You can actually get a credit response in just 24 hours, is it possible? You may be asking yourself “Why on earth would I want to do this?”
One thing that card issuers really like about you is your honesty. They love people who keep their word and pay their bills on time. In fact the more you pay your bill on time, the more they like you.
The fact that you paid your bills on time will increase your credit score when you apply for your new card. And you will want to have as many cards as possible so you have a chance at getting the best interest rates.
People who have bad habits usually only pay their bills on time
This means that they have no choice but to keep paying them late. When they do this over an extended period of time they can lose their job or the company may go out of business.
What you need to understand is that the credit report is not a record of all of your debts. Your debt will show up in the form of a monthly payment or a charge off, and these are the things that credit reporting companies will look at when evaluating you.
If you have several cards with balances of several hundred dollars then these credit card companies will view you as a high risk. Because of this they are going to check to see if you are able to make the payments on time each month, and they will make note of your payments history on those cards.
Credit reporting agencies determine one’s creditworthiness
Credit reporting agencies use this information to determine if you are credit worthy, and they use this rating to determine what interest rate to charge you. They also take the current outstanding balance on your credit cards into consideration when calculating your credit score.
Many card issuers will even deny you their service because of your bad record. So the first thing you need to do is check out all the card offers you are being offered and determine which ones have better rates.
One thing you will notice about the card companies that will offer you the lowest interest rates is that they are offering no finance charges. These are the most aggressive companies that are offering the lowest interest rates.
Some of the card issuers that are offering the lowest interest rates are those that are also the oldest. Because the older the company the less likely they are to be able to make a profit and they are going to compete for your business.
Once you determine the oldest companies out there then you can decide whether you want to work with these companies. Or you can go with a newer company that offers you a better rate.
Older companies will still have less overhead, and it’s likely that they will offer you better perks such as cash back rewards. They will also be able to offer you a higher credit limit.
There are many benefits to working with a company that is new, but you may need to pay more than companies that are older. If you compare the rates they offer you will find that these newer companies offer lower interest rates and better benefits for you to get a credit response in 24 hours, It Is Possible?
You will also want to make sure that they have a credit card that fits your situation. There are some that are designed for people who don’t have good credit.
Make sure that the credit card that you choose has an unlimited offer. This will give you a chance to build up a decent credit rating before you need to get a credit card again.
There are many companies out there that offer no finance cards. so make sure you do your research to find the one that will offer you the best rate.