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What are Credit Cards?

Credit Cards is also known as plastic money, it is one of the most convenient ways of making payments while shopping and helps in maintaining records of all purchases made by us. The major advantage of plastic money/credit card is that you don’t have to carry cash and you can get rewards points on each purchase made. Only banks are permitted to issue credit cards. Carrying cash can be a little dangerous at times. Credit cards can be swiped at almost any establishment all over the globe. You can also withdraw cash on your credit card.

A Credit card today provides you with not only shopping convenience and safety, but also offers you privileges like discount coupons, invitations to events, bonus points, cash-back and a free insurance. But how do you select the right credit card with so many variants available and various offers and promotions, choosing a card can be very difficult. But mostly, it depends on how you plan to use your Credit card.

Tips for credit card application

When you are filling out a credit card application form, there are some tips you should know that may help you get accepted.

  • If you have a bad credit history, then it is unlikely that you can turn into your local bank and ask for a credit card.
  • The Internet is the best place to begin if you are looking for a credit card. There are millions of ways to collect information and to see what credit card will suit you best.
  • There are companies that claim that they will give you a credit card without looking at your credit history. But be warned that having a credit card can almost force you into debt. You should be careful when choosing a credit card; always check the small print of everything that you sign. And if you find something that doesn’t look right, then you can refuse to sign the form; or even better - bring your lawyer to look at it and he will give you all the advice that you need.
  • Before applying for a credit card, you must check your own finances and see whether you can handle a credit card. Most of the people are prone to go on a small shopping every now and then; and when the bill comes through, we panic and it can end up in a downward spiral if we are not careful.
  • Credit cards are items that should be handled with care; if you think that you can't handle a credit card, then DON’T apply. You need to be completely sure that you can handle the bill every time it arrives in your mailbox. If you are not ready for this responsibility, then refuse credit card offers.
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