Information on getting a credit card

Article written by J.D. Nichols, December 23, 2007.

Not having a credit card can be very difficult for many Americans throughout the country. It seems like every time you turn around  you are being asked to provide a credit card number to make a purchase online, reserve a motel or hotel room, making reservations for vacation cabins and not to mention renting a car.

Not only does not having a card to make purchases or make reservations cause headaches, but it can also effect your credit score. Most people may not realize that not having any type of credit can actually keep you from getting financed for a loan in the future, just like having too much credit card debt can keep you from the same thing... we will cover this in another article later on.

So, if you are looking for a credit card for the first time or you have had past credit problems and you are looking for a way to get a credit card, maybe this information can help you find what you need.

Finding the right credit card.

Bad Credit Offers - Reward Cards - Business Card Offers - Balance Transfer Offer - Student Cards

OK, let's start off by asking a really simple question. Have you ever had a credit card account or loan under your name in the past seven years? Did you leave the account or accounts in good standing? If you are uncertain you may want to get a credit report and score to see where you stand. There are three major reporting agencies that many creditors report to, Equifax, TransUnion and Experian. A credit report will show your past and present history of repayment on loans, credit cards, leases, mobile phone company, utility companies and even your hospital and doctor bills.

The credit score or FICO is a numerical evaluation of your credit rating, the score is based on numbers that range from 300 - 850, with 300 being considered bad credit and 850 being excellent. The average credit score throughout the United States is 720.

Finding the best credit card offer will require that you have a high credit score, the better the credit score the better the card you can get. If your credit score is low, don't worry! There are credit card companies that work with people with bad credit.

If you are trying get credit for the first time you may be better off getting a gas card, a department store credit card or a secured credit card to help you on your way to building a solid credit history. These types of credit cards or usually fairly easy to obtain and can be a big step to building a good credit history if used properly. There are even cards that are specifically designed for college students that can help them establish credit for the future.

Use you credit card wisely.

Before you use your credit card, make sure that you can make the monthly payments. We hear way too many times about people using there card with good intentions of making the monthly payments, but find out later that they cannot.

Do not max out your credit card! The best thing for people to do is to use their credit card at least once a month, but to keep their balance below 35 to 40 percent of the credit limit. For example, if your credit limit is set up at $500, do not let the balance get above $200. Be sure to include any monthly or annual fees into consideration, in most cases these fees are added into your monthly card statements.

When you mail in your credit card payment or make the monthly payment online, be sure that the payment is on time, we cannot stress this enough! Not only could paying your payment late destroy your credit rating, but there will be late fees and possible other charges added on to your account and it could also void out the agreement that you have with the card issuer and could possibly cause you to pay a much higher interest rate. The bottom line is to pay as much as you can or all of the balance on your credit card statement and make sure that the payment is on time.

Just remember that the credit card that you have today can make or break you tomorrow.

Find a credit card.