Auto-Loan-Financing.com has scoured the web to find the best financial articles to help peole repair bad credit or fix their
personal finances. Each article is written by leading finance or automotive industry experts.
A credit card is a great financial tool. It can be more convenient to use and carry than cash and it offers valuable consumer protections under federal law.
At the same time, it's a big responsibility. If you don't use it carefully, you may owe more than you can repay, damage your credit rating and create credit problems for yourself that can be difficult to fix.
Chances are your mail is full of offers from credit card issuers. How do you know if the time is right for a credit card? Here is some important information that may help you determine whether you're ready for plastic, what to look for when you select a company to do business with and how to use your credit card responsibly.
QUALIFYING FOR A CREDIT CARD
If you're at least 18 years old and have a regular source of income, you're well on your way to qualifying for a card. But despite the invitations from card issuers, you'll still have to demonstrate that you're a good risk before they grant you credit. The proof is in your credit record. If you've financed a car loan or other purchase, you probably have a record at a credit reporting bureau. This credit history shows how responsible you've been in paying your bills and helps the credit card issuer decide how much credit to extend.
Before you submit a credit application, get a copy of your credit report to make sure it's accurate. Contact the credit bureaus listed in the telephone directory under "credit" or "credit rating and reporting." Because more than one credit bureau may have a file on you, call each until you locate all the agencies maintaining your file. The three major national credit bureaus are:
Anyone who takes action against you in response to a report supplied by a credit reporting agency - such as denying your application for credit - must give you the name, address and telephone number of the credit bureau that provided the report.
Parts of This Article
Establishing A Credit History
If Your Application Is Denied
Getting The Best Deal
Credit Etiquette
Federal Protections
Anyone who takes action against you in response to a report supplied by a credit reporting agency - such as denying your application for credit - must give you the name, address and telephone number of the credit bureau that provided the report.
Article content is copyrighted by their respective authors. Auto-Loan-Financing.com makes no claim to ownership of the
articles. The Articles provided are solely for educational and informational purposes and do not constitute legal or financial
advice. Files, source code, page layout, and design contained herein are the intellectual property of Auto-Loan-Financing.com
and may not be reproduced without the express written consent from Auto-Loan-Financing.com.
The Articles provided are solely for educational and informational purposes and do not constitute legal or financial advice to
erase, fix, or repair bad credit.
