The proliferation of credit cards can be attributed to a lot of things, as a matter of fact; most Americans own more than one credit card. Its convenience of use, fast and easy application has produced more credit card owners in our society compared to the previous generation.
Having websites that offer online applications for best credit card online purchases, have also been great swaying factors in making more Americans think about getting a credit card. And why not?
This innovation in credit card marketing has made the process much easier. Now you don’t even have to leave the comforts of your own home.
Easy To Apply For
All you need to have is a computer, an internet connection, your personal information (like your credit rating or credit score, which incidentally you can get online as well) and a little time and effort to find the website which could allow a safe and easy method on how to apply for a credit card online.
The first step is to find a credible website which you can trust your personal information. What you can do is to try looking one from a search engine such as MSN, Google or Yahoo.
Make sure that their site features secure SSL Technology protection. You can also try to call them and asking them about their security and their track record. Then if you are convinced that they are a legitimate site, you can try to look at what they are offering.
Browse their website and make sure that they offer all of the major credit cards available today.
The Lowest Interest Is Not Always Te Best
Search for the type of credit card that you want, if you’re not sure what suits you, try to read some of the articles and descriptions the site has for them, good credit card application websites have these feature to help potential clients.
The second step is to compare all the cards that are available in the site. With so much competition nowadays between these credit card companies, each and every one of them tries to outdo each other by offering lower interest rates and with lots of other credit card offers.
Many of these offers include zero percent APR’s, low fixed interest rates, cash backs, zero liability in unauthorized purchases, no annual fees, low interest rates for balance transfers, and lots of others.
Make sure you understand what the promos are about and see if they last for a definite or a variable time frame. Sometimes the lowest interest rates may not be the best idea, they may only last for 6 months then the rates may go soaring.
The last step is the actual application. After ensuring that you are satisfied with what you have learned in steps 1 and 2, you can proceed to step three, which is the easiest part. All you need to do is to provide all the information that’s being asked for.
This will include your name, your address, your income, your employment and business, your credit rating, whether you have been bankrupt and a lot of others. Upon completion, all you have to do is submit the application, which is done automatically on the site. Then all you need to do is to wait.
Although the application is very easy, the approval is the hard part. Not everyone gets easily approved, especially for the great deals.
People with great credit reports are usually the ones who gets approved easily and in no time at all because the establishments or credit card companies know that they are good payers.
Advantages of 0% APR Credit Cards
When it comes to 0% APR credit cards, you may be wondering how you can take full advantage of these offers. There are many f them out there, actually. The ability to offer this service is usually something of a ploy though.
To get you into their card products, card issuers may offer 0% APR abilities as an introductory. Yet, even if this is only an introductory offer, you can still find these benefits to be rather rewarding.
If you take a few minute to consider what is out there, you may see that you qualify and can benefit from these 0 interest credit cards.
What Are They?
The first thing for you to do is to understand what 0% APR credit cards actually are. Having this card will allow you to use credit without any interest accumulating on the amount that you have borrowed.
Any fees including annual fees will still apply, but this amount of money is not something that you have to worry about having a 25% interest rate charge on top of, at least, not at first.
The 0% APR credit card is offered strictly as an introductory rate. It is never offered for the life of the card or even for an extended amount of time beyond say, 12 months.
You will most certainly have this 0% interest for just a limited time. Sometimes it is just a few months, other times it can be as long 15 months for some of the longer, extended introductory APR offers.
The goal that you should have is to take full advantage of this offer within the timeframe of the introductory offer and consider how it can benefit you.
First off, you should look very closely at the particulars of each 0% APR credit cards offer that you are considering. Ask yourself the following questions:
* How long does the card offer keep this introductory rate?
* What is the ongoing APR after that introductory period is over?
* Is this an APR that you can live with, especially if you are a cardholder that tends to carry large card balances?
* Are there other fees that you should take into consideration, such as an annual fee?
* How well does this compare to your current credit cards?
* How well does it compare overall to the other offers you are considering?
Is A 0% Introductory Rate A Benefit?
Since all credit card offers are a bit different, make sure you read the details before you just accept any offer out there.
Your benefits come in when you can take what is being offered to you, in this case a 0% APR credit card, and use it to your advantage to save money, and in some instances, a lot of money.
Let’s say that you currently have a credit card that you have a 25% APR on, which is considered anything but cheap.
Now, you are looking to find a way to lower the amount but the lender won’t offer a drop in the APR (you should always call and ask for your current lender to lower your APR!)
One thing that you should also do is determine if your 0% APR credit card offer applies to purchase, balance transfers or both.
If the introductory rate only applies to balance transfers, you should move your outstanding balances to the new account, and ultimately pay it off before the introductory period ends.
If the introductory APR applies only to new purchases, you should use this new card strictly for all new purchases while continuing to pay down the balances on your higher APR cards.
And if the 0% introductory APR applies to both purchases and balance transfers, you should centralize all of your card activity around this card for the entirety of the introductory period.
The key to any of these credit card strategies is an aggressive card balance repayment plan that minimizes the compounding effect of high APR finance charges.
If you let your card balances continue to roll over, you are likely to end up paying just as much, if not much more, on the credit card anyway. Yet, those six months or more of no interest can be a true blessing to those that pay down their balances aggressively within the timeframe of the introductory period.