A credit card offer is a type of guaranteed loan to an individual or a large company that allows them to carry forward the cash they have. The credit card companies are most often the same bank, the credit card issuers are also the same companies. Basically, they offer you credit that can never be repaid if the borrower cannot afford to pay the outstanding amount. They are often even offering at pre-set interest rates lower loan conditions or no loan at all. But if your credit is really not up to your means, then you have a really hard time getting approved.
Many people can find themselves in this situation because their credit report contains lots of credit reports and they don’t know them at all. If they don’t know about them, then they’ll immediately make the very first move to get the credit card they want because no one can do anything about it and then find they need to see the credit report for the rest of their lives.
One of the best ways to be sure you have a legitimate credit card offer is to get a copy of your credit reports from time to time. You can check them for free and find out whether you have ever encountered a bad credit report in the past. If so, then you really don’t need a credit card to make payments because you can pay off the bills in full as you please. If you have a serious credit history then you will get through the credit card offer extremely well.
But before you go getting approved for any kind of credit card there are some simple rules you need to know about.
Firstly, the credit card issuer will normally only let you into their organization without any problems because you just need to present a valid credit report.
If you have a bad credit history then you need to start contacting other people and asking for credit and then if you feel that your credit rating has improved then you can actually apply for a different credit card that will issue you credit with lower credit limit.
This will allow you to pay off your bills in full without the extra fees that credit card companies impose and allow you to consolidate your debt just like you would with a savings account and get lower interest payments.
Credit Cards For College Students – Watch Out
Like other consumers, college students and young adults spend a great deal of time looking for credit cards. However, if you look into credit cards with certain conditions, you should be careful while making the purchase. Among other things, you should not take yourself for granted unless you demonstrate a high degree of savings in your saving or your paying off your credit card.
Many college students or high school students find that college-related products or services are sometimes the logical choice for credit cards because of its flexibility and financial benefits. However, this should not deter you from looking into credit cards that can be used without restrictions like so:
‘ Monthly Prepaid Balance Transfer – This card allows you to transfer payments to a new credit card and get the full interest free balance transfer amount without any annual fees. The annual fee for debt consolidation is usually $29 although there is a $15 cashback fee. After the introductory period is over, any additional balance from your current card will be paid off with a full 100-percent cashback. There is also a one-time $29 fee that does not apply to balance transfers.
‘ Balance Transfers – Transfer fees are generally $29-$35 but there is a $15 cashback facility. There is also a one-time $29 fee to both the credit card and the customer. There is also a $15 cashback fee to the customer if he or she makes a balance transfer within the introductory period when the credit card will be paying off the balance at the end of the month.
‘ Rewards – If you apply for a credit card, you generally should pay attention to the type of rewards credit card you apply for. One of these is, where you can pay for your purchases with the card even without points or cash back privileges, which is not at all a thing anymore. Cardholders can also get additional reward programs like cash back, which is like getting handed a card and saying, “I got anything else!”
But what about parents who, like many parents, use credit cards to pay for college expenses? A good question. The fact is that parents should be careful about investing in credit cards that are not geared to their children’s needs. Even if you are teaching your child to use credit cards as a means of teaching financial responsibility, having reward programs that are meant for your child and your spouse would limit their use of those rewards and might be seen as unfair in the eyes of the parents.