Top Tips For Filling Out Credit Applications

Introduction

Anyone on the market for a new credit card will need to complete credit card applications. While this may sound easy to do, there are some things that you should know about in order to increase the likelihood of being approved for the credit card while protecting your credit score and personal information at the same time. Of course, ensuring that your credit is good and that you have all of the information that you need in front of you whenever you're filling out credit applications will make the process shorter and easier.

 

Step 1

Before you fill out credit applications you should make sure that your credit score is as high as possible. To do this youll need to request a free copy of your credit report from TransUnion, Experian, and Equifax. You should do this on a yearly basis. Look for anything that is incorrect and file a dispute about it. If the credit bureau is unable to verify a negative item, the law requires that they remove it from your credit report. This will improve your credit score, making it more likely for your credit applications to be approved.

 

 

 

Step 2

Review your credit report in search of any accounts that are listed as “past due.” You should pay these and make them current because most credit applications will be denied if it looks like you're struggling to meet your current obligations. Make sure to also resolve anything else that is negative (i.e. charge-offs, accounts that have been sold to a debt collection agency). This should be done at least 60 days prior to filling out any credit applications.

Step 3

Write down the names of any credit cards that interest you. Prioritize them based upon their interest rate, annual fee and reward programs. Only apply for 2 credit cards within a 6-month period. Otherwise these credit applications will lower your credit score. If one application is denied, move onto another one.

Step 4

Whenever you're filling out credit applications you should have all of the necessary information close at hand. This includes information about your salary, Social Security number, other credit accounts, bank account, drivers license number and information about any other types of income you may earn. These are all things that you will be asked about as you fill out credit applications.

Step 5

Today, you can actually fill out the majority of credit card applications from the comfort of your own home thanks to the Internet. This can be done at any time of the day or night, which makes it very convenient. Any website that is not “https://” should be avoided. This is important to always remember because whenever you're filling out a credit application you are providing the company with your personal, sensitive financial information, which, if it were to fall into the wrong hands, could be used to cause identity theft.

Tips

You can get a free copy of your credit report from AnnualCreditReport.com each year.

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