How to Make Sure Your Credit Card Application is Accepted
Contributed by Deborah Zeitler
When you really want to be sure your application for a credit card will be accepted
Instead of simply applying for a credit card and crossing your fingers until you find out whether or not it was accepted, do your credit homework beforehand. There are many things you can do help ensure that your application is accepted, but first you need educate yourself about how credit works.
Accept that credit cards offers may try to "trick" you into applying
It's tempting to accept any offer for a credit card that comes into your mailbox. That offer may have the words "pre-approved" stamped in big letters across the top, which could mislead you into thinking that they already know about your credit history, and are willing to give you a credit card anyway. WRONG. When a credit card offer contains the words "pre-approved", chances are that in very, very fine print somewhere on the bottom of the page, or even on the back, this phrase will be clarified.
What they really mean is that they "pre-approve people who have satisfactory credit". In other words, this phrase is meaningless. Unless you do have good credit, your application would probably not be accepted.
Don't apply for a credit card just because you think your application will be accepted
Even if you know that you have a good credit history and would probably have your application for a card accepted, there are some things you need to know before you sign on the dotted line. You already know that credit card companies make their money by charging you finance fees, but did you know that some credit card companies charge you an annual fee over and above your finance charges? Read the fine print to find out what annual fee they would be charging you, if any.
Another important question to have answered is whether or not you would still have to pay a monthly finance charge even if you pay off your balance each month.
