Consumers who want to purchase more than what they can afford tend to apply for credit cards because of the guaranteed approval which happened to be increased lately by more than 50% from the original ratings in the past. Even those who were hit by recession found assurance on credit card companies since they can still purchase even without having cash on hand. The great news is there are over 99% of people who applied for a credit card and all of them were approved. If you are serious to apply for a credit card and get approved easily, now is your time to shine and grab the opportunity.
According to a survey made in the past years, credit card applicants increased by about 5 million and these people actually made the federal reserve increase as well by about $5.67 billion dollars. This was according to Bloomberg News and Survey. Getting approved by credit card companies won’t be so hard these days especially if you are currently employed. Majority of banks nowadays are offering kind of secured credit card for clients who want to apply for it. People who deposits money into their account brings higher chances of being approved when applying for credit cards it is important for an applicant to thoroughly read the application right before applying for it.
There are certain fees that must be considered for guaranteed approval which is what the US government is considering these days that is why the need to revise the law for the benefit of the masses that is also being recognized and discussed by the house and the legislative committee. Consumers who are always using their credit cards should refrain from doing so according to an economist because according to a median forecast as an employment rate increases, the more consumers are using their credit cards and so they are digging deeper their debts too.
The cost of fuel, household items, gasoline and others may make the lives of more people harder these days. even if the people are moving and aiming higher, according to Brian Jones, who is actually an economist practicing in New York, there will be no visible difference that can be seen in the lives of people because they will still end up miserable due to higher debts that they have and must be paid off. The amount of salary that they will get won’t be enough to pay for the actual debts because they are only paying for the interest and surcharges passed on to them by the credit card companies.