Applying for a Credit Cardor

Applying for a Credit Cardor

Applying for a Credit Card

In the past 5 years, we've seen a clear shift away from a pre-approval process to a longer, more challenging application process. This guide will help you navigate that process. To apply for a credit card, you'll need to provide personal and financial information, so please review the documents outlined in this guide.


But searching for the right credit card for you—not to mention applying for a credit card—can be nerve-wracking. You might not know where to start, what information credit card companies (known as issuers) need from you or how to increase your chances of being approved for a card. That’s why it’s important to learn as much as you can about the application process and what you can expect from it before you apply for a credit card. If you’re just starting out with credit and don’t have a score yet, you’ll want to look for a credit card that requires no credit history, such as a secured credit card. These cards will help you to build up your credit score so that you can apply for better cards in the future. For example, once you work your way up to a credit score in the good to excellent credit range (670 to 850) you’ll have more credit card options to choose from, like rewards cards, where you’ll get the opportunity to earn cash back, points or miles on purchases. For example, you could potentially earn hundreds of dollars back annually or major discounts on hotels and flights.

Do you want to earn rewards? If you have good to excellent credit, a rewards card that allows you to earn cash back, points or miles on qualifying purchases could be a great option to consider. You could earn rewards on everyday purchases at grocery stores, gas stations, restaurants and more, plus a flat rewards rate on all other purchases. Many of these cards also offer sign-up bonuses for new cardholders, along with other benefits like travel perks, shopping credits and purchase protection, among others. (Source: www.bankrate.com)


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