{"id":63612,"date":"2018-02-28T13:37:16","date_gmt":"2018-02-28T13:37:16","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?page_id=63612"},"modified":"2024-11-21T16:23:54","modified_gmt":"2024-11-21T16:23:54","slug":"credit-card-application-tips","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/credit-cards\/credit-card-application-tips","title":{"rendered":"Credit card application tips"},"content":{"rendered":"

While applying for a credit card doesn\u2019t have to be complicated, it can come with certain risks. After you\u2019ve applied for a card, the credit card issuer will look at your income, expenditure, credit history and any documents you\u2019ve provided in your application. They do this to determine whether you\u2019re a high or low-risk applicant. Essentially, they\u2019re looking for signs that you have the ability to repay the money you borrow. While making sure you meet the eligibility requirements is crucial, there are some other ways to improve your chances of approval when applying for a new credit card.<\/p>

Use this guide for 12 tips to increase your chances of approval including what to do before you apply and how to submit your application, plus mistakes to avoid.<\/p>

How to prepare before you apply for a credit card<\/h3>

The pre-application process is considerably more important than the act of applying itself. While it may take only 15 minutes to fill out the form, getting your affairs in order so that you\u2019re ready for the bank\u2019s assessment of your application will take a bit more time and preparation.<\/p>

Tip #1. Take your time<\/h4>

It\u2019s never a good idea to rush into things, and it is your right as a consumer to assess the bank before it assesses you. Don\u2019t jump at the first credit card deal you see because that\u2019s not always going to be the right one for you. Instead, spend some time comparing your credit card options<\/a> and doing your research so you can find a card that suits your financial needs.<\/p>

Tip #2. Know your needs<\/h4>

There are many types of credit cards available on the market to suit different types of cardholders. Before you begin your search, spend some time considering what you want, need and can afford with your next credit card. For example, if this is the first credit card<\/a> you\u2019re applying for, you might want to apply for a student credit card if you\u2019re enrolled in university, consider a low rate credit card if you want to keep interest costs to a minimum or apply for a low-income credit card to ensure you meet the eligibility requirements.<\/p>

If you\u2019re a regular spender who regularly repays their balance, a frequent flyer credit card might reward you for your spending. If you have some big ticket items in mind but want to keep your interest costs low, a 0% purchase rate credit card<\/a> could come in handy. Otherwise, if you\u2019re struggling to repay an existing debt, a balance transfer credit card<\/a> with a 0% promotional offer could help you get your finances under control.<\/p>

Tip #3: Compare your options<\/h4>

Once you\u2019ve decided what type of card you want, it\u2019s time to begin comparing your options. Using the reviews on finder.com, you should compare<\/a> the following to ensure you understand the costs and benefits associated with each card.<\/p>

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