10 Easy Steps How to Apply for Credit Card

We are here to know “how to apply for credit card”

All we need credit cards mostly for different purpose like shopping, travelling etc.Most of the students are also interested in taking credit cards for their educational purpose.Credit card becomes our need in these days.By Using credit cards, there is a chance of getting cashback, Rewards etc.We all know that there is lots of guidelines to be followed to apply for getting a credit card.

If you want to take a credit card for your personal as well professional use then there are lots of credit cards provider in us through which you can apply.Credit card is ultimate source of money.As we know that different providers have different rates of interests, charges, annual fee and many more.You have to select the best one according to your budget and need.

Lets look one by one about different credit cards and how to apply them.

Selection of the Credit Card Needed

Before applying the credit card, we must be confirmed about the card needed to us.There are different types of credit cards available to us.Credit cards available to us of different categories in which we have to select only one from them which is useful for us.Lets see some of the popular credit cards.

  • Student Credit Card
  • Business Credit Card
  • Secured Credit Card
  • Standard Credit Card
  • Reward Credit Card
  • Balance Transfer Credit Card
  • Limited Purpose Credit Card

These are the credit cards from which you have to select only one of them which is essential for you.

Check Rates and Importance of Credit Card

The most important things which you must ensure before applying the credit card is the rate of interest and benificial offers.Different credit cards have different offers and rates of interest.Lets know in detail.

Annual Percentage Rate or APR

APR is the rate or interest must be paid by you on the amount you borrowed or spend through your credit card.Assume you spend $1000 through your credit card and pay $200 in fees then your APR rate will be 20%.There are two types of APR we get to see in these days.

  • Fixed APR
  • Variable APR
how to apply credit card
How to apply credit card

Annual Fee

Many Credit Card providing companies like American express, Navyfederal, Citi, Chase etc charge annual fee of $50 or more for the uses of their credit card.But there are also some companies who provides these cards with $0 annual fee.This fees are most often waived or discounted if you are the regular users of the card.

Late Fee

Most of the companies charges you late fee if you pay the credit card bill after the due date.This is rare and most often charge seen by the credit card users on late payment.

Grace Period

This is the time duration between the transaction posted date and interest begins to charge.This is the relaxation period given to you by the credit card providers.

Offers

On purchasing or shopping anything using credit card gives the chances of cashbacks, offers etc.You have to choose one which gives best offers.Different cards has different offers.Research and compare amongst all the cards and after this choose one which is the best.

Credit Score

how to apply credit card

Credit score is a scale of points from 300 to 900.Here 300 is worst score and 900 is known as best score.This is an indication of trustworthiness that how timely one pay his loan or debt.If your credit score is below 700 then you are considered to have average credit score and if it is more than 700 then it is considered as great credit score.

The chances for getting credit card is the ultimate source of good credit score.If you put good credit score then your chances become more to get credit card or debt.

How to Apply for Credit Card in American Express

Before applying credit card in american express, you must imply these things in minds.Lets know

  • Must be 21 years old and if less then permisson granted by parent.
  • Don’t have social security card.

Check your Credit Score

Credit score is thought to be one of the basic requirement for getting loan or credit card.But this is not everything, income also matters.Many of the credit card providers clearly published the minimum credit score for applying credit card.Unless you do not satisfy this minimum credit score, your application will not be considered.

Experts and bankers states that the credit score of 700 or more is considered to be better score for qualifying most of the cards.The higher the credit score, higher will be the chances for getting credit card.Now some of the card providers are also here who provides card with 600 or bad credit score.

How to check Credit score

There are different methods available on internet to check your credit score.Some of the banks charges a little bit of money to show your credit score but some ways are also there where you need not to pay any money.

Lets see the ways how you can check your credit score.

  • Check your credit score by major agencies like Equifax, Transunion, Experian.They offer one free credit score report everyyear.
  • Check through the major apps like credit karma.
  • Check through your monthly bank statement.Some financial institution provides credit score together with bank statement.

Choose the best one you wish

As we know that there are different types of credit cards available on market.Before selecting anyone from them, you have to research the best option.According to use, you will get different options like

  • Balance transfer credit card
  • Rewards credit card
  • Student credit card
  • Secured credit card
  • Unsecured credit card

Check if you are qualified or not

Before Getting the credit card, you must be preqalified for that card.This is just same as interview before qualifying for the job.Credit card providers will verify whether you are eligible for this.They initially judge you by soft credit inquiry which doesn’t involve your credit score.

If you choose to apply after soft inquiry then they will start hard inquiry.In this, credit score matters.Most of the banks also offers direct prequalification option and some others directly send you offer to apply for the card.Prequalification means not your credit card become approved.It is same as a test before the exam.

Complete the application form

The last and foremost important steps for getting credit cards is to fill an application either by online or offline.The most significant way for applying form means online.Through online, you get the decision within a minute whether your application form is accepted or not.Lets know the things required for applying form.

  • Name of the person
  • Date of Birth of the person.
  • Social security number of the person.
  • Signature of the person.
  • Gross annual income of the person.
  • Housing situation.

These are the things required before applying the credit cards.This is a legal document so be careful.

How to Apply for Credit Card in US Bank

us bank credit card
source:usbank

The process of applying credit cards to any of the credit cards issuers is same.We will try here how you can apply credit card in US Bank through online banking.

  • First sign in the online banking of usbank.
  • After visit the credit card section.
  • Choose the card you want to apply.
  • After you proceed for applying online.

Except this, you can proceed through US Bank mobile banking.This is possible only after dowloading US Bank mobile app.Lets know step by step.

  • First download the app.
  • Now sign up or login to the app.
  • Now click on Explore and apply option.
  • Select the credit card you want.
  • Now proceed to Apply now.
  • Complete the Application form by submitting the detail.

Through these simple steps, you can apply credit card in US Bank.

How to Apply for Credit Card in Bank of America

If you want to apply Bank of America Credit Card, you must meet the eligibility criteria required by Bank of America.Lets see the requirement set by Bank of America.

  • You must be 18 years old or more.
  • you must be an american citizen.
  • You must have salary slip.

If you fulfill the above, you can proceed further for applying credit card.For applying Bank of America credit card, you have to go bank of america official website.In website click on credit card section, here you get different types of credit card for different purpose.Choose the one which is needed by you.

After selecting the card, you get a blue button in the bottom for apply now option.Just click on this option and fill the information and lastly click on submit now.Through this way, you can apply for credit card.

Conclusion

In this article, we try to provide you some tips how you can apply for credit card.We have also talked about those things which must be considered before going to apply credit cards.We detailed explain the way how you can apply for credit card with risk free.We also talked about the importance of APR, Credit score etc.

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How to apply for credit card with bad credit?

There are many credit card providers who provide credit cards with 0 or no credit.This means, if your credit score is bad or having no credit score then you have also a chance.Navy FCU nReward Secured credit card, Tomo credit card, Opensky secured visa credit card etc are the example of best credit cards which require no or bad credit score.You can apply in this credit card by visiting their site.

What is the easiest credit card?

Student credit card, Secured credit card are those credit card which are easily approved.These credit are the initial phase of credit card journey where you got the chances of improving credit score.These cards help in the establishment of credit score.

Why should we apply for credit card?

These are the major reasons why you should apply for credit card.Lets see.
1.Work as a emergency money.
2.Help in improving credit score.
3.No fear of theft of money.
4.Get interest free money.
5.Get cashbacks or rewards on purchasing.
6.Protection on payment
7.Help in online purchasing.

How to Apply for credit card for first time?

For the first time when you want to apply the credit card, you must ensure this important things.
1.Know how credit card work.
2.Check credit score.
3.Know the annual fee charges.
4.Know the APR rate.
5.Know the important benifits.
6.Start with starter credit card.

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