The Credit Card Game and How to Master It

By Zandra Quilla

Learn to master the credit card game

Quick tips on how to get fast credit card approval

• Language: English
• Publisher: Zandra Quilla
• Release date: Mar 8, 2016
• ISBN: 9781329955196

Book preview

The Credit Card Game and How to Master It

Applying for a credit card these days is as simple as entering your information into an online form and clicking submit. But getting approved for a credit card requires proactive planning that should start long before you apply.

CHAPTER I

A Beginner’s Guide to Using a Credit Card

So, you want to open a credit card? It’s a good idea – most of the time. Still think you’re ready to take on the responsibility of owning a credit card? Then let’s walk through how to select, understand, apply and manage your credit card.

How does a credit card work?

A credit card lets you spend money on credit. You can spend up to a pre-set credit limit, which might be a few hundred or several thousands of dollars/pounds. It depends on how confident your card provider is that you will pay it back.

It is usually advisable to pay off the bill every month. If you do you won’t pay interest on what you have borrowed (except for cash withdrawals, where interest is usually charged on a daily basis from the day you take your cash).

If you don’t pay off any outstanding balance in full then interest will be charged. It’s usually backdated too, so if you bought something at the start of the month you’ll be charged a whole month’s interest.

Don’t be tempted to use credit cards at cash machines to withdraw money. You’ll be hit with charges – up to 4% or more with some companies.

Suitability

Unless you are in a 0% or other introductory period, a credit card is usually only right for you if you’re sure you’ll pay off the amount you borrow each month.

You will still need to make the minimum payment each month. Set up a Direct Debit for the full monthly outstanding balance, or at least the minimum amount to be paid from your bank account. This will help avoid unwanted charges and the loss of any introductory incentives.

You will undergo a credit assessment by any potential card providers when you apply. A good credit rating will improve your chances of a successful credit application. It could also give you access to cards offering the lowest interest rates and/or promotional offers.

You must be at least 18 to apply for a credit card. With some cards the

Reviews for The Credit Card Game and How to Master It

[selina · Rating: 4 out of 5 stars]

giving 4 starts, mainly most of the infos are available in other places, but the writer took the effort to keep all the info in a book, thats why it is 4 stars. If you are new in the credit card world, this is a great book to start with.