Applying for Credit Cards Online (cont.)
Contributed by Kristy George
Most credit card companies will look at the money you have coming in vs. the money you have going out to pay other bills. This is called your debt to income ratio. If they feel as though you have a sufficient amount of money coming in compared to going out they will lend you credit. You will also more than likely fill out other personal information such as previous address, your bank account and saving account totals, and any other income you receive monthly such as child support or alimony.
These types of income only need to be included if you want the decision to loan you credit to include those amounts. These types of income usually do not have to be included if you wish to keep these amounts confidential.
Once your application is completely filled in, you will submit it on the website. It will then be checked for errors and you will be asked to fill in any blanks you overlooked. If your application is accepted to be processed you will be notified of a time limit of reply. Some websites will let you know immediately whether or not hey will allow you to have their credit card, while others may contact you in hours or days. They can contact you via email, phone, or through the mail.
If you are denied their credit card you will receive a letter stating why and usually will be able to request a copy of your credit report to see why you were denied credit. Choose credit cards wisely and read all the facts before applying online for safety.
