Finding the best credit card for your situation can take some work. With dozens of credit cards to choose from, consumers must wade through fine print, terms and conditions, interest rates and other costs associated with each credit card. There are a few websites that take the guesswork out of choosing the right credit card. All you have to know is your credit standing and any particular features important to you in a card.
Step 1
Order your free credit reports through Annualcreditreport.com and your FICO score through Myfico.com. You may sign up for a free trial period through Myfico.com to avoid paying any fees for 30 days, and you may cancel during your trial period with no penalty or charges. After the trial period, it is $9.95 per month for monthly monitoring of your FICO score. Credit scores may be purchased directly from the credit bureaus; however, they are not the official FICO scores used by lenders. It is important to know what is on your credit report, as well as your credit score. Each credit card may have different requirements. Applying for multiple cards can decrease your score due to additional inquiries being added. It is better to know where you stand before you begin the application process.
Step 2
Determine which benefits are most important to you in a credit card. Are you looking for airline miles or cash back rewards? How about cards that offer zero percent interest on balance transfers, or cards geared toward students or business owners? There are cards available for many situations, needs and lifestyles.
Step 3
Visit Creditcardguide.com to compare credit cards, interest rates, benefits and costs. If necessary, call the credit card issuer to inquire about credit score requirements prior to submitting an application. If you have frozen your credit files, you can call the company to find out which credit report they pull, in order to thaw the correct one.
Step 4
Apply for your new credit card online through a secure server, or by submitting a paper application through the mail. When mailing an application, consider sending it by certified mail since credit applications contain information such as your social security number and date of birth. If your application is denied, you will receive a letter in the mail stating the reason. If applying online, you may have instant access to your approval or denial.
Things You'll Need
- Copies of your credit reports (Equifax, Experian and TransUnion)
- FICO credit score
- Internet connection
Member Comments