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Get the FACTS about Credit Cards...

Here is what you need to know...
   to break free of Credit Card Karma:

Credit Facts...
How to Get Through the...
   Credit Card Application Process

If you can approach filling out a credit card application, the same way you would fill out a job application, you are already in the right frame of mind to complete it successfully.

Before you start, do your homework:

* Research the Choices: Just like you would not apply for every job, do not apply for every credit card. If you flood the financial world with applications, it only makes you seem "desperate", "lazy", or both.

Tip: Use the Internet to researching credit cards. Compare their rates, terms, fees, and incentives.

* Read the Fine Print: All credit cards are not created equal. Besides annual percentage rate interest (APR) and annual fees, other commissions, charges, and fees can be assessed by your credit card supplier.

- The good news is that ALL charges MUST be listed in the booklet that comes with your credit card. Any changes MUST be separately communicated by the credit card supplier.
- The bad news is that the fine print takes time to read.

Tip: Note that special rates apply to different situations (higher rates on cash advances, higher commissions on foreign currency exchanges, higher rates on riskier purchases, etc).

* Apply Where Best for You: If your credit is bad, then do not bother with those companies requiring top of the line credit. Do not give up. There are hundreds of companies out there that offer credit cards for people with bad credit. If you shop around, you will find the credit card that is just right for you.

Tip: Beware of those credit card companies with contact addresses outside of your country. The best thing to do is to narrow your search to places where you can go and visit the bank yourself. It is much easier to get help when you are having problems with your card supplier if they are located nearby.

* Use Personal Advantages: If there is something unique about your situation, apply for the credit cards that match. In other words, if you belong to a group (like the military), an association (like teachers), or other organization (hospital workers), apply for the cards that cater specifically to those individuals.

Tip: Be honest. Disclose everything you know about your credit situation. If you think that the credit card companies cannot find out every last fact about you, think again. People make honest mistakes and forget things.... but those who hide things... are bound to have their credit application rejected. Plus be as "neat and complete" as you can on the form (appearance does count!).

* Too Good to Be True?: Whenever you use your credit card to make a payment, you are borrowing that amount from your supplier. You will need to repay this borrowed money to the supplier within a specified period of time. Otherwise you will incur late fees and interest on the borrowed amount.

Given this, the following things should make you suspicious that the credit card offer is too good to be true:

No Credit Check? Right! Having a credit card means going to go into debt. Do you really believe that anyone is going to lend you money without checking your credit? Grow up. These companies are usually scamsters who collect upfront fees and are gone afterwards.

No Annual Fee? Right! This means that your APR is already so high that the credit card company does not need to go to the trouble to collect another fee. Or it means that the other fees and charges are so high that the supplier can "brag" about not charging annual fees.

Member Fees a Bargain? Right! Most of the time, the member fees are where the credit card company makes their money. They are counting on the fact that most people most of the time will not take advantage of most offers... meaning that member fees often actually buy "absolutely nothing - yo!"