There are many sources where you can file a first time credit card application. These include banks, credit companies and other agencies. The Internet is the easiest way to locate your preferred credit card company.
When applying for a credit card, most companies need information such as name, age, address, social security number, any former address of yours, occupation, employer, and annual household income. These details are adequate for the credit company to verify your credit history, which is the major criterion for approval or rejection. Annual percentage rate (APR) often varies with your credit score. That is, a high score will get you a low APR.
Most first credit card application forms contain certain clauses written in fine print. Company salesmen are often outspoken about the advantages of their transactions. But these fine prints often carry conditions that are disadvantageous to you. One important thing to check is the APR. Most credit companies tempt you with a low initial APR score. Remember that it is the long term APR you should weigh most, not the short term.
A US citizen who is 18 years of age or older (the limit is lower in some states) has the legal right to demand a credit card with any US bank. Generally, credit card providers do not want a bank account to get a card. It is also possible to request many credit cards at a time. But multiple applications can affect the credit score negatively.
With great competition existing in the credit card market, most credit card providers look for an easy means to attract new businesses. They provide special gifts on many occasions such as Christmas and holiday shopping seasons.
Now that the holidays have ended, many of us are looking for ways to save some money on those holiday purchases we may have spent a little or a lot extra on and those few extra pounds we gained. However, we can only provide help in the area of saving you money, you’ll have to consult someone else for those few extra pounds. If you weren’t able to pay off your credit card balances right away from the holidays or have some outstanding balances from before the holidays, then consider a balance transfer credit card. A balance transfer credit card can help you save money on your current balances that may be accruing interest.
To help you save more of your hard earned money, here is a list of the best balance transfer credit cards on our website.
1) GM Flexible Earnings Card – With this card, you get a 0% APR for 12 months on up to two balance transfer requests made at the time of your application. Transfer fees of 3% do apply to the balance(s) transferred with a $10 minimum and a $99 maximum. There is no annual fee with the card and new purchases earn 1% cash back or 3% toward an eligible new GM vehicle.
2) Citi Diamond Preferred Card – This card isn’t just named a preferred credit card. This card offers a 0% APR on balance transfers for 6 or 12 months depending on a review of your credit application. The introductory APR and period also apply to new purchases you make. Citi does charge a 3% balance transfer fee on each of the balances transferred with a $5 minimum. The card has no annual fee and a very competitive interest rate after the introductory period.
3) Blue from American Express – No more feeling blue about high interest rate balances when you apply because you can get a 4.99% fixed APR for the life of the balance! A 3% balance transfer fee applies to each balance transferred and transfer fees are capped with a $5 minimum and a $99 maximum. All your new purchases receive 0% APR for up to 15 months and no annual fee.
4) Chase Platinum Visa Card – This card from Chase will let you transfer balances and receive 0% APR for up to 12 months. The introductory APR and period is also available on all purchases. All balance transfers are assessed a 3% fee with a $5 minimum and a $75 maximum. There is not annual fee to use this card.
5) Bank of America WorldPoints Platinum Plus MasterCard – This versatile card from Bank of America almost does it all; 0% APR balance transfers for 12 months, a very competitive APR on purchases and one of the most comprehensive reward programs available. Transfers are charged 3% of the balance or a minimum of $10. Bank of America does not charge an annual fee on this card. For those with large balances to transfer, Bank of America is generally considered to be the most generous with credit limit amounts.
For more information on each of these cards, please click on their corresponding links for access to further information and a secure online application.