5 Secrets to Getting Approved for a Credit Card

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when used responsibly credit cards can be a great way to manage your finances and to earn rewards but getting approved for a credit card isn’t always a straightforward process before you apply make sure you know these bike secrets that will increase your chances of being approved in Canada your credit score is a number that falls between 300 to 900 the higher score the more likely you are to be approved for a credit card card issuers can be surprisingly discreet about the credit scores they look for but all of greedy rates credit card reviews provide an approximate range of where your credit score should be before you apply if your score is below our recommended range you may want to consider a different credit card or wait until after you’ve improved your score before applying for the card you want you can benefit from a secured credit card as long as you’re willing to make a small security deposit your credit score will slowly increase as you make your card payments on time and eventually your score will be high enough for you to qualify for traditional credit cards every time you apply for a new credit card a hard check is done on your credit profile which can result in a decrease of around 10 points to your credit score furthermore creditors may interpret multiple applications in a short time as a red flag because it implies you’re desperate to access more credit there’s nothing wrong with applying for multiple credit cards but you may want to spread out your applications over the course of a few months premium credit cards require a high personal or household income to qualify but that doesn’t apply to just your main job when filling out an application be sure to add up all your income which could include side hustles rental income and even interest on your savings in the very rare event that the credit card issuer asks you for proof of the income you claim provide them with your tax documents from the previous year unless you’re instantly approved you should always call the credit card provider to find out the status of your application in some cases a rejection or pending status may have occurred because they’re missing some basic info by calling in you can answer any questions they may have and hopefully get approved quicker you can read more great credit card tips on greedy rates see a thanks for watching be sure to LIKE comment and subscribe

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License: Creative Commons