Credit card applications 'must be appropriate'

Consumers seeking the best credit card deals should prepare properly before applying, it has been claimed.

According to Experian, there is still plenty of choice available in the market despite the recession, reports MSN.

Users should decide whether they are looking for reward points, a zero per cent balance transfer or perhaps no interest on spending, the firm stated.

This is important, because those who apply for a card which does not fit their profile are likely to be rejected, Experian commented.

The firm stated: "There's no point applying for a platinum high-earners card if you're an impoverished student."

It also warned customers not to make multiple card applications, as every time a lender checks a credit report it leaves a footprint.

Experian stated: "If they see lots of these, they may think you're desperate or even planning a fraud, so ask for a quote if you want to know what interest you'll pay or what your spending limit might be."

Earlier this week, the Finance & Leasing Association warned consumers to keep on top of their credit card spending over Christmas.

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2009-12-11 13:06:35 © Moneyextra.com