With the digital transformation of most financial services, you can now apply for a credit card online and get instant approval and access to credit card offers. While getting a card has become easy, qualifying for it means meeting the credit card company’s eligibility criteria.
By following good financial habits, you can boost your chances of approval and meet your needs for daily and emergency expenses.
6 Tips To Getting Your Credit Card Application Approved Quickly
1. Research And Compare Cards To Check Your Eligibility
Each credit card comes with its own eligibility criteria comprising minimum income, employment status and age. Applying for a credit card you might be ineligible for can cause unwanted rejections and affect your credit score adversely. Choose the right card before you apply to avoid this scenario and set yourself up for success.
2. Fill And Review The Application Form
Paperwork mentioning correct personal details like name, residential address, and other information is essential for getting quick approval. Any mismatch can result in delayed processing. The best thing you can do is check all your documents and even review your application before submitting it.
3. Prove Your Creditworthiness
A healthy credit score makes your application more appealing. Make sure you pay monthly loan instalments on time, and do not default on credit to improve your credit profile. Responsible behaviour will help you get quick approval from a credit card company.
4. Get A Co-signer For Your Application
A co-signer can help you get approval on your application if he or she has a good credit rating and income. This way, you can bridge any gaps in your profile as the co-signer takes the responsibility of paying credit card bills if you can’t. This reduces the risk as perceived by the credit card issuer and ensures quick approval.
5. Choose A Secured Credit Card
Apply for a secured credit card if you are struggling to get your application approved due to a poor credit score. In this case, you have a deposit with a bank and your credit card limit is around 80-100% of your FD. Getting an FD-backed card will help you get instant approval. Once your credit score improves, you can apply for an unsecured credit card and upgrade.
6. Do Not Apply For Multiple Cards At Once
To get a credit card apply once at a time and wait. Avoid applying for multiple cards, which reflects negatively due to hard enquiries that are run by credit card issuers and third parties while assessing your application.
Applying for a credit card demands research, scrutiny and preparation. Increase your chances of getting your application approved significantly by following these tips. You can get instant approval online and save money thanks to a range of credit card offers with the One Credit Card.
Earn 5X reward points on your top two spending categories each month and get a visual analysis of your spends via budgeting tools on its advanced mobile app. Download the One Credit Card App and virtually activate your card within 5 minutes of approval. Apply online to get this lifetime-free credit card today.
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