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Applying For Credit Cards Online - A Practical Example

Why you should apply for credit cards online

Applying for credit cards online offers a convenience that simply cannot be matched by your local bank or finance center. What makes applying online so much better? It's best explained with an example.

Meet Dave! Dave is a hard working guy with a rough financial past. His credit isn't all that good and he cut up his previous cards after maxing them out. After paying off much of his debt (albeit, late on more than one occasion), Dave decides he wants to purchase a house within the next year. Unfortunately, he doesn't have a well established nor favorable credit history. In an attempt to re-establish his credit and raise his FICO score, Dave seeks a credit card with an affordable APR.

Scenario #1: Seeking a credit card the HARD way
Dave starts his credit card search by visiting the local bank where he has his checking account set-up. After getting up early on his day off, Dave drives to the bank and waits in line for what seems an eternity before he finally sites down to speak with a bank representative to inquire about applying for a credit card with a low apr. Unfortunately, Dave's not-so perfect credit history isn't in the banks best interest to provide him with a low apr credit card. After speaking lingo that is completely over his head, they offer him a credit card with a rate far higher than he's willing to accept. Disgruntled, Dave leaves the bank and makes the trek to a competitor bank. After the same process of driving and waiting around, this time he's flat-out denied a credit card application based on his history. After wasting half of his day, a dejected Dave goes home and tries again the next day... and the next... and the next, until finally, after countless hours of searching Dave goes back to the first bank and accepts the high APR credit card offered to him.

The end result? Dave spent hours, even days comparing only about 5 or 6 credit cards with inflated APRs until he finally yielded and accepted a credit card that was not in his best interest. Now, let's take a look at what Dave SHOULD have done!

Scenario #2: Seeking a credit card the EASY way
Dave is ready to start his credit card search today... online! Dave isn't exactly the most computer literate person in the world. Other than checking email and an occasional IM chat, he doesn't touch his computer too often. Taking the advice of his good buddy, Dave visits Credit Card FAQs, a website filled with information and resources on credit cards. The first thing Dave does is spend a few minutes become familiar with the credit card lingo and terminology by reading the online guide at CCFaqs.com. Now armed with some basic knowledge and understanding, Dave follows the easy on-screen instructions and instantly has access to over 100 credit cards! Dave can compare credit card details, including APR, fees, and incentives. Dave can read the opinions of other card holders, get detailed information on card usage and restrictions, and find the credit card that is the exact fit for him. He can even browse credit cards categorized by zero interest credit cards, low apr credit cards, or even bad credit credit cards. Within minutes of comparing dozens of cards, Dave is applying for his credit card online in a safe and secure manner.

Dave never had to leave his home and deal with the hassle associated with visiting his local financial institutions. Dave was able to instantaneously view and compare over 100 credit cards and find a low apr card that fit his needs. His online application process was quick and easy and only took a few minutes of time.

Save yourself time, avoid frustration, and get exactly when you want when using Credit Card FAQs. You can't do much better than when you apply for credit cards online!

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.