Your first credit card may prove more of a hassle than most if you have to use cash, check or credit lines. But there is one exception to the credit card trap that you do not even have to dig through your parents expense bills to get the most out of your first intro credit card. If you are planning on applying for a major credit card, read on to learn how to get the lowest APR.
The APR is the fixed rate that when the initial due date is not met the bill goes into credit card debt. Therefore, it is crucial to save the APR before you put any hefty bills in the mail. If you are in debt now, you might want to look at a secured credit card. If you can get hold of a secured credit card, the interest rates will reduce. However, a secured card is not usually approved by the lender. Additionally, it does not have the best credit history, so you might want to look for a credit card with the best credit terms and higher interest rates.
To put all of this in perspective, if you are applying for a home loan, mortgage, insurance, or if you finance an investment or car loan, you might want to take a second mortgage loan, car loan or credit card and invest it in stocks or bonds. Although you might choose a second credit card with lower interest rates and lower origination fees, you will also get the best of the lender.
In order to make that choice, you have to take a thorough look at all of the fees that may come with the credit card. These fees will take an entire month to resolve if you do not qualify for sub prime rates or higher rates of interest. The most significant thing to remember is the APR – or the annual percentage rate. This is the interest charged on goods or services that you paid for. A typical interest rate is 3.99%, 6.15%, 7.19% and so on.
Generally, interest rates are not as steep for sub prime credit cards. And there are loans that are much less steep and this may tell you whether or not you need a higher APR.
There is one exception to the credit card trap. For those who make it a point to always use the interest free period for redeeming the cash and you are usually going to be saving big dollars on interest charges. This may be where you get another interest free credit card, or a fixed interest rate card, or maybe a lower interest free credit card, and the other credit card you are looking at has a lowered interest rate at the end of that time.
Of course in order to prevent this kind of credit card trap from happening again, you are only going to have to take a second look at the fees that come with the other cards.
Tips for Quick and Easy Approval for a New Credit Report
The website www.MakeItGreatwithCredit.com has been designed to help consumers get instant and accurate approvals for their new credit reports.
The three major credit reference companies provide individuals with their credit reports for free. By making a request with the company, you are helping to make sure they approve your application. Be sure to read all information that comes with your credit report to learn the information they contain and where it leads.
Step 1 – Read the entire credit report
The Credit Reporting Act mandates that all of the consumer’s credit files be free from any unauthorized disclosure. This includes incomplete or inaccurate information. To order your free report, complete this form.
How is your report made aware of inaccurate or incomplete information? If you discover that an item in an information charge report is inaccurate, you have one hour to put that item in the reporting company’s file to receive it corrected. If you request your credit report, you have one hour to respond to the corrected charge files.
Make a phone call.
Once you receive the call, complete and mail your letter to confirm that the credit reporting agency has received your letter and forwarded it to the reporting company. You also have the opportunity to present your copy of your credit report to the reporting company for inspection. Generally, credit reports should be completed and sent out promptly. You will want to make sure that the reporting company takes the time to check your credit file.
If you have negative information in a credit report, your credit report should not be included in that report. In addition, you have not shown that you have filed bankruptcy. If you have filed a medical debt, your credit report should not be included. This information is currently included under the collection rights trade name “