Do you recall when we used to get a seemingly endless supply of credit card solicitations stuffed into our mailboxes? That certainly wasn’t a very efficient way to compare offers. And sending a completed application through the mail with your personal information on it was anything but safe and secure. Fortunately, today we can apply online for a credit card.
Applying over the Internet is infinitely more secure than sending your information through the mail. With encryption technology it is virtually impossible for would-be criminals to get a hold of your information in order to commit identity theft. On the other hand, how hard is it to steal an envelope and open it up? And it happened, quite a few more times than we ever realized.
Every major bank and financial institution that issues cards has a presence on the Internet. This makes it incredibly easy to compare offers and familiarize ourselves with the terms and conditions allow the features and benefits of each. It is so much easier to flip through websites on the Internet than to comb through paper applications wouldn’t you agree? And many more than the issuer’s ever wanted us to know.
Some important things that I would be remiss in not pointing out to you when it comes time to apply online for a credit card include the following:
- Interest Rates
- Annual Fees
- Rewards Programs
- Credit Limits
- Length of Grace Period
- Late Fees
And it almost pains me to say this but it is also necessary to read the fine print. Yes, I realize it is about as exciting as watching paint dry but with credit card reform now being passed into law the banks and financial institutions are getting rather clever in finding new ways to extract money from their cardholders.
Many times the methods they use to do this are buried in the fine print. Stay one step ahead of them and conduct your due diligence by carefully understanding what all the terms and conditions of the offer are before you apply online for a credit card. It is also advised that you read any information that is sent to you via e-mail or by way of a traditional post office regarding your account.
It is rather unfortunate but far too many people suddenly become surprised by fees and interest rates long after they have already owned their cards. And when it comes to surprises and credit cards… well, they can be quite expensive.