Do you know what you need to get a credit card?
Do you know what information is required? Do you need a job to get certain types of credit cards? Before you sit down and apply for your first, or even your next credit card, spend a little time gathering the information that you need to get that credit card, and you’ll greatly increase your chances of getting the card you want.
First, and foremost, if you aren’t sure where your credit score is, consider getting an update on your credit report. Especially if you’ve had credit in the past, have had major lifestyle changes (like divorce, bankruptcy, change of employment, or you’ve moved), or if you’ve acquired or paid off any recent credit obligations (credit cards, car loans, mortgages, etc.), then your credit score may have changed without your knowledge.
If you don’t already have a credit monitoring service, consider signing up for a service, like GoFreeCredit 3-in-1. GoFreeCredit 3-in-1 offers you a 7 day free trial period, and you can get credit scores and reports from all three major credit bureaus. Having all three credit scores and reports is actually very helpful since all three will vary by a few points, depending upon what information about your personal finances has been shared with each.
Once you know your credit score, then you’ll be better able to find the best credit card offers to fit your financial status. Then, you can compare offers, and apply to the ones that offer you the best APR, the lowest (or no) annual fees, and/or the best rewards. (If you haven’t already selected the offers that best fit your financial status, consider visiting this portion of the website now: Credit Card Offers by Credit Rating
Finally, once you’ve looked at your credit score and chosen the credit card or cards that offer you the best terms for your financial status, it’s time to gather what you need to get a credit card:
- Full Legal Name – For most of us, this is fairly self explanatory, however, if you have recently married, divorced, and/or changed your legal name, the application may ask for current and previous information.
- Current Address – Again, seems fairly simple, right? Not so fast. If you’ve moved in the past year to two years, or if you’re occupying a temporary residence, such as a dorm, working out of town, etc., be sure that you provide your permanent address, and not your temporary address. You may also need to provide previous addresses for up to five years, depending upon the credit card provider that you choose.
- Home, Cellular, and Work Telephone Numbers - Literally every credit card company will ask for your home, cell and work numbers. Some credit card providers may even ask for the name, address and telephone number of your nearest relative. These numbers are vital to them, because, in the event that you cannot pay your bill, they will use every bit of information that they gather to contact you regarding payment.
- Employment status – Just because you don’t have a conventional job does not mean that you will not be approved for a credit card, and most credit card providers take all types of income into consideration when you apply for a credit card. So, in addition to name, address, telephone, etc., for your current employer, if any, you’ll also want to have the total amount of monthly and/or annual income for your household when you apply for a credit card. (Be honest! If you’re unemployed, disabled, etc., say so. And, don’t falsify your monthly or annual income! Doing so will most likely not raise your initial credit limit. So, make sure that you give the correct information on your application.)
- School information – If you are a student, in addition to your current employment status, be prepared to provide your current enrollment information, including the school you’re attending, your status as a student, and other pertinent information. (In addition, depending upon your age, you may be asked for a co-signer on your credit card. This means that your parent and/or guardian will be responsible for paying your bill in the event that you do not make your payments.)
- Additional Cards – In the event that you would like another individual who will carry a credit card and will be authorized to make charges on your account, you may enter that information on the application. Typically, this will be your spouse, domestic partner, child, and/or other relative, however, you can legally give your authorization to any individual to have a card and access to your account. However, be advised that you will be personally responsible for all charges to your account, including those by authorized users named by you.
- Date of Birth and Social Security Number – You will be asked to provide your date of birth and your social security number in order to be considered for any credit card, and if you want to be approved, you must provide this information. It will be used to check your credit score and verify your credit history.
Normally, this is the information that you will need to get a credit card, and sometimes you will receive instant approval via your online application. However, in some instances, the credit card provider may ask for additional information and/or verification of employment status, income claims, etc., in order to determine if you qualify for their credit terms. Don’t be discouraged if you’re notified that they will need an additional ten days to process your application, this may mean that they are simply verifying your information, and you will open your mail one day and discover that you have been issued the credit card that you apply for today!