Key Notes - Credit Card Application

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Key Notes - Credit Card Application
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• Credit card is one of the reliable most systems
  for payment today. Online or offline shopping can
  be facilitated with the use of the plastic money
  and so is trusted countless shoppers. Banks and
  many private companies are involved in
  merchandising the business of this kind of
  plastic money. Hence if you want to have a card
  in your wallet, you should apply for it to one of
  the banks or companies of your choice.
• However, in the process of application, there are
  many things that a person has to follow to apply
  for the card systematically. The article points
  out some key highlights in this regard to
  enlighten you regarding credit card application.

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During the application time, first of all, the
applicants should understand contents of it. That
means, you should read the contents of the
application carefully. Secondly, you should
provide all the information asked in the
application form correctly and aptly.
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• You should understand that many application forms
  are rejected on the ground of misinformation
  provided by the applicants. Therefore, you should
  avoid supplying incorrect information in your
  application form.
• Once the application form is verified and
  approved by the bank, you are allowed to have
  preferred card. However the credit limit on your
  card is set by the bank followed by determination
  of your net income, credit score and other
  important factors associated with the card.
• Generally the credit limit involves time period
  of 25-55 days, depending upon the type of card
  and bank you have chosen. If your credit history
  is good and impressive, you can also request for
  the card with more grace period. Even the banks
  consider request of such applicants seriously.

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• Once the card comes in your hand, you don't only
  receive a card but also responsibility of on-time
  payment of the credit card bills that you might
  incur out of the use. If you pay the bills
  constantly and regularly within the grace period,
  there will be no interest rate on your payment.
• However, failure on timely payment breeds reason
  for late payment with certain interest rate on
  it. Hence, you should maintain a contemplative
  care regarding timely payment of the bills to
  fend off late payment penalty.
• People also go for the credit card with lowest
  APR so as to reap maximum benefit and save money
  on interest rate. If you encounter such offer
  before application, you should make sure whether
  the offer is compatible to your needs and
  budgetary affordability.

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• In addition, plastic credit comes with a
  responsibility of charges. Hence, you should
  ensure whether or not your current income can
  sustain that charges.

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Source http//www.sooperarticles.com/finance-arti
cles/credit-articles/key-notes-credit-card-applica
tion-945204.html
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