Foreign Perspectives

With the global economy being in something of a mess as we are all too aware, it’s not quite so easy to pick up a new credit card to roll over that Christmas debt as many people have been doing quite habitually in recent years.

However, instant decision credit cards are available and thus it’s possible to find out fairly quickly whether or not you’ve a chance of rolling over your existing debt or just getting a new card at all. Although there are loads of sites that let you compare instant decision credit cards do bear in mind that the banks in general will reduce your credit score if you make a “lot” of credit applications in a “short period”. How many a “lot” is and how long a “short period” is varies between different banks but as a broad rule of thumb it’s probably best to limit yourself to no more than two or three in a month.

Also worth noting is the rise in credit card data sharing which is also affecting the credit decisions by banks and, usually, making it more difficult for a given person to get credit than it would have been a year ago in identical circumstances. Therefore, even if your credit rating is pretty much perfect, you should consider the “bad risk” cards which are easier to get normally and will usually give you a better deal if your rating is better than average.

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Related posts:

1. Some good signs on the financial front

This entry was posted on Saturday, February 7th, 2009 at 8:47 pm and is filed under Banking, Economy, Miscellaneous. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.