Questions for a Credit Card Issuer Before Applying

You’ve spent plenty of time comparing credit card offers with hopes of finding the perfect one. You’re almost ready to apply, but aren’t totally sure if now’s the right time to move forward.

It’s common to take a step back when you’re close to the end of the road. However, if you let your fear get the best of you, you may never end up with a credit card that can improve your financial circumstances while providing a high level of convenience.

One of the best ways to clear the air is to ask questions of your credit card issuer before applying. There is no shortage of questions to start with, but these are among the best:

• Can you explain the top features of the credit card?
• What is the interest rate? How do you calculate it? Is it fixed or variable?
• Is there a rewards program or cash back program associated with the credit card?
• Is there an annual fee?
• What type of online account access do you offer?
• What are the top safety and security features of the credit card?
• How long does the application process take, and when can I expect a decision?

As you ask these questions, many others will come to light. For example, if you find that the credit card has a rewards program, you’ll want to dig around for more information. And fortunately, the person you’re speaking with can point you in the right direction.

Never shy away from the opportunity to answer important questions before applying for a credit card. It will slow you down a touch, but it’s well worth it in the long run. The information you gather will go a long way in helping you better understand the offer and whether it’ll fit your financial situation and goals.