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