Having great credit card comes with great responsibility, says Uncle Sam. Well, maybe he didn’t really said that but you get the point. Credit cards can be your best friend, but also your greatest enemy – if you’re not good with handling it.
But how can you apply for a credit card? Ever heard of instant decision credit card? This type of credit card application is the easiest way to get those credits fast. Instant decision credit cards offer a response in minutes to applications made online via the bank’s website.
But choosing instant decision credit card is not enough. Plan out on how you can make your credit card application – Philippines or the whole wide world – a lot faster. Here are some top tips:
Quotation searches, also known as ‘soft searches’ are initial checks a credit card provider can carry out to check whether the application is going to be accepted. Quotation searches are not full blown searches unlike those full time application processes. Banks will receive tidbits of information about you and from there will have an idea if you deserve to be given a credit card. However this type of searches cost banks a lot of money.
Fill out the forms and double check the criteria
Anyone who’s applying for a credit card should be very cautious about making sure they fulfill all the application criteria before going ahead and applying for a card. You won’t want to go back to square one just because you missed out on some parts.
Put all your information
Banks find it easier to accept your application when they have already been supplied with as much information as possible, and certainly everything they’ve asked for. Be sure that you also supply accurate information. Credit card providers will cross reference the information they have been given with records from reference agencies and from the electoral roll.
Make sure that the bank you choose is the one for you. To get started, check out great credit card comparison tool available online. Or maybe shop for banks. Do not settle for just one. You might be limiting yourself.
Return the agreement form quickly
When an application for a credit card is accepted, the first letter from the new provider that you will later on receive will contain a terms and conditions agreement, which needs to be reviewed and signed to get the card. The faster an applicant can get that form back in the post or electronically signed (only some providers offer the latter), the faster they’ll ultimately receive the card.
Got rejected? Don’t lose hope
It’s ok if you get rejected. There are still ways in which you can get the credit card of your dreams. Just make sure that you won’t apply for credit cards in succession. Banks and providers have ways in which they can tell if you applied for too many credit cards. Just relax, strategize, and ask your experts or your local bank on how you can re-apply