Photo courtesy of Mene Tekel
More and more people are applying for credit cards without knowing much about them. Don’t fall for the first offer you see. Especially, pass right by those stores that have “apply for credit card” signs boldly displayed in the window. You’ll be so glad you did.
If you do go into a store that has one of these “apply for credit card” signs or advertisements, you’ll be hounded with sales pitches until you either run out or you give in and apply for the store credit card. In fact, many stores will even give you a 10 or 15% discount on your first purchase with the card.
Even if you want to go to that store with the “apply for credit card” in the window, there are many advantages to resisting, even if you don’t see them right away. Here are two of the best ones: You won”t go into debt by using a credit card that you don’t need. You will also have one less item on your credit report – so you have one less thing to worry about!
If you simply must apply for that store credit card, it’s very important to research the card first. Find out everything you can about their card and how it works:
- The interest rate (APR)
- Annual or monthly fees
- Late fees
- Over the credit limit fees
One way to inform yourself about any credit card is by getting a credit card guide which will tell you everything you need to about credit cards before you apply for one.
You should definitely compare several credit cards before applying for a credit card. Find out which company offers the best deal and which most closely fits your particular needs. You can find out a lot of the information you need to compare credit cards from the websites of the individual credit card companies. Make a chart or print it out and do a side-by-side comparison of the various features and costs.
If you’re absolutely sure that you want to apply for this credit card after doing all the research and careful consideration, then it’s easy to proceed. You just have to fill out the application and hope for the best. Be sure to read the fine print before signing the application.
The next part is a little more challenging: You have to use the card responsibly for your own benefit and not let it get you into the trouble of overwhelming credit card debt! Remember you have the card to serve you and not to give money to the credit card company.
