There are many credit cards being offered on the market today, thus makes it such that companies have to be more aggressive in advertising and marketing their services. These companies (e.g. banks, department stores, specialty stores, airlines, hotels, etc.) have found a powerful tool in catching the attention of prospective card holders: online applications.
What advantage/s does online application offer?
The bottom line of online credit card application is convenience. This is a dream-come-true to future card holders. Imagine not having to queue in long lines just to have application approved. Also there are no travel cost just to get to the card company's office. Since everything is computerized and automated, processing of the application is faster and more efficient.
What is/are the drawback/s?
The major drawback in applying online is internet security: computer hacking makes identity theft possible. Make sure that online application is done through a trusted and secure computer.
Are there additional benefits?
No, basically all the services and benefits are the same. Here are some of the benefits given to card holders and future members:
1.airline miles 2.cash back 3.business 4.retail 5.shopping 6.rewards
How do I apply?
Completing an application is a really straightforward process. Just follow the directions as prompted. Credit card companies have their respective web sites which are easy to search in the web. Just type the name of the bank, department store/specialty shop, or airlines into your favorite search engine and you will quickly find the company's website from which you can apply.
Here are some other reminders when applying:
1. Determine your need for the card: travel, grocery, business. 2. Assess your earning capacity and compare this against your needs. 3. Look around the web for what best matches your needs. 4. Check out the company first including: 5. Application fee. Some companies do not charge for applications. 6. Interest per month. Of course, choose the one with the lowest financial charges. 7. Benefits/Rewards/Advantages. These can sometimes spell the difference between good and better plans. 8. Disclaimer. This states additional limitations and/or scope of the agreement make sure you read this. 9. Application requirements. This is to ensure that all necessary personal data and information are available to you when you do the actual online application.
10. Always use a secure, trusted, and private computer, never in a public computer.
Since there are so many companies competing for your business there are many different credit card packages. The fees and incentives can vary greatly between the different plans so you will want to shop around using the steps above to find the best card for your needs.
The advantages of having a credit card are: 1. Security, since one does not have to carry a large amount of cash to purchase certain items. 2. Convenience. In case one has to purchase an item that is immediately needed (and is out of cash), these can be purchased using a credit card 3. Cash advances. Purchases that require cash payments may still be accommodated by the credit card through the cash advance feature. This works like a regular ATM transaction (with of course a corresponding interest rate)
Disadvantages 1. Interest rate. Unlike purchasing with cash, credit card charges come with a corresponding interest (unless paid before the due date). The consumer should be aware of the various interest rates offered by the different credit card companies. One has to choose the mode of payment (plus the interest rate) that would best suit his or her capacity to pay.
2. Overuse. A consumer tends to purchase items that are not really needed or included in their budget if they have a credit card that is ready to use.
3. Annual fees. Whether one chooses to use his or her card, after activation, annual fees will be charged. 4. Other charges. A delay in the payment during one billing period would incur you additional charges.
Credit card online approval usually is far easier than manual applications that require various forms to be completed before it can be processed. The company likewise is more likely to receive your application on a shorter period of time as compared to snail-mailing your forms.
For a faster credit card online approval, take into consideration the following:
1. Do not leave any unanswered line, especially those marked with a red asterisk.
2. After completion of the online application, immediately send either through email or facsimile the additional requirements needed.
3. Take into consideration that credit card companies prioritize applications of the following group of people: - married couples
- persons with a mortgaged house or car
- persons with several dependents
4. Choose credit card companies that have a promotional offer in the application process, chances are, promos are offered due to low application rate, thus prioritization your entry is a sure shot.
The logic here is that the more obligations an applicant has, the more they are likely to use the credit card, which equivalents to higher earnings (through interest charges) on their part.
Both Sam Smith & Ken Charnly are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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