Happy 2012! Welcome to my site on how to pre qualify for credit cards. Let’s face it, these days credit cards are indispensable. You must have at least one, either to rent a car, secure a hotel room or even as a second form of identification. Some banks, due to the financial climate have ceased offering easy terms credit cards. But some banks still extend the service to some of their customers. Here are some tips on how to pre qualify for credit cards at easy terms.
How To Become Pre Qualified For Credit Cards
The world today is focusing more and more on speed and efficiency in everything. Nobody is willing to wait for anything anymore, and a quick supply of anything that is purchased or ordered is often expected. This is also true for credit cards; most people do not want to wait for approval for any credit card they apply for, and they want to know straight away whether they are accepted or declined. Thankfully there is a simple way to speed up the credit card approval process, and that is to become pre qualified for cards before you apply.
There are two ways that you can become pre qualified; you can supply some lenders with some preliminary details about yourself, or you can apply for cards that are easy to be approved for. By supplying some preliminary details about yourself to a lender you are giving them time to check your credit and determine what cards they are willing to offer you and at what rates. Then if you choose to apply for one of those cards you will receive very speedy approval.
It is quite simple to become pre qualified for credit cards; all you need to do is fill out a general form for a lender and then let them determine what cards you pre qualify for. Most credit card companies have these forms located on their websites, and once you fill them out there is no obligation to apply for a card, it just makes things easier for you. By filling in this pre application form you will save yourself a lot of time, because if you didn’t you might end up applying for a card you want and then waiting days or weeks to hear back from them, only to find out you are declined. By filling in this simple form with a lender they will be able to tell you what cards you will likely be approved for, so you do not waste any time applying for cards for which you will be declined.
The second way to pre qualify for credit cards is to understand your current credit score and only apply for cards that you know you can get. This can be done by contacting the leading credit agencies and requesting a copy of your credit history and then doing some research online to determine what you can reasonably be approved for based on that history.
Credit card applications don’t need to take a lot of time, follow some of our advice and pre qualify today!
Important site on reporting credit card fraud – don’t get caught!
Learn more about what you need and how to pre qualify for credit cards. Some credit managers say it’s all about the score. Here’s more information on how your score can affect those credit card offers.
What Is A FICO Score?
What is a FICO score? It is a score is part of a persons profile that determines if a person is worthy to be given credit. This is the same rating that auto dealers use to decide if they are willing to give someone an auto finance. Banks use the same number to see if you qualify for a loan or not.
The average credit score of people with good credit is about 700 or better. A person with this type of score can get anything they want from anywhere. The higher a person credit rate is the more favorable lenders tend to be towards them.
The score goes up or down depending on the number of entries or inquires creditors make. For instance, not anyone with a low score can enjoy the benefits of low interest rates on car loans, or mortgages. The majority of people that have a below average rating is not doomed.
They still have a chance to make things right. There are agencies that will help people to get their credit back on the right track. These agencies do charge a nominal fee though.
However, there are some instances where the community may offer some free educational courses. Bad credit plague millions of people and no one should be ashamed of their credit status. The only way that a person should be ashamed is if they do not take advantage of all the benefits that are available to them. There are tons of benefits available to the person who wants to improve their rating.
Credit profiles are important when someone is trying to buy a home, a car, or even start a business. Not too many places are willing to take a chance on someone who does not have a good standing. It is important to keep a good understanding with everyone. No one knows for sure what their true scoring is until they have pulled their credit file.
The file contains a lot of important information that creditors and lenders look for. They look at every aspect of the borrowers life to make sure they can afford the money that they are asking for. They generally look at the debts and payments. The debts should not be more than the income. When this happens that means that, the person is in financial trouble. This can happen to the best of us.
The best way to deal with this is to let the lender know about any issues before they find out on their own. When people are confronted with the truth, they generally have to respect what is going on. It is only when people are put in the dark about the truth that they react negatively.
If your credit profile is not up to par, and you have, some issues that need to be straightened out do not hesitate to fix these issues right away. You may be able to work some things out financially. If you have not gotten your rating up to par do so before it gets out of hand.
Ready for a new card? Learn from experts. Here’s how to pre qualify for credit cards, on your own terms!
4 Things You May Not Know About Credit Cards
I bet you didn’t know all the things credit card companies offer nowadays!
1. There are:
Rewards cards that give you cash back or rewards like AirMiles.
Auto and gas cards where you can earn rewards that can be redeemed towards the purchase of a new or used car, car-related expenses or merchandise.
Airline cards that offer frequent flyer programs
Business cards for both small business owners as well as corporate executives that can help to keep your company’s expenses on track.
Student cards designed for high school and college students
Balance transfer cards that allow you to consolidate your debts onto a single card to save money on interest charges.
Cash back cards that offer reward programs that give you cash back. Generally, for these types of credit cards, you must have a good-to-excellent credit rating.
Instant approval cards where you can apply online and, if qualified, usually receive notice via email of your acceptance within seconds of completing an online credit card application. Again here, you usually must have good to excellent credit.
Low interest cards that provide either a low fixed-rate Average Percentage Rate(APR) or a low introductory APR.
2. Some have an annual fee and some do not. Fees can range from as little as $25.00 to as much as $120.00. Usually, the more benefits you get, the higher the annual fee.
3. They also have many types of insurance/warranty coverage when you use your card to make these purchases. Here is a list of the most popular and examples of what they cover, depending on the card you choose:
Car Rental
o covers accident damage or theft when you rent a car, up to a certain dollar value.
Travel Accident
o covers accidental death and dismemberment when you, your spouse or your dependent children travel.
Trip Cancellation
o covers trip cancellation or interruption if you or your immediate family is sick, injured or die. You, your spouse or your dependent children can claim benefits up to a certain dollar amount per person and up to a maximum per trip.
Baggage Loss Protection
o covers loss or damage to your baggage and personal effects while you are in transit, up to a certain dollar amount.
Extended Warranty
o protects purchases made with your credit card against accidental damage and theft for a specified period of time.
o extends the original manufacturer’s or store brand warranty
Purchase Protection
o covers the repair or replacement of your purchases, up to a certain dollar amount.
Travel Medical
o covers, up to a certain dollar amount, some medical expenses when you travel. These expenses could include: medical consultation charges, hospitalization charges, ambulance service fees, etc. Your spouse and any dependent children may also be eligible for benefits when traveling with you.
Flight Delay
o covers reasonable and necessary hotel, motel or restaurant expenses, up to a certain dollar amount, when your flight is delayed or you are denied boarding for a period of time, and no alternate transportation is available. Your spouse and any dependent children may also be eligible for benefits when they travel with you.
Roadside Assistance
o usually auto club membership which generally include road side assistance and auto discounts. This insurance is usually only available if you pay an additional fee.
So, really investigate what each card offers and what you really need. If you get some of these benefits from your employer, you don’t want to spend extra to get them from your credit card company.
Likewise, if you don’t travel a lot, you don’t want to pay for all these travel benefits.
4. Most credit card companies have another important benefit called Zero Liability. This means you are not held responsible for unauthorized purchases that are made with your credit card. Zero Liability applies to purchases made in the store, over the telephone or online. There are usually a few preconditions such as:
- Your account must be in good standing.
- You exercised reasonable care in safeguarding your card
- You have not reported two or more unauthorized events in the past 12 months.
Check with your credit card company to see if they have other preconditions or exclusions to this benefit.
Speaking of liability, one of the ways I use to control/prevent fraud is to have one card for my purchases from retailers that I am completely comfortable with and another card for purchases from retailers I am not sure of. For example; in our area, credit cards are often cloned at the local corner store and gas station. So, I use one card solely for those types of purchases. That way, if that card gets cloned or has fraud on it, it only affects those types of minor purchases. Another example; if you are not comfortable making online purchases with your main credit card, get another one just for those types of purchases.
It is also good for your credit score to have more than one credit card, if you pay your bills ON TIME. Use each card at least once a month.
And a few last words about liability:
Never give credit card numbers of other banking info over the internet – even if it looks like it comes from the bank – they do not do this. Nor on the phone if they call you. Call them back to ensure it is a legitimate call.
Check your statements – even check them online regularly.
Credit card fraud affected approximately 11.1 million people in the U.S., in 2009.
So, in conclusion, find out all the benefits your credit card company offers as you may be paying for more than you need or want. Or, you may not have the coverage you think you have. It may be tedious to read all the paperwork that comes with your card but you should be informed if you are to be a responsible consumer. Owning credit cards requires responsibility, maturity and knowledge.
There are many sites online that offer you the chance to compare cards so take advantage of this and do your homework. You will be glad you did.
Do you need more information on the secret to get a hold of credit cards? Click here.
There are criteria and restrictions on how to pre qualify for credit cards. If you have a consistent record of paying your bills on time and are successful managing debt (income to debt ration) then banks will love to lend to you and extend their credit card offers!
Copyright 2012
