Credit Card Application

Morgan Hamilton asked:




A balance transfer credit card application doesn’t always tell the whole story, unless you read it carefully. People looking to transfer balances are either looking to save money on their current high interest charges or are trying to consolidate their existing debt.

In many cases they can accomplish both of theses goals at the same time. There are, to be sure, many advantages to paying off the current balances you have. Some cardholders are paying 25% or more on their respective cards. That is, for lack of a better word, insane.

You can suffer from vertigo looking at those high APR fees. If you have a good credit rating then your options are many. All the major credit card companies offer balance transfer deals that can save you hundreds, if not thousands of dollars in interest payments.

Do a search on a secure web site such as Find-Cards-Now.com and you will see that banks like Chase Manhattan, Citibank and Bank of America offer some very attractive choices. They will even feature 0% APR balance transfer credit cards that compare favorably with each other.

Discover Card and American Express are also major players in the balance transfer market. They offer great financial incentives to switch credit card issuers. But you must understand that when you see zero percent interest offers they are always introductory offers.

They do not last for the life of the credit card. Credit card companies are not in the habit of lending money for free. These offers will run anywhere from 90 days to one full year. I have seen some that are good for 15 months. The Advanta Platinum Business Card is one such offer.

These introductory rates lead me right into my point about the “secrets” of the balance transfer credit card application. While we all know that the introductory rates will expire in time, many people do not factor in the fees charged by the various credit card companies.

There is no shortage of choices in finding cards with no annual fees, virtually all issuers will charge a fee on balance transfers. There really is no avoiding this charge. It usually runs around 3% and in many cases will be capped at $150.

Meaning that no matter how much you are transferring, you will not have to pay more than the allotted maximum. Using a credit card calculator will give a ballpark figure of what you will be paying in interest.

Simply factor in the transfer fee and you will get a pretty good idea on how much you are saving. Truth be told, there really are no balance transfer credit card application secrets. Read the terms carefully and you will know exactly what kind of savings to expect.

Joanne

Morgan Hamilton asked:




Getting approval for a student credit card application online has never been easier. Credit cards for college students are unique financial instruments in that they are basically designed to give credit to people with no credit history or meaningful employment. It pretty much flies in the face of everything that the credit card companies stand for.

But for banks and credit card issuers like Chase Manhattan and Discover Card, the upside is enormous in relation to the risk they take. For every student that defaults on their credit card debt, the credit card companies know that there will be many times that amount that will become long term customers. And long term customers in the credit card industry translates into big bucks.

The college campuses that blanket the United States have indeed become fertile hunting grounds for the card issuers. And when you think about it, it isn’t at all hard to figure out why. Our colleges represent the best and brightest young minds amongst us. And those bright young minds are going to be gainfully employed, hopefully, in the very near future.

When seeking a student credit card application online make sure you know the terms and conditions set forth in the offer. That means doing your homework to make sure you don’t get caught with any nasty (read expensive) surprises. Because students typically don’t have a credit history, the credit card companies will often charge higher interest rates.

They do this in part to mitigate their risk, but they also do it because they can get away with it. They know full well that your choices are limited because of your current financial situation. In short, they got you by the short and curlies and if you let them, they will pull. So don’t let them. Your college student credit card should be a valued ally, not your nemesis.

Here’s how to make it work for you. Are you ready for it, this is real ground breaking stuff… do not charge more than you can afford to pay back and make sure you pay off your monthly bill in its entirety every month. Earth shattering, original advice isn’t it? Of course it isn’t, but if students would only follow these simple rules then paying high interest rates and accruing debt will not be an issue.

Not only that but you will also begin to establish that all important excellent credit rating, that by the time you graduate and apply for an auto loan and a mortgage, you will be oh so glad you have. Also, when you see on a student credit card application online that it has annual fees, look elsewhere at other offers. We don’t work for these credit cards, they work for us.

Randall