The Right Way to Fill out a Credit Card Application
Contributed by Deborah Zeitler
Filling out a credit card application isn't rocket science - or is it?
Look at any credit card application, and it seems pretty straightforward, right? All you need to do is fill in your name and address, and answer a few simple questions, and it's all ready to put in the mail. But before you put the stamp on the envelope, you might want to make sure you know some very important things about credit card applications. It might literally save you thousands of dollars!
Learning how to fill out a credit card application begins before it even arrives in the mail
Credit card companies aren't dishonest, it's simply that it's not in their best interests to make sure you understand all the math that appears on the application that you're filling out. If you did understand it, chances are you might decide not to even send in their application, even if you're certain your credit would be approved. In fact, all the information you need to determine whether or not that credit card is right for you is right there on the application itself.
However, it's described in terms that many consumers don't understand. You really don't need to be a rocket scientist to understand these terms, all it takes is desire and a little determination.
Understanding the fine print on credit card applications
Just looking at the fine print on a credit card application can make your head spin. Annual Percentage Rate? Method of Computing the Balance Used In Calculating Finance Charges? Of course, most people know that they want the APR to be as low as possible, even if they don't really understand what it means. But if you look at that application carefully, you will see other information that could be very valuable in determining whether or not that credit card is right for you.
