How to get a credit card?

How to get a credit card? Getting a credit card is a simple process and has no complicated steps.

In general, you can compare credit cards online, complete an application, and wait for approval or denial. Once approved, your card will come in your mail a few weeks later.

Although the process of getting a credit card is simple, you must do a little bit of homework to get the best credit card.

In this article, we are going to walk you through the process of getting a credit card.

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1. Decide why you need a credit card

Knowing the reason you need a credit card should be your first step.

Why can’t you use a debit card? Maybe you want to build your credit and increase your credit score. This step will help you know if a credit card will be your best option.

2. Know what your credit score is

If you had credit cards before, you will have a credit score. Check the score before you apply for another card.

The score can help you know if you will be approved for other cards or not. For example, a lot of card providers will deny your application if you have a bad credit score.

There are chances that you have a credit score even if you never had credit cards before. For example, you could have built credit buy having a mortgage or car loan.

Now that you know your credit score, it is time to move to the next step.

3. Do you want to finance your cards, build your score and credit, or get rewards?

Knowing the sole purpose of your credit cards will help you choose a specific card that will work for you.

If you want to finance your card, for example, having a 0% Annual Percentage Rate (APR) could be good for you. A 0% APR will give you a chance to use your credit cards without paying any interest on the outstanding balance.

On the other hand, if you want to benefit from rewards, having a card with high cash rewards would be beneficial.

Keep in mind that cash rewards you get will benefit you only if you pay all your balances on time. If you fail to pay off your balances, the cashback you get on your purchases will not make any difference because of ballooned interest charges and penalties.

Furthermore, paying off your bills will help you build your credit and improve your credit score.

4. Compare multiple credit cards from different companies

There are multiple card providers out there. To get the best deal, you will need to shop around and choose one that meets your needs.

After finding your favorite card, you will move to the next step.

5. Apply for the card

You must submit your application in order to get the card. Every company has different requirements and terms for the application.

Just follow the steps necessary until the application is done. Your identity must be verified before a card is issued. Your application can ask you to provide some of the following information.