How to get approval for your first credit card

29 October 2013 - Which Way To Pay

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Applying for your first credit card? How to get approval

Applying for your first credit card can be hard if you have not got any credit history. It is important that you research your history before you start applying for all the credit cards you fancy.

It may sound odd, however, lenders are sometimes more cautious about providing credit to individuals who are first time applicants. This is because they see first time applicants as more of a risk because they have nothing to base their assessment on. There is no way to judge whether you will make your regular repayments or not. So, how can you prepare for your credit card application?

Preparing for your credit card application

You can apply for a poor credit rating credit card and use your card to help build up your credit history. If you repay your statements in full at the end of every month, it does not matter what the interest rate is. Use your card regularly, make your repayments regularly and you will soon build up a good credit history. You will then be able to applying online for another card, at a more competitive rate, and have a higher chance of having your application accepted.

Check your credit history and credit score

Before you apply for your credit card you should ensure that you have no discrepancies in your credit history. Check for any inaccuracies or that your name is not incorrectly linked with another individual who has financial problems.



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