Everyone experiences financial issues from time to time, and we all have to weigh up our options when it comes to selecting the most suitable lending avenues to keep creditors at bay. Depending on individual situations, some people find that bank loans are the best choice, whilst others tend to gravitate towards using alternative means of lending like payday loans or credit cards. Which you select could make a significant impact on your future capital, so it’s vital you do lots of research and ensure you have enough information to determine your decision is suitable.
With that in mind, today I’m going to spend some time talking you through some of the things you need to consider before applying for a credit card. All too often these days I see people getting lumbered with large amounts of extra interest they didn’t expect to pay, but in truth, all the details were there in black and white on the contract they signed, so there’s very little they can do about it.
Take a few minutes to scroll through all the information below, and I’m confident you’ll stand the best chance of avoiding being caught out…
1 – Do You Really Need A Credit Card?
As there are so many different opportunities for making money out there today, it’s important that you spend some time looking at alternatives to lending. Anyone with a little cash to invest could easily raise the funds they need by using a stock broker like TradeKing, who specialise in providing advice and helping new traders to make good deals. The great thing about this kind of opportunity is that you can get started with as little as a few dollars.
2 – Have You Checked Interest Rates?
Secondly, anyone considering making a credit card application should first spend some time online looking through different comparison websites to see who offers the best deal. The amount of interest you pay can vary immensely depending on which provider you decide to use, so make sure you select a competitive one. Also, you might like to spend some time working out exactly how much that percentage equals in monetary terms for the amount of money you expect to borrow.
3 – Do They Allow 0% On Balance Transfers?
This applies specifically to people who’ve already got one credit card, but who are looking for another. Most companies who provide this means of lending offer 0% on balance transfers for 12 months. This means you can move your debt from your old card to your new one and avoid paying any interest on the balance.
4 – What Do Other Customers Say?
Finally, before applying for your new credit card, it’s worth having a look through review sites online to find out about the satisfaction rates that particular provider achieves. If there’s any information they’ve hidden away that could affect you financially, this is where you’ll find people talking about it.
Well, I’ve got to leave it there for today folks. Unfortunately, I’ve got a conference call in an hour, so I really need to start making preparations. Just remember, never apply for a credit card or accept any form of lending unless there are no other solutions available.
Stay safe and be careful!