How to Get a Charge Card
- 1). Look into charge cards offered by various banks and companies. You might get offers in the mail or you can go to websites of each bank or company for more details. Your personal banker might also be able to help you find a charge card that meets your needs.
- 2). Find out more about the different types of charge cards and what you might be eligible for. For example, premium cards can offer rewards -- like cash back or bonus miles -- or services, like emergency services or travel insurance. An affinity card is connected to a particular organization or group and revenues from issuing charge cards are donated back to the organization or group. Standard charge cards will offer a low balance, usually around a few hundred to a few thousand dollars, for people with moderate credit scores.
- 3). Check the interest rates for the charge cards you are considering. The interest rate is called the annual percentage yield or APR, and it will vary from one card to another. Sometimes, charge cards offer an introductory rate that is either zero percent or very low for the first year, but be careful. After that year, the APR might rise to 15 percent or higher.
- 4). Read the fine print. For example, your APR might rise to 20 or 30 percent after your first penalty, such as paying your bill late. Late payments might also involve large fees. Yearly membership fees, balance transfer fees or over the limit fees might also apply.
- 5). Apply for the credit cards you're considering getting. You can request a paper application and mail it in or you can apply online through the company or bank website. Once you apply, you will either be contacted for further details and clarification, approved or denied. It can be difficult for people with low credit scores, for example, to get approved for a premium credit card.
- 6). Wait until you receive the new charge card you applied for in the mail. Then, call the number on the card to activate it. You're now ready to start using the charge card.
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