Applying for a credit card might look trivial, but trust us, it is one of the most significant financial decisions you’ll ever make. Whether you wish to earn rewards or get rid of debt, you must take essential measures to get approved for a credit card. 

In hindsight, there are some things you can do to improve your credit card eligibility, like building your credit limit or clear your debts. This blog will walk you through the steps to help your application get a green light from the card issuer. So read till the end to learn how to get a credit card easily. 

Evaluate Your Credit Score 

The first thing a card issuer notices about an applicant is their credit score, which determines whether they are eligible or capable of repayment. People with high FICO scores get easily selected for a range of cards, whereas having fair to low scores limits the options. 

Having a basic understanding of FICO is necessary, even for people just starting. Look at the table below to learn the classification:

CIBIL Score Range Rating 
740-799Very Good

The next step is to check where your credit score stands. You can get your report for free from the credit bureaus. This will help you determine which range you fall into, and you can look for a suitable card based on your eligibility. 

Compare Credit Cards with Your Financial State

Each credit card has different fees and caters to a specific group. You must prioritize whether you want to build credit, have travel-friendly cards, or earn high rewards. Explore the market and find out which cards fit your needs, income, and spending habits. 

Here are some points to help you compare the credit cards:

  • Consider cards with zero to low annual fees with decent rewards if you’re hesitant to pay high maintenance charges.
  • Look for cards offering cashback and rewards on everyday purchases. 
  • Find cards with minimal fees and APR so you do not get trapped in debt for missing a payment. 
  • Check out all the credit card terms such as welcome bonus, balance transfer, cash advance, and foreign transaction fees. 

You can choose from introductory credit cards, rewards credit cards, travel credit cards, and other options based on your financial situation and needs. 

Consider Secured Credit Cards 

If you’re keen on building credit but do not have a decent financial record to qualify for the premium credit cards, you can go for secured cards. 

Cash deposits serve as the security for these cards. When payments are missing or are made after the due date, the deposit serves as security and collateral for the issuers. Usually, the amount deposited sets the card’s spending limit.

Keep in mind that credit cards with no credit check can also be an excellent option for those with little to no credit history.

Make On-Time Payments 

The best way to increase your chances of being approved for a decent credit card is to always pay your bills on schedule. 90% of the lenders use your FICO score, which accounts for 35% of your credit score and is influenced by your payment history.

A track record of on-time payments not only helps you get a higher score but also indicates to lenders that you are a reliable borrower. However, failing to make payments can lower your credit score and cause it to stay on your record for seven years.

You must pay off your bill in full each month to avoid interest charges. Additionally, set up recurring payments for the minimum amount because that will guarantee you never forget a payment.

Avoid Debt 

Getting trapped in too much debt, not only hampers your financial record but also takes away your peace of mind. If you have outstanding debt for any type of loan, it is recommended to pay off the balance first before applying for a credit card. 

Keep Your Credit Utilization Rate Low 

Your credit utilization is the ratio of the credit you use to the overall credit that is available to you. To get your credit utilization ratio, divide your credit card balance by the card’s limit and multiply the result by 100.

Maintaining a lower credit utilization ratio is ideal. Before taking any debts, use a personal loan calculator to make sure that it will be below your credit utilization limit. Ensure that your ratio is less than 10% for the highest scores, or at most 30%. 

Don’t Apply for Multiple Cards at Once 

Applying for more than one credit card at the same time can turn out to be a silly decision. Sure, the reward rates and loyalty programs for the other card might look fascinating but applying for it will leave a huge strain on your score. 

Every time you apply for a card, the issuer performs a hard credit check on your report, which temporarily hits your score. As a result, it is recommended that applicants make careful decisions when applying for a new card and allow at least six months between applications.

Submit Your Application Strategically 

Instead of directly applying, you can check eligibility for a credit card

and apply for pre-qualification. The benefit is that this process only requires a soft credit pool to check eligibility, which does not impact your FICO score. 

Start your research and find out the cards within your credit range that have the pre-qualification process and sort out the ones relevant to you. After doing so, calculate the approximate monthly credit card repayment to check if it fits your pocket. If it does, fill out the application form with your personal and financial information and verify your identity. 

You can also choose to become an authorized user on someone else’s card if you face a hard time getting accepted. This way you can improve your FICO record upon responsible usage and apply for a new one later on. 

So these are the best ways to get a credit card. Just make sure to be mindful of the card usage and follow the above-written steps to get approved for a credit card easily. 

We hope you find this article useful in mastering the credit card approval process.

Read Next: Credit Card Standard Size, Weight, Material, and Dimensions 

Frequently Asked Questions 

Ans: The applicant must be at least 18 years old and have a minimum monthly income.

Ans: You must apply for the card via the online application portal for faster approval.

Ans: You might not have the FICO to meet the eligibility for the credit card.