When I was young, “the plastic” was only popular in other countries and not yet here in the Philippines. I can still remember it became so popular particularly in the USA of A because they always flashed this “plastic power” in almost all Hollywood movies that I watched.
Today, getting a credit is just like is just like filling out a job application. As long as you can
present the proper documents, you can easily get approved. Some are even pre-approved already specially for those who are current owner of other credit card companies or if you’re a depositor of a certain bank.
Most if not all the tips that I will list here are based on my personal experience.
1. Make a substantial research.
Don’t just grab the application form that you see in the mall or in a bank. The first place that you can get information is the Internet, if you are researching credit cards, for easy access and be able to compare each company providers and the credit card features they are offering.
The internet has a lot of information about many different credit cards, including their rates, fees, and incentives, so that you can find the best credit card for you.
2. Clear Your Credit History.
If you had a bad credit history, make sure to clear it first before applying for a credit card. Get a certification that you are already cleared and present this to the credit card company that you are applying for.
If your credit is bad, then it may be a little more difficult to get a credit card than if you have good credit. Do not give up, because there are hundreds of companies out there that offer credit cards for people with bad credit and if you shop around, you will find the credit card that is just right for you.
3. Read the Fine Print of the Terms and Agreements.
Fine print – these are usually written in a long paragraphs using small font. Tatamarin ka kung babasahin mo lahat ( you will get tired if you will read it everything). I think that’s the reason for that, so you won’t have to read it at all.
There are some credit card companies that say that they will give you a credit card with no credit check. However, keep in mind that having a credit card almost always means that you are going to go into debt. Be cautious when choosing the credit card for you.
Read the fine print of their terms and agreements to make sure that there are not going to be any surprises.
4. Check Your Income Before Applying.
And I mean it. Really check if you have the means to pay for your credit card, not only the minimum payment required but the whole amount when it’s due.
Analyze your financial situation to make sure that you can handle a credit card and its payments. Even the most cautious of us go on a little shopping excursion every now and then and you do not want to be thrown into a financial tailspin when your bill comes in.
5. Be Responsible to the Power Given to You.
Just like in the movie Spiderman,” With great power comes great responsibility”.
This is also true for a credit card holder. The power when to use your credit card is in your hands alone ( except when it’s stolen). You are responsible for whenever, wherever and whatever you credit card is used.
Cautiousness is very important in using your credit card. If you are not sure that you can handle a credit card, then rethink applying. You need to be sure that when the bill comes in that you can make the payments. If you are not completely sure, then don’t get a credit card until you are ready.
Having a credit card is not just showing to other people that you are “IN”. The only practical reason why you want to have a credit card is for convenience. No more, no less. Credit card is still a credit, and if you use it then it is your responsibility to pay for it.
The next time somebody handed you a credit card application, think twice. Review the tips that I’ve mentioned here as your guide if you will apply or not.
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great tip, i have one credit card and as of now no plan yet to have one its hard to maintain =)