Five Useful Things To Know When Applying For A Credit Card

applying for a credit card

Applying for your very first credit card can be an exciting, but also a confusing time. There are so many different credit cards to choose from, but even once you’ve narrowed down your choices and picked out a card, you still have to complete the application process. It’s important to be well informed when you apply for a credit card, lest you make a mistake or commit some other error that leads to your application being declined.

To help you get your application in without making any mistakes, here are a few very useful things you might like to know about applying for a credit card:

  1. You should check your credit file before applying. If your credit score is quite low, it could mean that any credit card applications you make now will be turned down. Each declined application is noted down on your credit file, potentially dragging your credit score down even more. This is why, before you apply, you should take a peek at your credit file.
  2. You should only ever apply for one credit card at a time. It can be tempting to send out a wave of credit card applications all at once, in the hope that at least one credit card company will approve you. However, a large number of applications made all at once can also be damaging for your credit score, especially if many of them result in a rejection letter.
  3. It’s quicker to use apply for credit card online forms. You can apply for a credit card using a paper form, but most people find it quicker and easier to apply online. You can get access to help and advice on filling in the application instantly, as well as submitting the form very quickly. You may even hear back about your application if you submit it online. If you do apply online, however, make sure you do so securely.
  4. Have the right documents and information at hand. To apply for a credit card, you’ll need to provide details relating to your current (and maybe previous) address, bank account, income, and current and past credit and debt. Have all the relevant information on hand before you apply.
  5. Always be honest on your application form. Don’t be tempted to submit inaccurate information or lie when you apply for a credit card, as all your details will be thoroughly checked by a credit reference agency, and there will be consequences if you’re not honest.


    • Corina Ramos

      Corina Ramos 07/15/2013 6:24 p.m. #

      These are great tips we tend to forget. I found out some years ago about the credit inquiries hurting our score...when the hubs and me first got together we had a lot of applications out...I know that hurt us.

      I can't count the number of times I forgot something like Mario's employer address and number, that was a good reminder to have all the information on hand before filling out the application. :)

      Thanks for these reminders Sicorra! Have a great week my friend!

      • Sicorra

        Sicorra 07/15/2013 7:26 p.m. #

        Thanks Corina!
        Personally I think it is crazy that a credit score gets dinged if there are too many inquiries. I remember a few years ago I met someone that said that when they were shopping for a car loan they carried around with them a copy of their credit report so that each bank wouldn't run a new inquiry. And then once he found a good deal with a specific company, they pulled his report once more for verification, and that was it.

        It is so easy to forget stuff too. It is info you don't need on a daily basis.

        Have a great evening my soon..

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