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How to Apply for a Credit Card

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Applying for a credit card is a wise move, especially when you are responsible enough to handle your expenses. There are many great benefits that one can get from credit, but it can also be a pain when your bills pile up and your spending is uncontrollable. Before considering availing of a credit card, assess your spending habits and how you manage your expenses.

There are a number of eligibility requirements that should be met before a credit card company or a bank approves of your application. There is also a wide choice of credit card options to choose from, depending on your preference. The first step in applying for a credit card is to explore your options, read about plans, credit rates, as well as their terms and regulations and see which kind of credit card fits you and your lifestyle.

There are also a lot of ways in which you can apply for a credit card. A paper application is one of the oldest and most traditional ways of application, while applying by phone is still pretty common. Today’s technology also gives way to online applications, which is considered more convenient and faster than the earlier methods.

There are certain things that you should take note of when choosing the right credit card, including features such as the interest rates, the credit limit, penalties, interest free days, APR, balance transfer schemes, cash advances, grace periods, and other offers as well as implied costs.

Most companies have preconditions for applying. They will require your including your social security system (SSS) number, driving license number, proof of address as well as proof for your date of birth. There are also some eligibility requirements to be met, from age criteria to annual income, and things of the like.

Credit companies also look into credit scores to determine your eligibility. Your credit history includes the number of credit cards you have or have had, the amount you owe on these credit cards, the loans you have taken out, and other things like your payment scheme, how many you have missed and if you pay your bills on time. This information is important in determining your credit score and your eligibility.



Featured Credit Cards:

BDO MASTERCARD SHOP MORE


FEATURES:

  • Pay just Php900 for the initial year!
  • Avail of a cash advance fee of 5% or Php300 whichever is higher
  • Have a finance charge of 3.50%
  • Avail of up to 30% Cash Advance of your credit limit!
  • Get rewards points each time you purchase items at SM by the Peso Payback Rewards Program
  • Get up to 5 supplementary cards on your first year!
  • Relish on exciting freebies and discounts through SM Exclusive programs and BDO Delights!
  • Avail of the ongoing installment promos for as low as 0% interest in different electronics ad appliance stores, furniture shops, health and beauty services, restaurants, jewelry shops, travel packages and more.

BDO Shop More MasterCard has wide recognition and acceptance on major establishments throughout the Philippines and plus 20 million locations in 275 territories and countries wherever MasterCard is accepted.

MABUHAY MILES PLATINUM CREDIT CARD


FEATURES:

  • Get free Miles with the lowest point conversion ever to hit the market with only Php38!
  • Gain access to your credit card account anywhere in the world!
  • Enjoy as much as 30% of your credit limit in My Ally Instant Cash
  • Also enjoy a revolving Interest Rate of only 3.25%!

HSBC Mabuhay Miles VISA Classic and Gold Credit Card


FEATURES:

<ul>
<li>Earn miles with everything you buy</li>
<li>Free annual fee for the initial year for both primary and supplementary cards</li>
<li>Get 24/7 Concierge Service anytime anywhere to free you of any credit card concerns</li>
</ul>

Featured Articles:

Featured Article 5

Ever thought of getting a credit card but don’t know where to start? For majority of cardholders we know, credit cards are terrific tools that certainly have very great advantages.

We at comprecreditcards.com.ph have surveyed many customers and here is what came out…

Its very handy payment. That’s the big thing, right? You don’t have to worry about being robbed or something because you don’t have that big cash with you. Even if you’re just making small purchases, it’s a big help. Plus, the fact that we are in the on-line shopping age, it’s a total must have.

On the spot loans. When you’re short of cash, a credit card will be there to save you from the embarrassment of not being able to pay as it will help you make up for your purchase. To avoid any fees, just pay your balance in full.

You have no idea as to where you’re spending your money? People have the tendency to say they don’t know where half of their money went. With a credit card, you can easily track your purchases on your monthly payments. So if you think your wife spent too much for the month, check on your bill, who knows, it might even be you…

It’s easier to pay off. It’s easy to pay credit card bills. All you have to do is find an ATM with your checking or an easy account transfer. Good news is you don’t have to wait a month to pay it off. And guess what, some even lets cardholders pay their bills ONLINE. So say goodbye long lines; Hello to convenience!


You get rewards.

Every time you make transactions you earn point or “rewards” that you can exchange for either gift checks, vouchers, exclusive items or maybe the cash back system. We’re not saying that you use your credit card non-stop to avail of these, but as a matter of fact, it is a nice bonus.

Very exclusive deals. How would you spell exclusive? Its “c-r-e-d-i-t-c-a-r-d”. Why? Because you get a lot of high class services that are only available for those people who hold the cards. Sometimes its discounts on products, dining and traveling first class. Remember the times when you really wanted to buy something and you were able to buy it because of the discount my credit card was able to give me.

We can go on and on with these, but nothing is really important than learning it by experience. Everything has its ups and downs. It’s up to you, as the card holder, to become responsible in how you manage your money. Look into the bigger picture of how credit cards make life easier and who knows you might just even love it. Just be responsible and a word of advice, pay your dues on time, all the time…