The Credit Card Application – What you should Know

Some time or another in most of our lives we will be faced with filling out a credit application. This is almost seen as a rite of passage; and is often the way that many people start their credit histories.

Though it may seem that filling out an application for a credit card would be a simple process, there are certain things that you should know in order to make the process easier and more beneficial for you. There are certain guidelines that credit card companies go by in order to determine whether or not an applicant qualifies for one of their cards, and when you know these guidelines up front it can help.
First of all, there is certain information that you must provide in order for your card application to be considered. This includes, of course, your full legal name, physical address, and social security number. It often includes your bank account information as well. When that is asked for, you are required to provide it if you want your application to be considered. You do not have to provide your telephone number if you would rather not, but you do have to enter something in that box. If you don’t actually have a phone, you should enter all zeros. If you simply would rather not provide your phone number, you should enter all nines.
When the credit card application asks for your income, be sure to include all of your income, not just the income from your primary job. There will be a minimum monthly income requirement that you must meet in order to qualify. Even if the income from your primary job more than meets the requirement, reporting any extra income may help you to get higher credit limit. If you have an e-book that you sell over the Internet, for example, or you refinish furniture and sell it on the side as a hobby, average out and include that income. It all counts. 
Be completely honest on your credit card application. Lying on an application will never benefit you. The credit card companies base decisions like interest rates and limits on the facts that you provide. Most of the time they will find out what they need to know any way through credit bureaus and other databases, so make sure that the information you provide on the application matches the information they get elsewhere. Finally, if your application for a credit card is denied and you believe it shouldn’t have been, call the credit card company to discuss it with them. You may have made a mistake that you can correct.
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