Kate asked:


I have a bad credit rating but am interested in a Visa Debit Card (where you preload funds – not the secured kind). If I apply for one will the credit bureau or Visa consider the application to be for “credit”?

Benjamin

Max Anderson asked:


Ready to send in that prepaid credit card application? You’d better think twice! Some prepaid credit cards aren’t everything they’re cracked up to be. Want to make sure your prepaid credit card application is the right one? Here are three things to consider.

1. What Are They Hiding?

Prepaid credit cards are notorious for hidden fees and charges. That’s why it’s so important to know exactly what you’re in for before you submit any prepaid credit card application. Some prepaid credit cards charge monthly fees, per transaction fees and even fees for when you don’t use the card at all.

Before you sign any prepaid credit card application, make sure you know exactly what fees they will be charging when you get the card. That means reading every line of the terms and conditions very carefully, making sure you don’t miss a thing.

2. Why Do You Want It?

Another thing you need to consider before you send in a prepaid credit card application is what you want the card for. Are you trying to rebuild credit? If that’s the case, you might be surprised to know that most of the prepaid credit cards out there can’t help you do it.

For your credit to improve your credit card company needs to report your account activity to a credit bureau. Unfortunately, the majority of prepaid credit card companies don’t do this. If you do want to rebuild credit, you might be better off with a secured card instead.

Prepaid credit cards are also a problem when booking a hotel or renting a car. Some hotels and car rental companies won’t even accept them. Others will require you to charge a large deposit in addition to the estimated total.

3. Is It a Privacy Thing?

It used to be that prepaid credit cards offered a sense of privacy. You bought the card and then used it — no personal info required. That’s no longer the case. New laws require prepaid credit card companies to collect the same information that traditional credit card companies gather.

If the only reason you’re getting a prepaid credit card is for privacy, a gift card with a credit card logo is a better bet. You won’t have to disclose personal info like you do with a prepaid credit card application.

There are indeed many legitimate uses for prepaid credit cards and they do come in handy at times. I’m not saying you should throw away every prepaid credit card application you’ve considered. Just make sure that a prepaid credit card is really what you’re after. Once you understand exactly what you’re dealing with and what prepaid credit cards will and won’t do, go ahead and send in the prepaid credit card application that’s right for you.



Sherry

michael fernandez asked:


Getting a credit card is a very easy process that just requires the filling up of a credit card application which may take up to only 15 minutes. First thing that has to be done is to choose the company whose credit card you want to use. This can be achieved by going online and comparing the various advantages, cost, perks, service, and benefits of different companies and choose the right one for you.

Then comes the filling up of credit card application forms. Always fill the correct information and do not leave the mandatory areas. The first query to be answered in credit card application is US citizenship. Most of the banks give credit cards only for US citizens or permanent residents. Then comes to the personal details such as first, middle and last name and the associated suffix, nick names are not to be used.

In your credit card application you have to provide your address in the order street name, city, state and zip code and the number of years that you have been residing there along with your housing status. Then you have to mention about your mailing address which would be sometimes different from your residential address. This is usually followed by the phone number. And all your work contact details is a mandatory field in the credit card application as they do verification checks.

Important information that you have to give is the Social Security Number. The reason behind giving this is that it gives the bankers the access to the credit bureau data, which is essential for the processing of your application.

For the purpose of added security you have to give your mother’s maiden name.

Employment status, date of birth, account information and monthly payment are mandatory fields which decide your eligibility for a credit card. E-mail address is also required.

As any other online banking services, the credit application too is not fool proof. There are a number of cases reported regarding the credit card scams and fraudulent companies that host wrong web sites. These bogus companies involve in identity theft and hijack of your bank accounts. Make sure that your privacy is ensured and all the information that you post are secured by 128 bit SSL.



Earl

Chad Nordaune asked:


for a credit card is not as simple as it may seem. There are several things to factor in and your credit scores are also a major factor.

The first thing you should do before filling out a credit card application is to get a copy of your free credit report. Check your credit report and score to make sure that you have the most accurate information displayed on your credit report. If you have been denied credit in the past you can usually get a copy of your credit report for free, from the credit bureau that was used in your denial letter. If that is not an option, most free credit report offers, have a free trial up to for the first 30 days, which you can opt out of or keep continuously and pay a fee of usually $9-$12 a month.

Your credit score determines which are interest rate is going to be and the length of time that you may be eligible for 0% intro APR. If you have inaccurate trade lines on your credit report, your credit score will be lower and you’ll end up with a higher interest rate or lower promotional length of time on your 0% intro APR. so make sure that your credit report and credit score reflect accurately your repayment history.

Once you know that your credit score in credit report are up-to-date, the next thing you want to do is compare credit card application offers. To make sure that you find the best possible rates, credit cards with no annual fees, and rewards that fit your lifestyle. Websites that will display all the fine print for you, like the annual fees, the intro period, interest rate, and other fine print terms can save you time and hassle.

When you find a credit card that meets all the criteria for your lifestyle including a low interest rate, a lower no annual fee, and the rates have rewards, you’re ready to apply for a credit card.

What credit card fits what lifestyle? A traveler with frequent flyer miles might interested in a frequent-flier credit card. Someone that likes to say their money might find that a credit card with cashback rewards fits their lifestyle. If you want to save money at the pump, and our gas rebate credit cards not also offer savings on gas purchases and other expenses like groceries.



Monica