Credit Card Apply Process: Online vs Offline
Getting a new credit card can be quite tedious if you apply in person. It is a good thing that you can go online and submit a credit card application. A simple one page form requiring your information to be typed in and that is it. You’ll be surprised at how fast you can be approved when you apply for a credit card online. Sometimes issuers can approve you within minutes as opposed to sending applications in the mail which could take days or weeks.
Knowing the convenience of applying for a credit card online is important but that is only part of the strategy in getting approved for a good credit card
Make sure to check your credit score with the 3 credit scoring agencies: Experian, Equifax, Transunion to get a good idea of where your credit stands before actually applying for a credit card. Is there a strong reason for checking your credit report? Credit card companies may look at any of the credit bureaus when they receive your application. The report will show if you there are negative details recorded such as late payments, missed payments, etc.. If you feel that the report shows anything in error make sure you have it removed instantly. You can actually have these records removed yourself if you bring it up with the credit reporting agencies. If they are not able to verify the delinquency then it will be removed automatically. By cleaning up your credit report your credit score will improve and give you a better chance of approval when applying for the credit card you desire.
Accurate Information On Your Credit Card Application Is paramount
Just like any other credit card application you will need to input your name, address, phone number, income, etc.. In order to verify your identity they may ask specific questions only you would know. When inputting your income information you can use your previous year’s tax return or paycheck. Some credit card issuers may sometimes request additional verification on your other credit accounts if you have any. Have your bills handy as they may need to have you input the name of other creditors and / or current balances on the accounts.
There are quite a number of credit cards with rewards when selecting a credit card to apply for
It can be quite fun using your credit card as some offer really great benefits: gift certificates, gasoline rewards, points, cash back, airline miles and more.
Instant approval credit card offers are also available giving you fast approvals instead of waiting days or weeks with offline approval processes. If you are short on time an instant approval credit card may be the way to go.
You will have a better probability of getting a credit card if you apply to 2 offers (one after the other and not at once).
Select the credit card that you desire the most and submit your application. Credit card applications denied? Don’t worry. It is not the end of the world. You may need to take some more time to build your credit up. Take a breather from applying for a new credit card. A good amount of time would be about 8-12 months. Take advantage of that time to build your credit. Do not have any late payments during that time as it will reduce your credit rating.
Accuracy is always key to submitting any application as it will need to be verified by the credit card company
Before actually submitting your credit card application do one last check to make sure that there are no errors in the details. Even a misspelling of your name can result in the credit card company returning a disapproval of your application.