Applying for a credit card is not a big deal at all. It’s just like filling any other regular application forms. But getting approved after applying is for sure a big deal. It’s just like gambling, you can never predict the results. You can never be sure whether you’ll get approved or not.
So what should you do in that case? We, of course, you can’t force the issuers to approve you, yet you can make favorable preparation though. So to help you apply for the credit card so that you can get approved too, we have come up with certain tips that you must try. By following the steps below, you’ll be more likely to get approved for your card.
Steps Involved In Applying For Credit Cards
Credit card Scores are the major factor upon which your approval decision by card issuer depends. So before applying for the card, make sure to take a deep look at your scores and examine them according to the card you want to apply for. Looking over to your scores will determine which card is best for you to apply as many cards requires excellent score, whereas some are okay with average, while others also accept bad score. A credit score table is given below so that you can compare your scores and have a basic idea:
Credit Scores Credit Ranking
300-629 Bad Credit Score
630-689 Average Credit Score
690-719 Good Credit Score
720 and so on Excellent Credit Score
Though many credit card companies do accept your application with a bad credit score, however, you shouldn’t rely on them. They should always be your second priority and you must try to apply for the good ones. And if your scores are bad then don’t worry, you have plenty of time to improve your score. You don’t have to work hard to improve your score, just a few little things like making payments on time, keeping your balance low on the existing cards, and avoiding any new loans and debts will work.
Another thing to avoid is “hurry”. Yes, I know you have no time to lose and you are in a little hurry. However, I will suggest you take your time and don’t run for the first option you see. There are lots of credit card companies that are worth applying for, so you must give each of them a detailed look and read Credit Card Reviews to know more about them.
As there are lots of credit card companies out there, so it becomes a little difficult to choose. However, you should go for the one which you need and not the one which fancies you. Just for instance, if you like the company that offers large loan criteria but you have comparatively low income, then you should never go for this. Similarly, there many other aspects to consider while choosing your credit card company, so before applying you have to make sure which company is better for your requirements.
When you have decided the company you want to apply to, your next step is to check if you are eligible for it or not. Read all the policies, terms and conditions, rules and regulations of the company and then compare it with yourself and find out if you are pre-qualified for it or not.
Once all the things are done, visit the company’s administration office and ask them for the application form. Filling the application form is not a big deal at all. You simply have to put your basic and personal information like your name, address, date of birth, ID number, income, credit history, etc.
Priyanka Negi is a blogger