Erin El Issa writes data-driven studies about personal finance, credit cards, travel, investing, banking and student loans. She loves numbers and aims to demystify data sets to help consumers improve their financial lives. Before becoming a Nerd in 2014, she worked as a tax accountant and freelance personal finance writer. Erin's work has been cited by The New York Times, CNBC, the "Today" show, Forbes and elsewhere. In her spare time, Erin reads voraciously and tries in vain to keep up with her two kids. She is based in Ypsilanti, Michigan.
Assigning Editor Erica Corbin
Assigning Editor
Erica Corbin is a former assigning editor at NerdWallet. Erica joined NerdWallet in 2020 as an assistant assigning editor at large. In 2023, she was promoted to assigning editor and helped lead the credit cards vertical at NerdWallet Canada. She previously wrote and edited content at companies such as GOBankingRates and Nasdaq. Her work has been syndicated to USA Today, Yahoo Finance, MSN and more.
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If you’re thinking of applying for a credit card , here are 10 tips to increase your chances of getting your application approved.
Every time you apply for a credit card, it dings your credit score , so if you apply for many cards at once, it doesn’t look good to lenders. It’s better to take your time to find the right card to apply for rather than waste your time applying for cards you are unlikely to get approved for. If you do want to apply for multiple cards, then spread out your requests so they are at least six months apart.
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When you apply for a card, any errors on your credit report that haven’t been corrected could impede your approval. If you see an error, be sure to file a dispute with the credit bureau to get it fixed.
You can get your free credit report at annualcreditreport.com . While they are normally available annually, you can get them weekly through April 2022.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Learn MoreSome cards are only available to those with excellent credit while others are aimed at consumers with fair or average credit. Applying for the cards that match up with your credit score gives you the best chance of approval. For example, if you have a fair credit score, you might want to consider a card like Capital One QuicksilverOne Cash Rewards Credit Card , which is aimed at consumers with scores from 630 to 689.
Paying your bills on time each month contributes to your credit history and can help your credit score. That includes payments for credit cards, student loans, a mortgage, rent and utilities. Consider setting up automatic payments, at least for the minimum payment due each month, to avoid accidentally missing a payment and getting hit with late-payment penalties.
Lenders look at your credit utilization rate, which is the total amount of credit you are using compared to the credit you have available. Keeping your total credit utilization rate under 30% can help your credit score. That means if you have a credit limit of $1,000, you want to avoid spending more than $300 each month.
Having a mix of credit history — a few different kinds of cards and loans — will help your appeal as a borrower. When you consistently make timely payments across the board, it shows you can handle different kinds of credit, and you’re more likely to be deemed a reliable applicant.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Learn MoreIf you have a thin credit history or bad credit, then it can be hard to qualify for a traditional unsecured credit card. With a secured card, you’ll be asked to put down a cash deposit, and your credit line will be equal to that amount. After you make on-time payments over six months to a year, you’ll have a better chance of being approved for a traditional credit card.
With the OpenSky® Secured Visa® Credit Card , for example, you can normally put down a deposit as low as $200 and then that becomes your credit limit on the card.
If you have no credit or bad credit, getting a co-signer will increase your likelihood of being approved. This means that someone else will be responsible for your debt if you can’t make the payments. Another option is having that person add you as an authorized user on their account.
Applicants with a lengthier credit history have a better chance of being approved. Start building credit early (but maybe not too early ), and be careful when you close other cards, especially if you’ve had them for a long time. Your credit score will be higher if you have several open accounts in good standing.
You’ll be in a better position to win approval if you apply for a credit card at the bank or credit union where you already have a checking or savings account.
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Erin El Issa is a credit cards expert and studies writer at NerdWallet. Her work has been featured by USA Today, U.S. News and MarketWatch. See full bio.
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