Apply for credit cards online

How to apply for credit cards online
That pretty little black dress or that expensive shirt need not remain a dream – not if you apply for credit cards online. In situations where you’re strapped for cash, credit cards can help a great deal. ‘Buy now, pay later’ is the mantra credit cards follow. If you don’t wish to be restricted on purchasing because of insufficient cash, credit cards can help.

Applying online: The procedure
The process of applying for credit cards online is fairly simple.

The typical documents needed are:

proof of income by means of a salary slip
proof of employment which can consist of the offer letter and
proof of residence, which could include your driving license or phone bills

Apart from the above list, there are other factors that differentiate applying online from the more conventional means.

Online application may take more time: This is due to the fact that online application is still fairly nascent and therefore most companies do not possess the necessary bandwidth to process applications fast.
Fees charged: The amount of fees charged differ from company to company and usually is different for online applications. There may be additional charges involved when applying online.
Online applications can be restrictive: Many applications online do not allow you to take advantage of a higher credit limit or even things like having a credit card that doubles up as a debit card as well. These features may be offered through regular applications only.

Factors that help the application
Before taking the step to apply for credit cards online, there are certain things that can help in increasing the chances at getting the card such as:

Regular source of income: Usually salaried professionals will not face any problem as far as a steady stream of income goes. Monthly payment slips are sufficient as proof.
Amount of income: The credit limit of the card will be determined based on how much you actually earn in a month. The credit limit refers to the maximum amount on the card that you’re entitled to spend. If you exceed the credit limit you will be charged an over limit fee.
Credit history: Maintaining a good credit score goes in your favor when you apply for credit cards online. It also helps you in leveraging promotional schemes. Usually before being approved for any credit card, the company will do a thorough check on the credit history.

Common mistakes made while applying
Many times the prospect of getting a credit card is so enticing that people make many mistakes in the process. Here are some of the things you need to avoid:

Not doing your own research: Credit card companies are simply waiting to get your business. Therefore it is only natural there are plenty of good rates around. Do your own bit of research before zeroing in on any particular company.
Not reading the fine print: Banks are in business to make money. Therefore most promotional schemes and other ‘free’ marketing gimmicks always have a catch to them. Make sure you read the terms and conditions to see through all these schemes.
Not setting aside a budget: It is tempting to keep applying for credit cards and not realize you’re going overboard with expenses. Therefore try and maintain an estimate of how much you can afford each month and apply accordingly.
Not using the full name: While applying for a card online, many people forget to put in their middle name or will just put initials for a lengthy name etc. Do not do this as it can confuse you with someone else. It is always safer to spell out your complete name – middle name and all.

Applying for credit cards online can be an experience in itself so be sure to weigh all your options, fees etc. and then make an informed decision.

APPLY FOR A CREDIT CARD ONLINE NOW!

CREDIT CARD TYPES

Choosing the credit card that's best for your needs and situation starts with knowing what options are available to you. The following list details the most common credit cards available:

	Balance transfer credit cards - Balance transfers are a way of transferring outstanding balances from existing credit cards to another card that offers a lower interest rate. For example, if you your have a high annual percentage rate (APR) credit card with a significant outstanding balance, you can transfer the balance to another card with a lower rate or even one offer zero interest. Typically these cards offer low balance transfer rates for a specified period of time allowing you to save hundreds (or even thousands) of dollars in monthly interest charges.
	Low-interest credit cards - These cards offer a low introductory annual percentage rate (APR) for a promotional period, after which they can change to a higher rate or a fixed-rate. If you plan on making a large purchase, it's a good idea to pick up a low-interest credit card to take advantage of the savings on interest during the introductory period.
	Cash rebate credit cards - Cash rebate cards accumulate "points" for1 every purchase you make using the card. Most cash reward cards award a point based off 1% of the purchase total, excluding interest and finance charges. For example, if you make a purchase for $1,000 the credit card will award you with 10 points (or, $10.00). These cards are great for loyal customers who make payments on-time every month.
	Reward credit cards - Reward credit cards are similar to cash rebate credit cards, but differ in that they offer various forms of "rewards" for the purchases you make. For example, you can accumulate rewards for frequent-flyer-miles, free magazine subscriptions, and even hotel and travel discounts. Ideal for those who enjoy getting something for free from their credit cards.
	Travel credit cards - Travel credit cards are ideal for the frequent flyer who travels the globe on a frequent basis. These cards accumulate significant reward points every time you make a travel-related purchase. You can gain discounted airline tickets, rent cards for free, and even get discounted hotel rates!
	Pre-paid credit cards - Pre-paid credit cards are ideal for those who are on a tight budget and don't want to fall prey to the financial pitfalls associated with standard credit cards. They work similar to gift certificates or debit cards. You deposit money into the card and then use the card to make purchases as you would a typical credit card.
	Secured credit cards - Secured credit cards are ideal for people with poor or no credit. They work on a collateral system, where you put up something of value against the debt on the card.