Thursday, January 26, 2017

3 Ways to Apply for a Credit Card

Credit cards make life easier when used responsibly. In the current financial situation, using these products appropriately may help to overcome cash crunches.

However, if you do not have a credit card, you may consider applying for one. Most financial institutions offer different types of cards to suit the unique requirements of users. First-time applicants may consider the following three ways to apply for a credit card

1.Online application

The Internet has made it quick and simple to access almost everything from the comfort of your home or office. You may visit the financial institutions' websites to understand the different credit cards that are offered by them. You may click on the ‘Apply Now’ button to start the online application process.

Credit Cards

2.Physical application

If you do not want to follow the online application process, you may opt for applying in-person. You may visit the nearest branch of the credit card service provider and complete the application process.

3.Telephonic application

In case you do not have the time to physically visit the branch, you may call the financial institution’s customer service number. Trained and experienced professionals will guide you through the entire process of how to apply for credit cards through a telephone call.

Here is the basic information you will have to provide while applying for a card:
  • Name and date of birth
  • Total income
  • Home address, email id, and contact number
  • Details of current and past employments
  • Particulars of any other credit cards you have
Three steps to apply for a credit card:

1.Fill out the application form

Firstly, you need to fill out an application form provided by the financial institution. Generally, the form is simple and takes a few minutes to complete. You may also take the help of a company representative to fill out the credit card application form. If you choose to avail of the card from your current banker, you may not have to submit the documents as the bank already possesses your information.

2.Answer the verification call

When your application form is sent for approval, you will receive a verification call. The call is primarily made to verify the information provided by you at the time of your application. You may also have to visit the branch within a few days for the same. It is advisable to be available for the confirmation and verification as any late response may delay you procuring the credit card.

3.Verify the card with your signature

Once you receive your new credit card, it is important that you verify it with your signature. Any oversight to this may result in severe results in the future.

Having a credit card provides you with a certain level of financial freedom. You are able to make purchases up to the available limit on your credit card without having the cash. However, many credit card users fall in huge debt traps by using their cards irresponsibly. You must be careful while using the credit card so as to ensure you do not face financial difficulties in paying the credit card bills on time.

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