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How Credit Card Applications Can Effect Your Credit Score
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By Beth Pardue
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Thanks to the Internet, it has never been easier to receive andsubmit credit card applications. It can be very tempting to fillout all of the online forms available to you. But be careful, itcould end up costing you--consider the following issues beforehitting that "send application" again.
Be aware of card offers promising "pre-approved" credit. Youmay be a prospective customer, but you still have to apply forcredit. Each time you apply, the card company obtains a copy ofyour credit report. All these credit card applications count asinquiries that, if concentrated over a short period of time, cannegatively affect your creditscore
Do you know what your credit score is? Visit www.credit-report-credit-score.com to find out free of charge and to receivea free copy of your credit report.
With online credit card applications, you should also considerthe security of your personal credit information. Take Securityand privacy concerns seriously. Limit your online application tocard companies that use industry-standard practices for securityand privacy. Look for 128-bit encrypting, which scrambles yourapplication data and requires a de-scrambler to read it.
Additionally, the card company's Web server should use SecuredSockets Layer (SSL) technology. Look for an online applicationon a secure screen of the Web site. This is usually identifiedwith a padlock or similar icon, or has a URL that begins withthe word "https." The company should also clearly state itsprivacy policy for handling your financial data.
------------------------- Note: This article may be freelyreproduced as long as the authors bio paragraph at the bottom ofthis article is included, the article is published "as is"(unedited) and all URL's are made active hyperlinks with nosyntax changes. -------------------------
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