You can find many credit card offers online, but your acceptance is not guaranteed. You must fill out an application, and you run the risk of being turned down. Submitting too many applications in a short time period can reflect negatively on your credit report. It's better to let the credit card companies contact you with prescreened offers if you are in the market for a credit card, the Federal Trade Commission advises. Simply weed through them and accept the card with the best terms.
Step 1
Check your credit reports to make sure you have a good history that will look appealing to credit card companies. You are entitled to free copies of the reports every year under the Fair Credit Reporting Act, as long as they are ordered from AnnualCreditReport.com. Bob Sullivan, a Red Tape Chronicles columnist, explains that up to 25 percent of consumer credit reports may have harmful errors that can prevent lenders from sending offers to you.
Step 2
Improve your credit reports if needed. Dispute mistakes by writing a letter to the credit bureaus highlighting any problems on your reports and asking for removal of the problem entries. Build up a perfect payment history for at least six months if you missed any payments recently on accounts that show up on your reports, and pay down high balances if you can afford to do so. This makes you more appealing to creditors.
Step 3
Make sure you are opted in for credit card marketing on OptOutPrescreen.com. This website is run by the credit bureaus to let you manage your marketing preferences for preapproved credit cards and insurance policies. It can take up to 60 days to start getting offers if you had previously opted out.
Step 4
Contact the financial institutions with which you currently do business and make sure you are on their marketing list for credit card offers. Almost everyone has an account with a bank or credit union, and those companies frequently send offers to customers with whom they already have a good business relationship.
Tips and Warnings
- The OptOutPrescreen.com website lets you stop offers if you wish once you have gotten a new credit card. You can opt out and opt back in as many times as you wish.
- The Board of Governors of the Federal Reserve System warns that getting credit card offers in the mail may make you vulnerable to identity theft. Criminals can steal such offers and potentially obtain credit cards in your name. Watch your mailbox carefully and empty it promptly to lessen the risk. You may even wish to get a locking mailbox for maximum protection.
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