Morgan Hamilton asked:




Do you recall when we used to get a seemingly endless supply of credit card solicitations stuffed into our mailboxes? That certainly wasn’t a very efficient way to compare offers. And sending a completed application through the mail with your personal information on it was anything but safe and secure. Fortunately, today we can apply online for a credit card.

Applying over the Internet is infinitely more secure than sending your information through the mail. With encryption technology it is virtually impossible for would-be criminals to get a hold of your information in order to commit identity theft. On the other hand, how hard is it to steal an envelope and open it up? And it happened, quite a few more times than we ever realized.

Every major bank and financial institution that issues cards has a presence on the Internet. This makes it incredibly easy to compare offers and familiarize ourselves with the terms and conditions allow the features and benefits of each. It is so much easier to flip through websites on the Internet than to comb through paper applications wouldn’t you agree? And many more than the issuer’s ever wanted us to know.

Some important things that I would be remiss in not pointing out to you when it comes time to apply online for a credit card include the following:

Interest Rates Annual Fees Rewards Programs Credit Limits Length of Grace Period Late Fees

And it almost pains me to say this but it is also necessary to read the fine print. Yes, I realize it is about as exciting as watching paint dry but with credit card reform now being passed into law the banks and financial institutions are getting rather clever in finding new ways to extract money from their cardholders.

Many times the methods they use to do this are buried in the fine print. Stay one step ahead of them and conduct your due diligence by carefully understanding what all the terms and conditions of the offer are before you apply online for a credit card. It is also advised that you read any information that is sent to you via e-mail or by way of a traditional post office regarding your account.

It is rather unfortunate but far too many people suddenly become surprised by fees and interest rates long after they have already owned their cards. And when it comes to surprises and credit cards… well, they can be quite expensive.

Francisco

Carrie Reeder asked:




If you’re a college student, you know how expensive books, movies and tuition can be. And if you only work during the summer break, you may be looking for a way to stretch your funds through the cold winter months. Fortunately, a student credit card can help. Find one with low interest and good terms, and you can charge during the lean times and then pay it off when you’re making money on your summer job. To get a student credit card, follow these guidelines:

1. Find some cards for comparison.

It’s easier than you think. Credit card companies often set up tables and booths at college fairs. You may even find fliers or applications around campus. And you can always find a student credit card with an online search. Be sure that the cards you’re considering are specifically student cards. Credit cards aimed at students tend to have more lenient credit score and credit history criteria, and they also tend to have lower interest rates.

2. Pick the one with the best terms.

Not all credit cards are created equal! Since your student credit card is probably your first, educate yourself a bit about the terms and jargon you’ll encounter. Choose one with a low interest rate, since that’s the “extra” amount your credit card will tack onto your balance each month. Look for one with a longer grace period, too, which is the amount of time you have to make a payment before interest begins accruing. Other things you should look for is a card with no annual fee and a low late payment fee.

3. Apply!

Simply fill out the application–either on paper, online or on the phone–and answer the questions on the form. You’ll need to reveal all the basics, like your name, current address and phone number. You’ll also need to provide them with a “permanent” address and phone number. The application will include lines for information about your school, your school’s address, your enrollment status and your year of graduation. It’s possible they’ll ask about your bank accounts and employment.

If you’re currently employed or have significant savings in the bank, chances are your line of credit–the maximum balance you can hold on your card–will be higher. But even if you only have a summer job, you should still be able to qualify for $500 – $1,000 in credit.

Thelma

Jacie Caballero asked:


It is so common these days for people to fill out an online credit card application, that most people do not think twice about providing their personal information over the internet. But applying for a credit card is serious business. You could get into trouble by offering incorrect or incomplete information. And worse, you could sign up for what you think is a low apr credit card and end up being charged exorbitant interest with no recourse.

When you go online to check out credit card offers, you will find a myriad of deals to choose from. Narrow your search terms down to criteria that is important to you, such as low interest, introductory interest free period, long grace period, reward program, airline mile rewards, or cash back credit cards. When you find an offer that meets your needs, you should be able to fill out the online credit card application right away. However, before you proceed, there are some things to keep in mind.

Be sure to read all the fine print. Unfortunately, some companies will not make this easy for you. Most online forms, just like standard applications, have the details of limitations or increasing rates in fine print at the bottom of the form. However, you may have to manually click a link to view these restrictions. Look for a link to a section titled Terms and Conditions for all the details of the offer. It is vital that you take the time to do this before filling out your application. If you do not read the restrictions of a card agreement and you sign the agreement anyway, you will still be held liable for any violation of that agreement. Remember that an online credit card application is a legal document that gives your approval for the company to check your credit.

After you read all the terms, it is a good idea to print out a copy of the information, as well as a copy of the online credit card application before you submit it. Keeping these types of records now can protect you later.



ROBERT

Copper asked:


I have an online credit card account (at, let’s say Chase), and I have a $600 credit card statement, and I have three weeks to pay it off. If I pay $150 right away and $450 a week after the statement date, will they report a late $450 payment to the bureaus or will I be all paid off as long as I pay the statement balance before the grace period ends?

KEN