Applying for a credit card may be exciting, but you have to remember to choose wisely and carefully on which credit card you should choose.
Choosing a credit card can mean getting a lot of information, facts, and numbers – it’s much easier if you know what to look for and how it should be done properly. Here are the key points and what they mean.
Check the fees that you have to pay
Credit card application comes with a lot of fees. Compare the charges for late payments, exceeding your credit limit, and returned payments. See how to minimize the fees by asking the credit card company that you’re applying for.
Find out how much you have to pay per month
Use a credit card calculator so you’ll know how much you have to pay each month. Compare the charges for late payments, exceeding your credit limit and returned payments.
Take a look at the benefits
Each bank offers different benefits per type of card that they are offering. These benefits may look enticing and exciting, but ask yourself first: do you really need the benefits that they are offering? Maybe you just need the basic benefits, but not all that they are offering. Think before you opt for any of these. Are they worth your while?
Balance transfer
Check how the credit card will fair with balance transfers. Banks often offer special introductory interest rates for balance transfers. There might be added fees that you are not aware of and these can be quite dangerous.
How easy the application process will be
Some credit card companies take a long time before they can process your application. If you want something that’s fast and easy, then choose BDO credit card application. Here are its requirements:
- Must be 21 years old and above and not more than 70 years old.
- Must be a regular employee or self-employed for at least two years.
- Must have a mobile phone or a landline, for sake of contact.
- Lives near any BDO branch.
- Check your credit history
Before applying, it is worth checking your credit history with a credit reference agency. It’s because getting a credit card may affect your credit score in the long run. However, there are options available for all types of borrowers, so in this case you could opt for a credit builder card, specifically aimed at those with no or poor credit history, to boost up your score.
Credit card shopping
Once you are ready to apply, go to a comparison site in order to find the best deal before making a credit card application. This way you’ll be able to see the full range of different cards, and the pros and cons of each so you can make an informed decision.
Now that you are ready with your credit card application, remember these tips on how you can handle your credit card responsibly:
- Pay on time
- Minimize your purchases
- Pay your monthly dues.
Get out there and pay for a credit card today!