CREDIT CARDS... ANYONE?

Credit Card when used wisely is a good business tool. You can use credit cards to purchase goods on line. You may also use it to pay in restaurants, business establishments, hospitals, schools, etc.

I can still recall my first credit card was from Standard Chartered bank way back in 1997. There was an agent from a credit card service provider that visited our company to solicit clients in need of credit cards.

So, what are the basic requirements to own one? You need to present proof of income (ITR, payslip or employment certificate for employees and ITR for self-employed). You also need to submit proof of residence such as utility bills for telephone, water or electricity. Very important is to have a landline no., either at home or in your office where the bank may contact you re: your application. Processing time is between 2 - 3 weeks.

Upon approval, your credit card will be sent to the address indicated in your application form. If you are not around, make sure that you prepare an authorization letter that you have authorized the bearer to receive the card on your behalf. Dont forget to leave your identification card as well. Upon receipt of the card, immediately write your signature at the back and call the bank for activation.

Just make sure to use your credit cards responsibly to avoid problems later on.