Comments on: Applying for a Credit Card: How Ready Are You?

By: credit debt consolidation

credit debt consolidation — Fri, 16 Apr 2010 03:41:35 +0000

I agree with this post totally. great job with this post and site overall.

By: Michelle

Michelle — Mon, 18 Jan 2010 01:31:25 +0000

That’s exactly it Sam. You are so right!

By: sam

sam — Sun, 17 Jan 2010 12:33:33 +0000

I like this hub, some good advice and useful comments. Just goes to show that credit is only a bad thing if you don’t know how to manage it properly

By: Michelle

Michelle — Thu, 07 Jan 2010 12:40:55 +0000

New credit laws? You mean the banks are willing to change their laws regarding charges if you don’t pay your bills on time? I doubt it. Maybe in other areas of credit like loans. But in credit cards, it remains the same. If you don’t pay it on time and in full, charges will be made.

By: zero percent balance transfer

zero percent balance transfer — Thu, 07 Jan 2010 08:59:20 +0000

If you have a moment Id like you to take a look at the new credit laws put into place in 2010 that will be affecting this article. Might consider revision.

By: Michelle

Michelle — Mon, 17 Aug 2009 19:13:58 +0000

Hi Rick, thank you for sharing such a valuable input. I do keep a couple of cards for emergency reasons and because it is convenient. I also noticed that having a good credit rating makes the bank give you more credit cards. LOL But I refused many of them. It’s hard to keep track of all the bills. My friend was upset because she felt she was duped. She never quite understood that if you didn’t pay everything in full, interest will be charged. It does pay to know these things. It’s wonderful to hear from you.

By: Rick

Rick — Mon, 17 Aug 2009 16:25:51 +0000

Initially, I applied for a credit card for the sole purpose of having a credit record. In the USA, where borrowing is based primarily on credit rating, having no credit record will not get you any loan. Of course, you have to preserve a good credit rating for them to afford you, not only a loan, but at a low, favorable interest rate. In short, your friend should not be too upset when she didn’t pay her charges in full and have to pay interests; that is, if she had kept paying on time. Unknowingly, she made herself glow in the eyes of lending institutions. Your advise on “living within means” is most important because, often, when we don’t see hard cash flowing out, it is hard to keep track of our expenses! Keeping one or two cards is good for emergency reasons. If you have lots of credit cards, from the same bank, consolidate these cards to one or two. This way, the maximum credit limit will be extended to the total of the credit limits from each of the credit cards. DO NOT simply terminate the credit card accounts because credit bureaus take this as a negative and, thus, would decrease your credit rating.
Best wishes to you Michelle – Rick.

By: Michelle

Michelle — Fri, 03 Jul 2009 23:08:43 +0000

Hello Marie! I guess it pays to be financially aware. And sometimes it gets to be tempting thinking that it is okay to just pay the minimum balance. And we forget that the interest incurred is huge! I thank you for sharing your experience. Love and light..