Trends You Need To Know About Credit Cards


The recent years have seen a steep upsurge in the use of credit cards that have become a passion. The automatic mailer since sent to the people enjoying satisfactory CIBIL scores entice for highlighting the particular customers for pre-approved cards. The CIBIL scores may go down if your credit history is not up to satisfactory mark and you may be on the verge of being rejected as regards credit card facilities.

Some facts about pre-approved credit cards – The credit card companies and the card issuing banks try hard to attract customers for getting the credit cards. Your mail boxes are loaded with plenty of offers pertaining to credit cards. One must be careful in acting against such mails as regards their acceptance or rejection.

Following tips may be adhered as regards buying the pre- approved cards or not:

Know the product – It is recommended to make elaborate inquiry about the card you are interested in from various reputed online companies such as One must think twice before going in for such plastic cards that sometimes leave you debt ridden. It is wise to forget your satisfactory CIBIL score but pay attention on specific need for the credit card. The general public is often lured by the banks or the credit card companies that often offer low interest rates and lifetime free cards that facilitate easy money. Be aware of the service charges and annual payable for continuing such cards. It is recommended to go online and check various products as regards and features of the different companies that facilitate the same. Undoubtedly, you receive many mails with regard to issuance of credit cards. But please do check various products before you buy any particular one just by getting kicked with the mails that just drop in your inbox. Don’t hesitate in collecting information around. Hundreds of better offers may be there as a large number of credit card issuers offer attractive offers like balance transfer, rewards credit cards or low rate of interest etc.

Credit card pre-approvals may lure you – Submission of an application is a must despite the fact that you have received the pre-approved credit card offer. Your credit history shall be examined by the issuing bank or the company for your qualification to hold the credit card or not. Be wise to know that the terms and conditions mentioned in the offer letter that may sometimes differ. The rate of interest may be higher in actual than the one mentioned in the offer letter. Sometimes you may be denied issuance of the credit card despite the information for its approval in the offer letter.

Pre-approval vs prequalification – The people interested to enjoy credit cards must know that the terms preapproval and prequalification mean differently. Prequalification may be termed as the first step as regards the mortgage approval process. Getting pre-approval requires you for submission of the completed mortgage application involving documentation about your finances etc in terms of credit check. However, these terms in the context of credit cards mean almost the same thing.

Knowledge about the above is quite beneficial for enjoying advantageous facilities as far as credit cards are concerned.