If you are in the market for a credit card, you can use this site to find and apply for the credit cards in which you are interested. This site helps you by showing you what each card has to offer, what kind of credit you will need to qualify and whether or not you can get an instant response to your query.
Use the free credit card chaser tool to compare credit cards online right now!
Before you apply for a single credit card, you need to go online and get your free credit report from AnnualCreditReport, which is the only site recommended by the Federal Reserve. Understanding what on your credit and learning your credit score will help you to understand for what credit cards you can apply?
Why does it matter what credit cards I apply for?
In today’s day and age, your credit is checked for numerous things. A potential employer may check your credit to determine if you are a responsible person who can work for their company. Insurance companies check your credit to see how reliable you are when it comes to paying your bills. Of course, if you need a loan, lending institutions will check your credit as well.
The thing is, every time you apply for a credit card, your credit report is checked. In addition, the credit reporting agencies make a note of the credit checks and each check on your report affects your credit score. If you apply for multiple cards, this will impact your credit score negatively because it will appear as if you are trying to increase your debt. What’s more, if you apply for credit and are turned down for that credit, this is even harder on your credit.
The bottom line is that you want to keep the inquiries on your credit to a minimum and you want to ensure that you choose to apply for cards for which you can qualify.
When I apply for a car loan, does that negatively impact my credit as well?
You will find that if you buy a car through a car lot, they will help you find a lender for your vehicle. What they don’t tell you is that they often use ten or more lenders so that they can give more variety to their clients. They will give your information to all those lenders in an effort to help you get the best deal on your loan.
When this happens, each lender checks your credit to see if you are someone, they will potentially offer a loan to. The good news is that when it comes to a car loan or even a home loan, having multiple checks on your credit will not negatively impact your rate. The rating system takes into account that you are going to shop around for the best loan and that lending institutions will first want to check your credit before they make you a loan offer.
If I have excellent credit, can I apply for any credit card I want?
If you have excellent credit, you should apply for credit cards for people with excellent credit. Although you will likely be able to qualify for any credit card that you apply for, this doesn’t mean that you should apply for certain credit cards.
Some credit cards are specifically designed for people with bad credit. These bad credit credit cards have higher interest rates than other credit cards. Even for those of you with excellent credit, the card itself has a different starting criteria.
What’s more, you will find that in many cases, credit cards for people with excellent credit come with better terms than credit cards for other people. Not only does this mean a low interest credit card, but a credit card with addition benefits such as concierge service, rental car insurance, travel insurance and more. Typically, bad credit credit cards don’t come with these types of perks.
What kind of information will I need when I apply for a credit card?
When you apply for a credit card, you will have to provide your:
- Phone number
- Work number
- Annual income
- Social security number
By law, credit card companies are required to verify your identity before making you a credit card offer.
In addition, you must now be 18 or 21 to get a credit card, depending on what state you live in. As such, you will be required to provide your birth date, which the credit card company will verify via your social security number.
Some credit card companies may also require you to provide proof of income or even provide a cosigner if you don’t have established credit or if you have bad credit.
Compare credit card offers online with the free credit card chaser tool at the top of the page!