Get Approved for a Credit Card With Your Credit Score

Steps to Take to Get Approved for a Credit Card

Credit cards are increasing in popularity as the years go on. More and more people are starting to apply for a credit card. They are a great tool to build credit and to improve your credit score. So there are a few things you’ll have to do to get approved, and this article will discuss them. By the end, you’ll have a good understanding of how to get approved for a credit card.

Learn how to get approved for credit cards for your credit score.

Step 1 – Find Out What Your Credit Score Is

You will need to know what your credit rating is before you apply for a credit card. This is one of the main reasons to get approved. Each credit card will consider your credit rating when you apply for a credit card.

Credit Score Ranges

Rating Score Range
Bad 550 and Lower
Poor 551 to 649
Fair 650 to 699
Good 700 to 749
Excellent 750 and Up

The higher your score is, the more likely you are to get approved for a credit card. If you’re thinking about getting a rewards card, you usually have to have an average or excellent credit rating. If you’ve had problems paying on time in the past, it may be a good idea to wait. You want to have the best score possible, and you can do this by:

  • Avoid Applying New Debt
  • Keep Your Existing Credit Card Balances Low (Less Than 30 Percent)
  • Make Every Payment on Time

You may also want to look into credit cards for people with bad credit. These cards can help build credit and help you get approved for a rewards card. You’ll also be able to get approved for better rates.

Step 2 – Lower Your Balances or Debts

Once you know your credit rating, work on lowering your debt. This accounts for 30 percent of your credit rating. It is called your credit utilization ratio. They get this number by taking your balance amount and dividing it by your credit limits. For example, if you have a $10,000 credit limit, you should try to keep it below $3,000. This will help improve your credit rating. If you’re over 30 percent, take the time and work on paying down your balances. You can also pay off your balances more than once a month. This will keep your running balances lower each month.

Step 3 – Make On Time Payments

Your payment history accounts for 35 percent of your credit rating. If you want to improve your chances to get approved, start making each payment on time. Also, a good payment history will look good to your potential issuers. They want to see that you’ll make your payments if they give you a line of credit. Late or missed payments can drop your credit rating quickly. They will also make lenders more hesitant to work with you. Set up reminders if you’re prone to forgetting. Anything you can use to avoid late payments, do it. It’ll only benefit you and help to make your credit rating go up.

Step 4 – Research Credit Cards

You want to get approved for the offer that suits your lifestyle the best. So if you don’t travel, a rewards card with miles doesn’t make much sense. If you’re trying to consolidate your credit card debt, a balance transfer card may be best. They offer zero percent APR for an introductory period. This will help you pay off your balances quicker, and with less interest. If you shop a lot, try a card with cash back rewards. As soon as you find a card that fits you, start the application process. If your credit rating is lower, you may have problems getting approved for a card with generous sign-up offers.

Step 5 – Report All of Your Income

When you’re filling out your credit application, report all of your income. Any credit lender has to be able to calculate your debt-to-income ratio. They do this by adding up your monthly income against your open credit. They also have to see what your ability to make payments is each month. Your income will give them a good idea. If you earn money outside of your regular job, report it. However, don’t overstate your income amount. If your credit card issuer finds out you lied about your income, there are consequences. Possible charges include credit card fraud. This carries a possibility of a $1 million dollar fine. There is also the possibility of spending 30 years in prison.

Step 6 – Secured Credit Card

If you can’t get approved for a traditional credit card, try a secured credit card as a last resort. This is an excellent tool to build your credit on a short-term basis. This works for you putting a deposit down, and this is your line of credit. For example, if your card has a $400 limit, you’ll have to put a $400 deposit down. If you make your payments on time, you can get a higher credit line. You may also get to transition to an unsecured card after a year of on time payments. This isn’t meant to be a long-term fix. It will help you raise your credit so that you can get approved for a better card. These are the Credit Fast best secured credit cards.

Finally, If you don’t get approved right away, work on your credit. You will eventually get your credit rating high enough to get a decent card. As long as you do your research and know your credit rating, you’ll so fine. If you use this article as a guide, you should be able to get approved.

CreditFast has reviewed the best credit cards for fair credit on the market. Some of the credit card offers are from our advertising partners. CreditFast has objectively reviewed the features and benefits of each credit card. We have chosen credit card offers for average credit based on our editor’s recommendations.

Monica Kowollik

Director at
Monica has covered credit card and personal finance news for over 15 years. From an early age, she developed an interest in financial literacy and saving money. Monica hopes to help others to improve their personal finances one article at a time.


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