Apply Online Credit Card - Glossary

Whether you are applying for a credit card for the first time, or a pro ready to switch to a new low interest rate credit card, Apply Online Credit Card will find you the best online credit card deal to suit your personal needs.

Credit Cards Glossary Of Terms

Credit Cards - A Glossary Of Terms

Annual Fee: A yearly fee to own or use a credit card.

Annual Percentage Rate (APR): The yearly percentage rate charged when a balance is shown on a credit card. This rate is applied to your outstanding balance each month.

Balance Transfer: The moving of an existing balance from one credit card to another credit card, usually done to obtain a lower annual percentage rate (APR) and, in turn, save charges.

Balance Transfer Fee: A once-only fee charged by the credit card company to transfer a balance from another card account to that particular credit card account. This charge can be anything from 1% to 5% of the transferred balance (often up to a certain maximum dollar value). For example, a typical balance transfer fee could be 2 or 3% of the transferred balance up to a maximum charge of $50. Not all credit cards will charge this fee.

Billing Cycle: The time between each billing statement, typically 28-31 days.

Cash Advance: A cash advance is a cash loan obtained from your credit card account, usually through a bank or an ATM. This type of transaction can often be much more costly than typical purchases, as the interest rate is usually higher and there may be other fees applicable.

Credit Limit: This is the total amount of money that may be charged to or held as a balance (or a combination thereof) on a particular credit card account.

Credit Report: A report of an individual's credit history that is usually used to determine the individual's creditworthiness.

Debt Consolidation: The act of replacing (consolidating) several different loans (debts) with just one.

Finance Charge: This is a combination of interest charges and other transaction fees (i.e. balance transfer fees, cash advance fees, late fees, overlimit fees) that occur during the use of a credit card.

Fixed Rate (or Fixed APR): A fixed APR does not change but rather stays the same for a specified period of time. This differs from a credit card with an "intro APR." in that an intro APR is a temporary low APR that moves to a higher rate after the introductory period has expired (typically 3-12 months).

Grace Period: This is the time allowed to pay your credit card bill without being billed a finance charge and/or late fee. It is usually 10-28 days.

Introductory Rate (or Intro APR): A temporary, lower annual percentage rate that will typically last from 3 to 12 months. After the introductory period has expired, the APR generally rises.

Minimum Payment: The minimum payment that a cardholder is required to pay the credit card issuer each month. This amount is generally based on the outstanding balance on the cardholder's account. A cardholder can always choose to pay more than the minimum payment, and paying the entire balance in full is advised in order to avoid finance charges.

Overlimit Fee: A fee charged when the cardholder's balance exceeds his/her credit limit.

Prime Rate (or Prime Interest Rate): The interest rate at which banks lend to their most creditworthy customers. The prime rate can change although not on a regular basis.

Secured Credit Cards: These are credit cards that require collateral for approval. With secured credit cards, a security deposit is needed to secure the balance on the credit card. The amount of the security deposit usually equals the credit limit for that particular credit card. Generally, secured credit cards are for individuals with no credit or poor credit who are trying to build or rebuild their credit history.

Unsecured Credit Cards: These are credit cards that are not secured by any collateral. Customers will qualify based on their credit history, financial strength and earnings potential.

Variable Rate: Variable Rate is the opposite of a fixed rate. It is generally Prime Rate + an additional rate. As an example, if the rate of a credit card is "Prime rate + 4%," and the current prime rate is 10%, the APR would be 14%. The prime rate will vary throughout the year.

Now You Can Apply Online For Credit Cards

Applying online for credit cards is now more common than ever. The real trick is finding a card that offers you all the benefits you need, without costing you too much. That is why you should take a careful look at the different card options out there.

There are hundreds of credit cards on the market and all offering different perks and posting different potential pitfall. Some even allow the comparing of prices but what is important is the features they have in order to find the best deal for you.

In fact, there are lots of websites offering different kind of cards which you can apply online. From different banks to different agency who offer them to anyone who are interested. Always choose the type of card that suits you best especially when it comes to interest rates.

Here are some tips in getting best cards online:

1. You can go to websites where different cards are offered and you have to compare the price and their interest rates and the features of them.
2. Think how often you are going to use your credit cards to earn enough rewards to take advantage of it. Find the low interest rates kind of cards where you can save.
3. Know how your card works and understand it from the time you make a purchase which depend on how close your purchase date is to the payment due date on your statement that you can have up to several days with free interest on any purchase made.
4. Always be aware that credit cash advance has interest charge higher than when you purchase something using your credit cards. So you better ask the agent where you purchase your cards regarding cash advance interest.

People of today mostly use credit cards in purchasing rather than cash. A card is handy to carry and most safe than cash.

There are even websites who offer cards online within 24 hours only and even takes only 30 minutes and they can have their credit cards but that depend on the requirements they ask from you.

How to apply credit cards online?

First you need to search for the website where credit cards are offered and after comparing which ones are best for you, you can click the apply here button.

After clicking the button, you can find some kind of basic information about yourself and ask for an identification card such as SS number or driver license number and other information of yourself such as address, birthplace, date of birth, etc and your annual income.

Then you have to wait for the reply. Some credit cards offer instant approval but others require weeks that depends on the information you give to them. Sometimes, they have to tell you to notify you through your e-mail.

Most of the websites are linked to secure socket layer technology which offer the highest level of internet security involving sophisticated data where in your information is safe

You can find many great sites that will allow you to find credit cards and apply online. However, you want a site like http://creditcardsapplyonline.org that will allow you to compare interest rates, rewards options, fees and more.

Click on the links above to find out more.

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