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Dec 2 2019

I Need A New Credit Card Fast #bad #credit #loan



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I Need A New Credit Card Fast

by Silicon Valley Blogger on 2009-06-23 9

Earlier on, my credit card account got closed when my card company decided to pull the plug on their credit card division. The irony here is that the card I owned (the Advanta card) was once considered one of the best credit cards for the buck, as per Forbes. So naturally, like one of the million customers who were abandoned up the creek at short notice, I thought about what kind of steps to take next.

How To Get A New Credit Card: Shopping For A Card On Short Notice

I d select financial products that are backed by reputable institutions. Some such products that come to mind include Discover American Express rewards credit cards, CitiCard balance transfer cards, Capital One cards, Bank of America cards.

For a full range of credit card choices, check out our credit card section which you can review from our Best Credit Cards page. Or if you re seeking a fast response on your card application, check out our Instant Approval Cards page .

Narrow down your choices before shopping for a card. Establish your goals before checking out cards. Do you want to emphasize rewards or are you looking for a card with the lowest fees? Do you want to consolidate your debt? You ll also need to know what kind of credit history you have because your credit will often determine what card you ll be able to qualify for. And finally, think about which card issuer you d like to work with, since most big card companies have similar products that can adequately fulfill your requirements.

Get a new credit card through financial institutions you already have a relationship with.

Because we didn t have the forethought to double up on business cards before (we didn t have any spares), we were stuck having to apply for new credit cards after our credit accounts were closed. So we opted to turn to the banks we were already doing business with to get us approved for new cards right away. If your financial institution carries your business accounts, and you ve got a personal banker working with you, it s quite likely that you ll be able to get a credit card approved through them quickly because of your record with them as a loyal customer with an established business. Applying this strategy, we received new cards in our hands within a week!

Consider alternatives to business credit cards.

When you ve lost a business credit card like I have (in Advanta), your replacement business card can t come a moment too soon. But if you re having problems securing a quick replacement, you can always consider using your personal card to back you up. While you can always use a personal credit card for business purposes, I wouldn t do this for the long term it s more of a stop gap measure until you get yourself that replacement business card.

Business credit cards are still the better choice to use for your venture because they ve got higher credit limits; they also usually offer rewards and perks that are advantageous to business owners, and most importantly, they offer a way for you to separate any liability from your person. As far as I know, if you ever encounter issues or problems with your credit through your business, having a business credit card can shield those problems from creeping into your personal credit history. Anyone care to confirm or dispute this?

Here were a few other things I learned from this experience as a former Advanta credit card holder in this unique position:



Written by CREDIT