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have a valid social security numberThe advantage of using a secured credit card is that you have set your own credit limit. Why have a Credit Card at all? Others offer a higher credit line, but only after you pay weekly, monthly, and activation fees, and require those fees to be paid out of the original credit limit. If you apply on line, and your application is accepted, you can use your new low interest credit card to make online purchases.
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Western Union began issuing charge cards to its frequent customers in 1914. When paying your credit card bills you should use the envelopes that the credit card company sends you when paying your bills. Consolidate Your Credit Card Debt and Ease a HeadacheCredit card bills are really tough to pay off; once you have more than one card with a balance it can be very difficult to keep up with the payments.
To apply for a credit card is not more difficult than applying for a bank account, a driver's license or a social security card. However, it is always better to be prepared as many companies send unsolicited pre-approved applications through the mail and most often have hidden charges nestled in the fine print.
Pre-Approval
Most pre-approval mailings request a signature and a statement of recent earnings. It sounds pretty straightforward, but the words "subject to credit approval" are always hidden somewhere. While it is tempting to simply sign away, or make up an amount under the "earnings" title, this information will haunt you down the road when you are unable to pay your bills. No one wants a fraud or perjury charge in addition to other trouble that might come with it.
If it Sounds too Good to be True, it is
If you have been pre-approved despite not having worked for a few months or your gross income is less than ,000, you really should think twice before attempting to apply for a credit card. You should certainly not have been pre-approved. If you know you probably will not qualify for the credit, do not apply for a credit card.
Standard Application Process
Most people apply for a credit card through solicitations in magazines or sign-up booths at public events, without realizing that they can apply for a credit card at their own bank. Not only do banks have relatively reasonable fees and interest rates, their customers already have a track record and business relationship established.
Denied for Lack of Credit
If you are denied a credit card, the letter you receive will tell you why. If the denial was based on lack of credit, that is frustrating but understandable. In that case, you can either hope that when you apply for a credit card, someone will take a leap and offer you a line of credit. Or, if you can show just cause, you can contact the financial institution and discuss your situation. This is another good reason to apply for a credit card at your bank where you have a credit line (or at least an account) already established.
Denied for Bad Credit
If you are denied a credit card due to bad credit, the letter will give instructions on where to request a copy of your credit report. Once you review the report, you can take steps necessary to start repairing your credit. Keep in mind that filling out several applications for credit may itself look suspicious, and many companies will deny a credit line when they find that several applications have been processed or reviewed in the recent past.