirement may cause to raise eyebrows, but these information are required to prove your identity. Card companies have to make sure they are issuing cards to real existing persons.

If you are worried about your personal information being used for unscrupulous activities. Don’t be; card companies are covered by privacy policies which are generally required by the government. Your personal information are kept under electronic and physical controls.

Employment information

Gas credit card companies will want to make sure that their applicants are capable of paying for their credit dues. So, information about your employment, such as employer, office address and number, are needed to enable them to confirm your employment status.

Financial information

Aside from the employment status, gas credit card companies will require that you provide them financial information such as your annual household income and bank account types. They may also want to know if you are currently paying any loans such as house mortgages. These information are needed to determine the amount of credit limit that you will be able to work around on.

After you click on the submit button, all you have to do is wait for your card. There is however a different story to persons with bad credit history or no credit history at all. There may be other requirements that will be required. These requirements may be tax payment forms or other certificates that will prove your employment status, address and ability to pay. But for those who have really bad credit history, some form of security or collateral may be required. You may need to pay a cash advance on the card. But with the current rapid gas increases, such requirements will be worth paying for. Gas prices continue to increase and there is no indication of a roll back. Using gas credit cards will definitely offer you big opportunities for saving and stretching your gas money.



MILTON

øº°DK°ºø asked:


I remember reading something about some privacy act that you can attach to your application and leave the SSN part blank.

What are my options?

GARY