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To get the best low interest credit card, you need to spend some time shopping around and comparing card rates. Don't be swayed by short term low or no interest introductory offers if the long term rate is still very high. Be sure to shop wisely.
Information You Need to Apply for a Credit Card
There is a great deal of information you will need to provide when you apply for a new credit card.
- Your personal identification. Credit card applications are typically completed online and require your name, address, phone number, and social security number. It is important that you only provide that information if it is going to a reputable source or you may end up being the victim of identity theft.
- Income and employment information. The credit card application will ask for details about your income and where you work. If it is a joint application, they will ask for this information from your spouse as well.
- Agreement to terms. When you apply for a credit card, you will be asked to sign or click on a box agreeing to the terms of the credit card. You should never agree to the terms without reading them and knowing what the terms are.
You can quickly and easily compare credit card offers online. Compare the annual percentage rate (APR) between the different cards to find the one with the lowest rate.
Step 2 – Complete the Application
Complete and submit the application online. Be sure to be honest; falsifying an application can be considered fraud.
Step 3 – Immediate Results
Most online applications are approved or denied within a few minutes. If you are approved, you should expect to see your credit card arrive in the mail within a couple of weeks. If you are denied, you will receive a letter from a credit reporting agency explaining why you were denied. You will have the opportunity to review your credit report to ensure it is accurate.
Step 4 – Use Your Card Wisely
It is easy to be irresponsible with credit. It allows you to make purchases immediately without having to face the consequences of the purchase and make the payment until much later. Use your credit card wisely, pay your payments on time, and do not exceed your credit limit. If you do violate the terms of your credit card agreement, most likely your low interest rate will disappear.
