The Master Credit Card Application Trap

Never think that a master credit card application is easy. Yes, in truth the process is quite easier than a lot of people might think. The whole package of the credit card is practically given to you, shoved into your face for free. You might just be walking along, window shopping in the mall when a credit card agent hands you an application and quickly convinces you that their credit card is the best and that you really need it in your life right now. You are asked to fill up a few forms and the card is yours instantly. But that is not the kind of “ease” that I am referring to. The truth is this ease in a master credit card application process belies a very dangerous situation for you. It is the unraveling of that situation itself is where the real challenge of credit card processing lies.

Think about it carefully. Has anyone ever told you just how big a responsibility having a credit card is? It is positively a Herculean task depending on the type of person that you are. Here is a typical story of an acquaintance of mine and his credit card loan problems:

Jeff Goethe was a good musician. His jazz hip compositions were really good. He had a good online business going on and his music was being used as clips for student or small time productions. But of course the economic recession hit him hard. He had a lot of loans. His credit card was being maxed out because it was all he had in order to buy the daily necessities such as groceries and clothing. What was a guy to do? He was out of luck so he just decided to be a teacher. He finally got a position in Eugene High School, but that was after months of building up some considerable credit card debt which got so high because of the five hundred dollar late payment fees and interest. On that note, Jeff might have been able to pay of his debt so much earlier if he had done his master credit card application more carefully. Instead, he fell into the same trap that most Americans fall into, the easy credit card trap.

Credit card entice its prospective customers by making their application as good looking and as confusing as possible simultaneously. At first glance, the initial interest rate and the late payment fees might seem reasonable, but a closer inspection should reveal some very significant loop holes appended to these numbers. The confusing terms and the unreadable fine print try confuse and intimidate you into forgoing further perusal. But for those who do delve in deeper, you might be surprised to see that the interest rates actually go up higher in certain circumstances and that the low or none existent late fees are also conditional. Check thoroughly before any master credit card application.