Spend Wisely

Many Americans are drowning in personal debt, but you hear less about the people who are digging out of debt. Having a credit card is a big help to those person who don't have a cash in hands. You can use it in many ways, like purchasing a laptop or a TV or for a groceries. It can help you in case of emergency. Credit Card is a short-term borrowing and repayment terms. Man always invented new things to satisfy every ones need and comforts. That's why credit card exist. Because today there are thousand of financial institutions the offer credit cards. In 1958 credit cards appeared from the Bank of America with the name BankAmerica Card. And now was named VISA card and another popular card was also Master Card. These cards permits its users to borrow money or buy goods and services on credit up and pre-spending limit.

How can you apply for a credit card? Do you think it's so easy to get it? Many bank companies are so clever enough to know about the person who's applying for a credit card. In applying credit card you must be at least 21 years of age; with a minimum fixed monthly income; you must have a business or landline number; and if you are a foreigner, you must be a permanent resident and you should include a photocopy of the Alien Certificate of Registration and work permit; and fill out the documents require like ITR (Income Tax Refund), Certificate of Employment, previous month's pay slip and etc. After you've done these, wait for their call. It's just a confirmation if you are really applying for a credit card and will be asking for some information about you. It takes weeks before they approve your application or worst application declined.

But do you think its so simple to have a credit card? Think of this... what if you drown from debt? Their are lots of credit card holders have encountered this problem. And worst they must sell their properties just to pay their mortgages. Especially women. Women can't control their cravings to spent to much in buying not so important things. Shopping is their weakness.

Everytime you make a credit transaction, like you're going to Southern Baja for a vacation and you use your credit card to pay for air fare, you leave a trail of information that gets picked up by credit agencies and that's what you call the Credit Report. Relax! Your credit report is used by lenders to determine your availability and willingness in paying debts. To remind you, just used your credit card wisely and it could really extend your spending power.