Get credit card now, today!
To get credit card now is not easy even if you have excellent credit. Today, banks are quite selective when issuing credit cards. Just like everyone could get a mortgage, anybody had a card. For years banks just mailed as many offers as they could print. Try getting a credit card now. Even the most credit worthy customers feel the pinch. Those who do get credit card today, often must verify their employment by furnishing pay stubs as well as the net worth with copies of bank statements. Now, what you likely get is a card with smaller limit and higher rates than you expect. Certain unexpected fees can also be there. There are two reasons which make it difficult to get credit card now - the economic meltdown and the recent Credit Card Act of 2009. The former has drastically increased credit card defaults forcing banks to write off billions while the latter banned several very profitable ways for banks to make money of delinquent card holders.
So today banks are repricing credit card accounts by cutting unused credit lines by often 50% and more and raising interest rates on creditworthy consumers who carry large balance. But putting those unpleasant things aside, let us concentrate on few concrete steps that should help you, a consumer with good credit, to get credit card now, in not so friendly environment.
It takes longer to get credit card today, so apply in advance, while you still have a job. The way things are currently going you may not have one tomorrow.
If you are planning to retire in a few months, start the ball rolling. Getting credit card now while employed is much easier that when retired.
If you are a retiree, prepare to show quite a bit of money in your checking/saving, IRA or 401(k). Quite a bit could vary from few thousands to several, depending on your credit, existing number of cards and credit limits.
First apply with you bank or credit union, since they have all your records and know you. By applying for credit card today, you can literally get an approval tomorrow.
If you are a student in college, get credit card now. You will get a low balance but likely decent interest rate and annual fee waived for the first year. Get a checking account at least 6 months prior to applying and have at least several hundreds dollars there. And more importantly, starting February 22, 2010, the only way for anyone under 21 to get a credit card will be to prove you have adequate income and either complete a certified financial literacy course or have an adult cosign for you, so your best bet with the least hassle is to get credit card now.
Related entry - Need credit card fast but can't get it.
Thu Aug 13, 2009 04:08PM | Copyright: www.bad-credit-advisor.com | More in Credit Card Deals | Comments (0)
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