A credit card can be a great financial tool, but it also is a big responsibility. Applying for and receiving a credit card generally is an easy procedure. Offers from credit card companies arrive frequently in the mail.
Many people, particularly first-time users, do not fully understand the implications of a credit card. They may charge more than they can repay.This can damage a credit rating and cause problems that can be difficult to fix. Credit card and idenity theft can be a major issue when applying for credit.
Before you submit a credit application, obtain a copy of your credit report from one of the three major credit reporting agencies to make sure it is accurate.
Carl Light
January 11, 2005