Amid the spread of COVOID19, people have begun to reconsider the use of cash. As the virus is infecting more and more people when they come in contact with anything touched by an infected person, it is the time to be more careful about the way you live your life. Even though you wash your hands more often, you touch surfaces, and anyhow your hands reach your face on auto-pilot, increasing the risk of the infection.
When you step out of your house, you are highly likely to touch surfaces and hand cash to make payments. Several people may already have touched coins and notes, and some of them are likely to be COVID19 patients. It is the best time to wear gloves.
However, most of the people are using contactless technology to make payments. Cards and digital wallets are better than cash and coins, and they require less physical interaction. The use of credit cards can give customers more peace of mind. It whittles down the risk of being caught by the infection.
Credit cards will not only help you keep the infection at arm’s length but also will keep your financial transactions safe. However, you will have to make sure that you make all payments within the grace period. However, some people are using other methods of digital payments like e-wallets.
Digital payments are more secure than using cash and coins, yet digital payments only account for a quarter of all transactions. As you know that the healthcare industry is yet to discover the vaccination to fight off COVID19, you should take as many preventive measures as possible. If you do not have credit card, you should apply for the one today.
It is no rocket science. You need to follow the following steps:
To apply for a credit score, you must be at least 18-years-old, a resident of the UK, and you must have a regular source of income. Despite meeting these conditions, you can fail to get a credit card if you have had applied within the last 30 days and been turned down.
Before you apply for a credit card, you should check your credit score. You can get a copy of your credit report from credit reference agencies. You can get it free once a year. If your credit history is stellar, you are more likely to get signed off on for the best deal.
Checking your credit file is crucial as it may have some mistakes that can be the reason for rejection of your application. If you find any errors, get them rectified first.
Not all credit cards will solve your purpose, for example, 0% balance transfer credit cards aimed at people who want to consolidate loans. You will need a purchase card if you’re going to use it for your everyday expenses.
Such cards also come with an interest-free period so that you can pay off all your dues. However, you can also apply for a combined card. Such cards carry 0% interest introductory offers for both purchases and balance transfers. If you have already debt, combined cards can be an ideal option. Identify your needs and then look for the right type of card.
To apply for a credit card, you will need the following documents:
Submitting documents will not be enough to get a credit card. A direct lender will evaluate your financial commitments and employment status. Lenders are keen to approve the application of borrowers who spend a long time in a company. If you are self-employed, the number of revenues you generate will help lenders decide if they should approve.
Your credit score is an indicator of how credible you have been to other lenders. If you have been keeping up with repayments monthly, the chances of approval are higher.
Here is the list of top 10 credit cards in the UK:
The use of a credit card is best during COVID19 as it will require less physical interaction while making payments. Further, you will not have to rush to take out instalment loans for bad credit when you do not have enough money. Apply for a credit card today!
This post was last modified on 01/05/2020 4:33 PM
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