Milvionne Chery Copeland, Writer
To apply for a credit card for the first time, start by comparing credit card offers for people with limited or no credit history to find the best option, then fill in the personal and financial information requested on the card’s application. Next, submit the application and wait for a decision. You should have a good shot at getting approved if you pick the right card and have enough income to afford monthly bill payments.
Before you even compare credit card offers, you may want to double-check whether you have any credit history to begin with. You could have credit history without even realizing it as a result of being an authorized user on a parent’s credit card account, for example, or from previously having a loan. You can check your credit score and report for free on WalletHub.
If it turns out you do have some credit history, it could help you qualify for a better credit card offer or constrain you to credit cards for people with bad credit. If you have no credit history, you can stick with starter cards meant for people with no credit.
How to Apply for a Credit Card for the First Time
- Compare credit card offers. Now that you know where you stand with your credit history, it’s time to find the best credit card offers that suit your needs. There are many cards out there to compare, but WalletHub makes it easy with recommendations for the best first credit cards.
- Look at the fine print. Read the credit card’s terms and conditions and make sure you understand any fees or any types of transactions that are not allowed, like balance transfers or cash advances. You’ll want to also review the terms for the rewards program, if the card has one.
- Fill out and submit an application. Once you find the right first credit card for you, submit an application. For the application, you will need your name, address, Social Security number, employment status, income, and the amount of your monthly housing payment. Some credit card companies may require additional information.
- Wait for a decision. You could find out whether you are approved in minutes if you apply online. Otherwise, you should find out within 10-14 business days. During this time, you should not apply for any other credit cards. Applying for multiple credit cards at once can actually hurt your credit.
Following these steps can give you high odds of getting approved for the right credit card for you. You can also check out WalletHub’s guides on how to apply and get approved to learn more.
Capital One Platinum Credit Card
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