Should Consumers Apply for a New Credit Cards Today Or Wait Until 2017

If you don’t yet have a credit card, you should not delay further and apply it today. Having a credit card allows you to establish your credit history which is important for obtaining loan approval. To establish a credit history, you simply need to spend some money with the credit card every month. If you promptly pay your credit card in full, you will be able to build an impressive credit report in 6 months.

If your credit score is good, you can apply for a card that offers a long interest free introductory period so you don’t have to pay back interest when repaying your credit card bill. The APR interest free introductory period typically lasts from 1 year – 21 months and you should do your best to get a card with the longest possible APR free introductory period.

Carrying a credit card is safer and gives you a feeling of security compared to carrying cash in your wallet. If you carry a lot of cash, robbers will pay attention on you and try to rob you. If you lose your credit card, you can quickly report it to the credit card company and they will immediately terminate your credit card account to prevent unauthorized charges. On the other hand, if you bring cash with you and you get robbed, there is no way of getting back the cash.

All online stores accept credit cards so you must apply for a credit card if you want to shop online. Christmas is near and you should apply for a credit card if you plan to buy something online this Christmas. When you use your credit card to make a purchase, you are entitled to earning cash back and signup bonuses.

Usually, there is a maximum threshold for the cash back, for example, Blue Cash Preferred Card is offering a 6% cash back on grocery and you can continue to earn this cashback until you have spent $6,000 in that year. For the signup bonus, there is a minimum spending requirement you have to meet. Many retailers offer promotions when you pay for your purchases with a certain brand of credit card.

It is very safe to shop online because the online store uses a secure SSL certificate to encrypt the personal data submitted by the customers during the checkout. Some credit cards offer rewards and additional protection on store purchases. For example, if you are not satisfied with the quality of the product, you can ask your credit card company to initiate a charge back without having to wait for the store to refund the payment. The credit card may also offer extended warranty and increase the warranty coverage period of the item you purchase from the store.