How to Get a Credit Card

Question 1

What are the 5 steps to getting a credit card?

Answer 1

1. Check your credit score
2. Choose between rewards and financing
3. Shop around
4. Read the fine print
5. Apply for one card at a time

Question 2

Which Credit Card fits your scenario?

Answer 2

New to credit = Starter Credit Card
Rebuilding Bad Credit = Secured Credit Card
In College = Student Credit Card
Making Everyday Purchases = Rewards Credit Card
Already in Credit Card Debt = Balance Transfer Credit Card
Going to Carry a Balance = 0% Intro Rate Credit Card
A Business Owner = Business Rewards Card (for everyday spending)

Question 3

How long does it take to get a credit card?

Answer 3

7-10 days after being approved with a realistic date of 14-24 business days.

Replacement cards could take 3-7 business days based on the issuer.

Question 4

What are the 7 steps to getting a credit card for the first time?

Answer 4

1. See if you have a credit report and score
2. Determine whether student credit cards are an option
3. Compare secured and unsecured start cards
4. Limit your search to cards with the lowest fees
5. Choose the best remaining offer for your needs
6. Confirm you have enough income
7. Submit your credit card application

Question 5

I need a credit card today. Which should I apply for?

Answer 5

American Express and Capital One credits cards, and some Store cards offer instant use.

Question 6

What is the Check Your Credit Score step?

Answer 6

Credit cards have minimum credit requirements, so you can’t pick a card if you don’t know your score. Even if you’re applying for your first credit card account, you could have some credit history from being an authorized user in the past.

Question 7

What is the Choose Between Rewards and Financing step?

Answer 7

All else being equal, a card with no annual fee is obviously better than a credit card with a fee. But how do you balance interest rates and reward? it all depends on whether you plan to pay your bill in full every month. if you do, focus on rewards because rates won’t mater.

Question 8

What is the Shop Around step?

Answer 8

Comparison shopping is the best way to find the best deal. After all, you’ll have no idea how a given credit card compares to other available offers if it’s the only on you consider.

Question 9

What is the Read the Fine Print step?

Answer 9

It’s a good idea to double-check a credit card’s terms and conditions as well as its benefits guide prior to applying. This way, you won’t have any surprises later.

Question 10

What is the Apply for One Card at a Time step?

Answer 10

Casting a wide net by submitting numerous applications at once won’t ensure that you catch at least one credit card, Rather, it will hurt both your credit and your chances of approval. So if you don’t get approved the first time around, set your sights a bit lower, Even consider placing a deposit on a secured credit card.

Question 11

What are the three methods of applying for a credit card?

Answer 11

1. Online applications
2. Paper applications
3. Applying over the phone

Question 12

What do you need to sign up for a credit card?

Answer 12

1. Be 18 years or older
2. Have enough Income or Assets to cover monthly payments
3. Valid identity
4. U.S. mailing address