A lot of people have a credit card nowadays, while some of them have even more than one, including rewards credit cards or travel cards. But the truth is that you can’t get one that easy, since some lenders are pretty demanding when it comes to approving your application!
Fortunately, there are a few things you can do, in order to significantly increase your chances to get your credit card application approved faster. Sounds good? You can find them below!
Build a credit history, but without your own credit card
This is pretty much the easiest (and less expensive) thing you can do! Basically, you can take advantage of a friend or a member of your family, who has a good credit. As one of them to add you as an authorized user.
You will have access to the account and easily start building a credit record. Shortly, you will end up with a revolving credit line on your report and, if you are careful, it will be in a very good standing.
Use a secured credit card
No lender is willing to give out an unsecured loan, but if you manage to put some money down, they might be impressed and eventually give you a secured card.
This card will require a deposit to be made, which usually becomes the credit limit. And believe us, it’s a great way to build some nice credit history. Don’t put that much money on it, just stick to an amount that can show the issuer that you are responsible with money. If they like your spending habits, they can automatically upgrade your card to an unsecured version, in a few months.
Look at your rejection letters
Finally, there’s one more thing you can check, in order to know what to do better in the future: check the letters you received from the lenders that rejected your application. Nobody rejects you for no reason, so they list a specific list with reasons for the denial.
These can include issues like too high loan balances, insufficient income, limited credit history, too many recent inquiries on your credit report and many more.
