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2001-02-12
By
Arlene Martell
Website:
http://www.1st-free-credit-cards.com
>
Online Credit Cards: Questions asked when you apply for an Online Credit
Card
Applying for an online credit card is very easy. Many companies will take your application with only a few basic questions, but the information you provide will determine whether you get a secured or unsecured credit card.
The online credit card application usually looks like this:
1. Have you ever-declared personal bankruptcy? Yes No
2. I have not had any credit delinquencies in the past 6 months that are 60 days or more past due. True False
3.I have one good trade line reported active to the Credit Bureau that is at least 6 months old. (Ex: mortgage loan payment, installment loan payment or department store payment) True False
4.My annual income is more than $10,000 per year. True False
Depending on the financial institution issuing the card, approval terms and policies change. The first thing that is considered when processing a credit card is your employment status and credit bureau report. Credit reporting agencies will help the card company assess their risk in issuing a card to you.
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A secured credit card simply means that a security deposit account is set up and used to secure your credit card. It acts much the same way as a debit card. You can only purchase the amount equal to what is in your deposit account. The amount in your deposit account will determine your credit limit. Usually the financial establishment wants a minimum of $200.00 to secure a credit card. Credit limits can go up to $5000.00 and annual reviews are available, as credit needs change. The account allows you to re-build your credit history and at the same time allow you to enjoy all the benefits of a credit card. You will be able to use the credit card to make online purchases, ticket reservations, car and hotel rentals and current identification.
On-line credit cards are a popular way to apply for a credit card. Many card-issuing companies will maintain extensive web sites to offer information about their credit card choices and terms of use. They are able to field many customer service inquiries this way and get important information out to the cardholder.
For
more information on online credit cards
or to take advantage of any of these popular services, please
choose from the following:
Free
Online
Banking •
Free
Credit Cards
• Free
Credit Reports
Free
ISPs • Free
Long Distance • Free
Voice Mail
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About The Author:Arlene Martell is a successful author and the
publisher of http://www.1st-free-credit-cards.com. A one-stop resource for the credit card industry featuring articles, comparisons and reviews of free and premium credit card providers. *Webmasters,
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