Thanks to the Internet, it has never been easier to receive and submit credit card applications. It can be very tempting to fill out all of the online forms available to you. But be careful, it could end up costing you-consider the following issues before hitting that “send application” again.
Be aware of card offers promising “pre-approved” credit. You may be a prospective customer, but you still have to apply for credit. Each time you apply, the card company obtains a copy of your credit report. All these credit card applications count as inquiries that, if concentrated over a short period of time, can negatively affect your credit score
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With online credit card applications, you should also consider the security of your personal credit information. Take Security and privacy concerns seriously. Limit your online application to card companies that use industry-standard practices for security and privacy. Look for 128-bit encrypting, which scrambles your application data and requires a de-scrambler to read it.