Credit Card - Tips for Getting Approved

Credit Card - Tips for Getting Approved

Most card issuers charge you interest based on the date the money leaves your credit card, but some may base this on the date the transaction took place - up to a week before they pay the retailer.
Paying by Direct Debit is a good method of not forgetting to pay the bills. However some issuers may reserve the right to demand payment in full rather than a minimum payment if you abuse your credit card.

Although they are providing credit to you as a customer, credit cards are a buyers market. You should be able to negotiate interest rates and annual fees if you are an existing customer or have a good credit history.

Introductory interest rates act as a teaser to gain new customers. Often card issuers will make back this money by charging a much higher interest rate once the introductory period expires - make sure you aren't left with a large balance when the switch occurs.

Some card issuers are able to offer fantastic credit limits with a low interest rate. Read the small print - some issuers could charge you interest within the first month (sometimes double!) even if you pay off the balance in full at the end of the month.

Be careful of cash advances. Not only do higher interest rates apply to them, there is often a transaction fee of 2-3% and interest may be calculated from the day the cash is advanced.