Ellen Stevens asked:




While we always have to be cautious concerning the debt load we carry, at the same time, most of us need at least one credit card to cover ourselves in case of emergencies.

So even though it’s wise not to build up debt and the high interest rates that accompany credit cards, at the same time it can be just as unwise to not have a backup up credit card in case something unexpected happens.

Just remember to pay off those credit card bills before the interest rates kick in, and you’ll do ok.

With that in mind, here are some tips to ensure you get quick approval for a credit card application.

The credit card application itself

While it may seem to be a no-brainer, surprisingly, many people don’t properly complete a credit card application, elongating the process and unnecessarily prolonging the approval of the application.

So we can think something on a credit card application is not that important and so don’t pay the attention to it we must, all that does is ensure a rejection and need to correct it and send it back.

This usually applies to personal information, which is so common to ourselves that we tend to go over it too quickly. So read the application while you’re filling it out, and read it again at least one more time to make sure all the required information is in it.

Reading the credit card application at least a couple of times also helps you to understand exactly what you’re signing. So many people just want their card and have no idea of the terms involved in the agreement. So go over it a minimum of two times for understanding and checking to see that all your personal information is included.

Getting help with your application

If you’ve never have filled out a credit card application before, or you’re having trouble with a new card you’re applying for, see if any of your family, friends or neighbors have the card and ask them about specifics for filling it out if you’re unsure about anything.

After that, if you’re still unsure, call the company and get the answers you need before signing. Never want it so bad that you sign up with absolutely no knowledge of what you signed.

Check your credit report

Before signing up have your credit score and report handy, along with any balances to your existing credit cards you have if that’s applicable.

That way you can take care of any things that may need to be cleaned up before proceeding. If there’s something not accurate in your report or that has been taken care of, it’s necessary to clear that up and out of your report, or your credit card application will probably be turned down.

If you have existing creditors

One important thing many consumers aren’t aware of is the way credit card companies report payments to the credit bureau. In some cases they can be a month or two behind, making it look like you’re behind.

If that’s the case, call them up and ask them to update their report to reflect your actual payments and not the timing of when they enter them.

Realistic Credit Expectations

I know a lot of people that try to get the highest amount of credit they can without regard to their income. This is a sure way to get rejected, as there are strict formulas in place by companies, and it makes no sense to get credit which you are unable to pay back if anything unexpected happens; which it always does.

Overall Household Income

Sometimes when credit is applied for, the consumer forgets their overall household income and only includes a single income. It’s best to report all your household income for the best at getting your credit card application approved. Finance companies love to see extra leeway and room to wiggle if something happens.

What if you’re rejected?

Many times a credit card application is rejected for a number of the reasons mentioned above, so don’t just accept the rejection, but call to find out what the reasoning behind the rejection was, if it’s not made clear to you.

Assuming you’re a legitimate credit risk, most of the time it’s forgetting to input information that results in your rejection, which slows down the process.

When and if that happens, just find the information and get it quickly to the credit card company and you’ll get your application approved.

Elsie

Diana asked:


I am currently 25 years old with one major credit card that I have held for nearly 10 years. I carry a few store credit cards as well. I pay all of my credit card bills on time, in full, never carrying any outstanding balances on any cards. All car payments paid on time, no student loans left…I recently checked my credit score for mortgage purposes and it was mid 600s. I was also denied a major credit card application based on my current score. What can I do to improve my FICO score??
I am currently 25 years old with one major credit card that I have held for nearly 10 years. I carry a few store credit cards as well. I pay all of my credit card bills on time, in full, never carrying any outstanding balances on any cards. All car payments paid on time, no student loans left…I recently checked my credit score for mortgage purposes and it was mid 600s. I was also denied a major credit card application based on my current score. What can I do to improve my FICO score??

In reply to comments – score pulled by bank for mortgage purposes, showed scores from all 3 major agencies. Read through the credit report fully, no red flags. I can’t figure out what pushed it down unless perhaps I just haven’t built it up enough?
Also, no changes in my credit limit.

Herbert

Mario R. Churchill asked:


Credit card services are among the widely used services today. More and more people are applying for these services. For most people, credit cards are just like money, but actually it’s not. If you’re one of them, it is advisable for you to rethink about getting a credit card application. You’re just going to drown yourself in a lot of debt.

Yes, you may be able to buy stuffs you think you need without feeling the guilt. However, when your credit card bills arrive, you’ll still feel that massive impact of guilt and regret. “I shouldn’t have bought this and that…”, this is what most people say when their bills arrive.

If you have cash with you, it is much wiser to use that cash rather than use a credit card. Paying your debts using a credit card is not really a good idea. Why? Because using a credit card would mean that you’re just paying a debt with another debt.

But if you know how to responsibly use a credit card, then feel free to get a credit card application form right now. Here are some guidelines on how to get a credit card.

First, you need to gather everything or the necessary papers for the application. That includes your driver’s license number, weekly income (before tax), repayment of amounts and balances owing on any liabilities (such as credit cards, store accounts and etc.) and details of your investments, assets or savings.

If you are applying for a corporate credit card account and you want to hand out cards to your employees, you can ask each of them to submit these requirements. Plus, you will need recent tax information if you are self-employed.

Second, is to get an application form. You can get this either by going to the office of the issuer or by logging online. One good advantage of going directly to the office of an issuer is that you are allowed to ask all your inquiries and the answer they will give you will be limitless. You can ask them about the percentage, where and when will you be able to use your credit card, how to apply for a larger credit limit and more.

However, this usually takes a lot of time and for some people, time is something they don’t usually have. If you are one of these ever so busy people, you can try the internet. There are many issuers that have put up their own websites in order for their service to reach wider range clients than in the real world.

Online, people from different places even countries can for a credit card without visiting the office of the issuer. You will still be asked to submit all the necessary papers that will prove that you are who you say you are.

As said earlier, online credit card application is a much faster way. Some credit card issuers’ web sites will allow you to complete your application within 10 to 15 minutes.

But the best thing about online application is that it will allow you to apply for a credit card account without ever leaving the comfort of your own home or office. This also doesn’t need your fullest attention, so, you can continue working while applying for a credit card account.



Michelle