When it comes to filling out a credit card application, bad credit doesn't necessarily disqualify you from being approved. While you may not have as many options as consumers who have a good credit rating, you can still find a company willing to extend credit to you. Follow the guidelines below as you complete the application form.
Type of Application
The first thing you need to consider is the type of application you are filling out. If you need to rebuild your credit, one place to start is by using a secured card. Bad credit doesn't mean that a card company will not issue you a card. You nay need to put up a security deposit to ensure that the company issuing the card is paid. Once you have made your payments for 12 months or so, you may qualify for an unsecured credit card.
Another option is look for a company that is prepared to issue a card to a person with less than perfect credit. You may need to pay a higher rate of interest or an annual fee, but at least you will have a credit card. As in the case of a person who applies for a secured credit card, once you have established a better track record, you will be able to qualify for a card offering a lower interest rate.
Completing the Application
As you complete the application you will need to have on hand information about your existing bank accounts, savings, monthly payments and debt. Have this information at hand before you even sit down. Then- be accurate! Inaccuracies cause delays and less than forthright information can eliminate your chances of getting a card. Consider using a third party credit tracker device that will allow you to input much of this data just once. Using an online application may be easier that filling out and mailing back paper forms via snail mail.
Don't think that you can't fill out a credit card application with bad credit. You have credit options that are open to you. If you visit a web site with a free credit card chaser tool, you can compare different ones to find the right one for you today!
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