You are eligible to apply for credit cards if you are 18 years old and have a standard income source. In countries like US, the lenders ask the credit bureau for the credit report and run a examine through your credit profile to check for those who have outstanding bills, loans or mortgage in your account. They make their credit decision after dealing with your credit file. In countries such as US, a consumer is considered to be low-risk if they lives in their own home and/or have been in a profession for at least 2 yrs. Such a person attracts a low interest rate for his credit card. A person who has outstanding dues to pay or doesn't have a fixed source of income may be entitled to credit card but at a high interest rate. However the scenario is different within India, an upcoming economic superpower within Asia. Indian banks have been charging equal interest rates for credit cardholders regardless of the actual payment history, economic status or credit score profile. Howev
er the application of 'different' interest rates based on credit history and income source is gaining ground in India. Within future, it looks that the procedures for application of interest on credit cards would be the same as in US. The average interest rate on a credit card in the united states is 13-14 percent per annum during India, it is 33-34 percent. What the card holder should knowAccording towards the Truth in Lending Disclosure, (TILA) put in place by Federal Reserve (US) in 1988, it is necessary for consumers to know the price and terms of credit. This means that the information in credit cards agreement should be in a understandable, easy to read and easy to compare manner to ensure that consumers can make an informed choice. It is important for the consumer to undergo the terms and conditions of the actual credit. He or she should also discover the annual fees of the card and perform a comparative analysis. There are some credit companies that charge annual fee
s and you will find others that do not. Every charge card company gives value added features such as Billing Dispute Resolution, Purchase Protection, Warranty, Fraud Early Warning, Accident Insurance, and Insurance of lack of luggage and many other features. You will find even issuers that provide credit for low promotional rates as well as zero percent interest rate. The idea would be to promote the card and make the card holder make good utilization of the card. Till the time associated with promotion, the credit card holder needs to pay meager or no interest about the outstanding balances. How you can use it to your benefit? If you are quick on your payments and don't exceed the credit limit, you can call the charge card customer service wing and negotiate for any lower interest rate. If you've been a great credit history and relationship with the organization, they will definitely oblige. You may also call up the company and request a late fee waiver. In situation, you a
re incorrectly charged, you may also get credit as a good may gesture. You can also ask for any credit line increase. Not to point out benefits like value added features, insurance coverage protection, merchandise dispute protection and cash return offers. However all of these are marketing tactics that you should buy the plastic money and utilize it. However it is important to utilize it sensibly. Financial experts state that your credit payments shouldn't exceed 15 percent of your internet take-home salary. Now you do not require to wait in line, for days at a time, for your credit card application, to become approved. You can apply for this online too. Some of the best deals in online charge cards are available with major players such as: Please note that the brands given here are all exceptional and popular in their very own right. The brands given below aren't ranked in order of importance. Like a prospective customer, you can click about the links and make a cost-compa
rative evaluation to determine which one offers the best terms of credit that's tailored to your interest. The listings of those brands is just to make your lifetime simple and make it easy for y0u to check on, compare and apply for credit card online in one place rather than go to various websites.
V. S. ARUNRAJ believes that in today's age financial literacy is the most crucial form of literacy. Day in and day trip, we are faced with a slew of financial services and products which makes our choices difficult. Money Matters is an endeavor that will help you make the right financial choices, handle your wealth and plan your long term better.
View this post on my blog: http://creditcard.valuegov.com/understanding-the-credit-card-industry/
er the application of 'different' interest rates based on credit history and income source is gaining ground in India. Within future, it looks that the procedures for application of interest on credit cards would be the same as in US. The average interest rate on a credit card in the united states is 13-14 percent per annum during India, it is 33-34 percent. What the card holder should knowAccording towards the Truth in Lending Disclosure, (TILA) put in place by Federal Reserve (US) in 1988, it is necessary for consumers to know the price and terms of credit. This means that the information in credit cards agreement should be in a understandable, easy to read and easy to compare manner to ensure that consumers can make an informed choice. It is important for the consumer to undergo the terms and conditions of the actual credit. He or she should also discover the annual fees of the card and perform a comparative analysis. There are some credit companies that charge annual fee
s and you will find others that do not. Every charge card company gives value added features such as Billing Dispute Resolution, Purchase Protection, Warranty, Fraud Early Warning, Accident Insurance, and Insurance of lack of luggage and many other features. You will find even issuers that provide credit for low promotional rates as well as zero percent interest rate. The idea would be to promote the card and make the card holder make good utilization of the card. Till the time associated with promotion, the credit card holder needs to pay meager or no interest about the outstanding balances. How you can use it to your benefit? If you are quick on your payments and don't exceed the credit limit, you can call the charge card customer service wing and negotiate for any lower interest rate. If you've been a great credit history and relationship with the organization, they will definitely oblige. You may also call up the company and request a late fee waiver. In situation, you a
re incorrectly charged, you may also get credit as a good may gesture. You can also ask for any credit line increase. Not to point out benefits like value added features, insurance coverage protection, merchandise dispute protection and cash return offers. However all of these are marketing tactics that you should buy the plastic money and utilize it. However it is important to utilize it sensibly. Financial experts state that your credit payments shouldn't exceed 15 percent of your internet take-home salary. Now you do not require to wait in line, for days at a time, for your credit card application, to become approved. You can apply for this online too. Some of the best deals in online charge cards are available with major players such as: Please note that the brands given here are all exceptional and popular in their very own right. The brands given below aren't ranked in order of importance. Like a prospective customer, you can click about the links and make a cost-compa
rative evaluation to determine which one offers the best terms of credit that's tailored to your interest. The listings of those brands is just to make your lifetime simple and make it easy for y0u to check on, compare and apply for credit card online in one place rather than go to various websites.
V. S. ARUNRAJ believes that in today's age financial literacy is the most crucial form of literacy. Day in and day trip, we are faced with a slew of financial services and products which makes our choices difficult. Money Matters is an endeavor that will help you make the right financial choices, handle your wealth and plan your long term better.
View this post on my blog: http://creditcard.valuegov.com/understanding-the-credit-card-industry/
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