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Getting to Know Everything about Unsecured Credit Cards

Unsecured credit cards are credit cards which do not require any collateral. Unlike a secure credit card where you have to deposit a certain amount of money or use your properties as collateral, these unsecured credit cards can be acquired just by having a good credit history.

If you are one of those people who fall into the excellent category in terms of credit history and standing, there are a lot of things you need to learn to get the best offer. Unsecured credit cards are offered everywhere, and most of the time, you can get these offers to apply through mail.

There is also an option wherein you can apply for these cards over the web. All you need to do, once you have obtained your application form is to completely fill it up, and attach certain documents that are needed for the credit card companies to assess your financial status and capability and you are all set.

Remember that the documents you are sending to the bank are the ones they will use to determine if they will approve your request, and at the same time gauge the amount of credit limit they are going to give you.

On the other hand, as a consumer, you should be able to know all the aspects when choosing an unsecured credit card. You may want to look at the offers and other privileges that will work for you best.

Some unsecured credit cards offer a 0% annual percentage rate on purchases that you make on the first year of the issuance of your card. Some offer a minimum amount of APR, but it is best to choose the zero rated ones. After the introductory period, the bank charges you for a certain interest rate, usually variable to your credit standing. You should also be able to compare the APR after the promo and choose the lowest rate.

Another factor to consider in understanding unsecured credit cards is the transfer rates they offer. Like the purchase APR, some unsecured credit cards also offer 0% annual percentage rate on the first year of on the first six months of the card, followed by a certain percentage after the introductory period. Again, you should be able to compare which unsecured credit card is offering the lowest APR.

Another thing you need to know in choosing a good credit card is the benefits that you will enjoy every time you use them. Some credit card companies offer cash rebates, which usually runs from 1% to 2%, depending on the goods you purchased.

The most important thing you need to consider is the safety of your account and of you as well. By this, we mean getting a credit card which offer protection from unauthorized purchases or charges made to your account. Also, you would want to consider choosing a credit card which has a virtual account number wherein it prevents you from giving out your true credit card account number, especially when you are making your purchase online.

After you have gathered all the information you need regarding the unsecured credit cards that you picked, the last thing you need to do is to compare them all and pick the one that offers the lowest APR on purchases and transfers and the one with the most benefits.