October 03, 2019
Are you ready to apply for a new credit card? Curious about the type of information you’ll be asked to provide on applications for credit cards and whether or not you’ll qualify for a card?
Applying for a credit card is a relatively simple process that requires some basic personal and financial information. The decision to approve or deny your application will be based on your credit history, your income, your debt-to-income ratio, and other factors card-issuers use to evaluate the risk they would assume by granting you credit.
Here are a few things you should know before submitting your credit card application.
Every credit card company has its own unique application that you must complete in order to be considered for a credit card. The required information is similar on all of these applications regardless of the issuer. In general, when you fill out an application for a credit card, you’ll be asked to provide the following:
Filling out your credit card application is the easy part. Qualifying for the credit card may be a little trickier, depending on your credit history and other factors card-issuers use to determine eligibility.
It’s worth mentioning that, with most credit card banks, you can find out if you pre-qualify for one of their credit cards without actually filling out a credit card application, which may save your credit score from dropping a few points from a hard inquiry. With Credit One Bank, for example, you can find out if you pre-qualify in less than a minute simply by providing a few basic pieces of information. You can even check to see if you already have a pre-approved credit card offer waiting for you.
Here are a few ways to potentially improve your chances of getting approved.
Despite your best efforts, you may not be able to qualify for an unsecured card the first time you apply. Here are two other options to consider.
Applying for a credit card is a simple process, but getting approved for one may take a bit of work. Ready to get started? Find out if you pre-qualify for a Credit One Bank credit card in less than 60 seconds.
Jennifer Brozic began her writing career at seven years old, when she scribed the epic tale of her kite-flying (and skyward-looking) uncle crossing paths with a deep hole in a sandy beach. After earning a degree in journalism, Jen worked in the insurance and financial services industries before earning a master’s degree in communication management. She left the nine-to-five corporate world in 2010 and has been freelance writing ever since. Her areas of expertise include insurance, financial planning & budgeting, and building credit.
Ever visited a credit card website and learned that you could see if you “pre-qualify” for their card simply by entering a few pieces of information? Or received an email or letter informing you that you’re “pre-approved” for a new credit card?
There’s no getting around the long road to building credit after bankruptcy. Once you have it on your credit file, it will be harder to get approved for different types of financing. But, you aren’t stuck with a lifetime of declined loan applications because you can always take meaningful steps towards rebuilding your credit. And over time, every step you take towards improving your credit score will bring you one step closer to being able to qualify for credit cards after bankruptcy, loans and even a mortgage.
Applying for a credit card is relatively easy these days, but there are a lot of factors that go in to determining whether you qualify and, if you do, how much credit you qualify for. To maximize your chances of getting the right credit card, it helps to be prepared before you apply.