How to Apply for a Credit Card in 7 Simple Steps

Some credit card issuers allow you to see if you’re preapproved or prequalified for their credit cards. You’ll need to fill out a form and submit your personal information via the card issuer’s website. Once you’ve submitted the form, the card issuer will initiate a soft inquiry on your credit report. A soft inquiry will not affect your credit score.

If you receive a preapproval notice, you’ve met all the lender’s criteria thus far. A preapproval indicates you are likely to get approved, but approval is not guaranteed. You’ll still need to apply for the card to be fully approved.

Your credit score is a creditor’s first line of defense in determining your creditworthiness. A lot of weight will be put on your credit score when you apply for a credit card. Knowing which credit score range you fall in will help you identify the right cards to apply for. 

For example, if a credit card company advertises cards for people with excellent credit (800+ credit score) and you fall in the “fair” credit range, then you’ll probably want to steer clear of that specific card. 

Credit scores consider your payment history, credit utilization, credit age, credit mix, and how often you apply for new credit. You can check your credit score through a credit card issuer or by ordering it from one of the three main credit bureaus: TransUnion®, Equifax®, or Experian®.

Here is a breakdown of the credit score range:

To narrow down your list of options, start thinking about what you need from a credit card. For instance, if you have no previous credit history or score, you’ll want to look for a credit card that doesn’t require those, such as a secured credit card. Secured credit cards are a common tool for beginners to build credit and only require a cash deposit to open.

You can also consider a retail credit card if you’re new to credit. Store credit cards are generally easier to get approved for, but be careful: They often incentivize you to shop at a retailer more than you might otherwise. If you’ve already got a solid credit score from previous credit cards or other types of loans, you may be able to apply for a rewards card. 

Rewards credit cards offer incentives to consumers with stronger credit scores, such as cash back or travel rewards. There are several types of credit cards, so do your homework to figure out which ones best cater to your needs. And remember: It’s OK to have multiple credit cards as long as you can keep up with the payments.

Every credit card has a unique set of terms and conditions that detail the agreement between the credit card issuer and holder. The credit card issuer should have the terms and conditions readily available for you to see before submitting their application. 

Credit card terms and conditions can include fees that holders are responsible for, interest rates, and the card’s annual percentage rate (APR). If the credit card comes with a rewards program, the details of how a holder claims their benefits can also appear here.

Always check the terms and conditions of a credit card before applying so that you understand what fees you will be responsible for and which rewards you are entitled to. An understanding of your agreement with a credit card issuer is vital to keeping your credit healthy. 

Now that you’re ready to apply for your credit card, you’ll need to choose how you want to do it. Depending on the card issuer, you may have a few options:

• Applying online will probably be the quickest and most convenient method — you may even get approved instantly.
• If you prefer a face-to-face experience, you can also apply in person. Applying in person will allow you to receive a quick response on approval, and you can ask questions in real time.
• You may also apply over the phone, but you might be put on hold for a while.
• The last and least convenient option is applying through the mail. If you opt for this method, it could take weeks to receive a response.

No matter which route you choose, getting approved for a credit card will probably be easier if you apply at a bank where you already have a checking or savings account. 

This is especially true if you’ve demonstrated responsible account management by avoiding overdrafts and keeping up with payments.

To speed up the credit card application process, come prepared with the information you’ll need to apply. 

Application requirements can vary from issuer to issuer, but in general, this is the info you should know beforehand and have proof of:

• Full legal name
• Social Security number or individual taxpayer identification number (ITIN) 
• Address (you must have a valid U.S. address)
• Date of birth
• Annual income
• Housing costs
  

In addition, a card issuer might ask for subsidiary information, such as how long you’ve been at your current address and if you own or rent your home. They could also ask about your current employer, your main source of income, and any assets you may have.

Congratulations on selecting a credit card that meets your needs, gathering the necessary documents, and filling out your application! Now it’s time to submit the form and wait for the results. Depending on the health of your credit report, application approval can take a few minutes or a few days. 

After you click submit, a hard inquiry may impact your credit score. That’s why it’s a good idea to limit the number of credit cards you are applying to at the same time. The good news is that the effects of a hard inquiry are often temporary.

Learning how to apply for a credit card is a smart first step toward building your credit history. After you find the perfect credit card for you, learn how to maintain a healthy credit score.

Still have questions about how to apply for a credit card? We’ve got answers.