Important Aspects Of A Credit Card
There are conditions and guidelines that you must take into account when you decide to choose to have a credit card, here we name some of them:
- A payment obligation is established by the client, under the agreement to cancel all administrative expenses, interests and commissions that the use of the credit card entails.
- A period of 45 days continuous is determined for the cancellation of the installments, this condition will depend on the bank.
- The client has the obligation to cancel and return the full amount of what was granted.
Learn More About The American Express Cobalt
The American Express Cobalt is one of the highest-earning rewards cards out there, offering up to 5 points per dollar on groceries and restaurants. Points are worth up to 1.75 cents each when redeemed for travel via Amexâs Fixed Points Rewards chart or 1 cent each if you want to keep things simple and use Amexâs straightforward Flexible Points program . The card has no specific income requirements, and when you apply online, you can get instantly approved in minutes if you qualify.
Bmo Preferred Rate Mastercard*
For those looking to minimize debt, this $20-a-year Preferred Rate Mastercard from Bank of Montreal is our pick for the best low-interest credit card. The annual fee is refunded in the first year, and a lower-than-average interest rate of 12.99% means you can minimize interest on balances and new purchases. Plus, get a 0.99% introductory interest rate on balance transfers for nine months .
- Annual fee: $20
- Interest rate: 12.99% for purchases, 15.99% for cash advances
- Welcome offer: Earn a 0.99% introductory interest rate on balance transfers with a 2% transfer fee for the first 9 months.
- Additional benefits: Purchase protection and extended warranty
- Income required: None specified
Prepare For Questions Youll Be Asked
When you apply, youll be asked similar questions no matter which company is issuing the card. It helps the issuer to decide whether to approve you for the card. In most cases, youll have to provide your Social Security number, for example.
And because credit scores dont reflect your income, theyll ask about that.
Card issuers use income to calculate your debt-to-income ratio, which helps determine your ability to make payments. Improve your ratio by either increasing income or decreasing debt.
If you earn money outside your full-time job, include it on your application. As long as youre 21 or older, you can include your household income, including income from your spouse or partner, on your credit card application.
Resist the temptation to overstate your income. If an issuer finds that you knowingly provided false information on your application, you could be charged and convicted of credit card fraud.
Being unemployed doesnt automatically disqualify you from getting a credit card.
Compare More Instant Approval Credit Cards
Getting an instant approval on your comes with benefits, such as:
- Instant discount and rewards. Depending on the card youre approved for, you can use the discount on your purchases or earn rewards before your physical card arrives.
- Meet signup bonus requirements. If the card comes with a welcome offer, you get a chance to earn it early on.
- Instant access to certain card features. For example, an instant access balance transfer card can let you consolidate your debt much faster.
- Emergency credit line. This is helpful if you need to make a large purchase and you dont have available credit on your other cards. Getting instant credit card numbers allows you to expand your credit card before getting your physical card. And if the card comes with a 0% intro APR period, you get an even higher value.
Tips To Get A Credit Card Easily
You already have a major head start when it comes to finding an easy credit card to get. But we Hubsters are generous, so here are a few more pointers to ensure success.
Organise A Credit Score Check
Your credit score lets providers know if you are suitable for a specific card. The better your score is, the greater choice you have when it comes to applying for credit cards and larger credit limits.
Companies, such as Experian, keep files that show how financially reliable you are. Your score is based on your history of making payments , paying back credit products and even how often you apply for credit.
Remember, unsuccessful credit card applications could affect your score, so make sure you know your credit score before starting the application process.
You can visit Experian to request your free credit score file.
Take a look at our guide to credit scoring for information on credit scores.
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Applying For A Credit Card
You can apply for a credit card:
- on line
- at a bank or building society.
You will have to fill in a form and the credit card provider will check your credit record with a credit reference agency, to see if you are credit worthy.
Your credit record shows information about how you handle your finances, such as your bank account and any other borrowing you have. It tells the provider whether you are a good payer and about any court orders you have had in the last six years. You can check your credit record yourself by contacting one of the credit reference agencies. There is a small fee.
For more information about your credit file and how to contact the credit reference agencies, see Being refused credit in .
When you fill in the application form for a credit card, be careful to make sure all the information you put is correct. If you are not sure about how to complete the form, ask the credit card provider for help. You will have to sign the form to say all the information is correct and any false information you give may be seen as fraud.
Wells Fargo Business Secured Credit Card
The Wells Fargo Business Secured Credit Card is similar to a consumer secured card in that youll need to make a cash deposit to open the card and secure your credit line. The minimum deposit amount is $500, but qualified applicants can deposit up to $25,000 for a larger credit line.
- Earn 1.5% cash back on every purchase made with your card, redeemable as a statement credit or check
- Access credit lines from $500 to $25,000
- Pay $25 annual fee
While the card charges a small annual fee, you can obtain up to 10 employee cards at no extra cost. Plus, you wont pay any foreign transaction fees for purchases in a foreign currency.
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Premier Bankcard Mastercard Credit Card
- Donât let a low FICO score stop you from applying â we approve applications others may not.
- You donât need good credit to apply.
- Just complete the short application and find out in 60 seconds if youâre approved.
- When you need assistance our award-winning US-based Customer Service agents are there to help.
- FICO scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any PREMIER Bankcard® product.
American Express Cobalt Card*
The American Express Cobalt follows in the footsteps of Netflix, Spotify and other subscription services by charging a $12.99 monthly fee to use the card, as opposed to an annual fee of $155.88. Combined with a generous earn rate of 5 points per $1 on eligible restaurants, bars, cafés and food delivery in Canada, this card is definitely aimed at busy millennials who are out and about town with friends, as well as frequent travellers. On travel, youll earn 2 points per $1 on eligible transit and gas purchases in Canada, as well as travel purchases like flights and hotel, and 1 point per $1 on all other purchases.
Points are collected under American Expresss Membership Rewards Select program, so you cant transfer points to Aeroplan or partner airline programs like you can with other Amex cards, but you may redeem for travel directly on the American Express Travel portal under the fixed and flexible points redemption schedules. Additionally, you may transfer points to select hotel programs like Marriott Bonvoy or Hilton Honors, or even redeem points for cash back on your statement.
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Display A Bank Account With A Generous Balance
At times you may find yourself with no current income but with a healthy bank balance. This may be the case when you retire early or if youve earned sufficiently well and decide to take a break from work. Here, the availability of funds offers the assurance that you will make repayments without defaulting.
How To Get A Credit Card Easily
A credit card is an identification, made of a resistant plastic with a microchip, and / or with a magnetic stripe and a unique number in relief, issued only by a bank or financial entity, this authorizes a person to make payments in the businesses or businesses linked and associated with the system of each bank.
This payment system is done by showing the card and placing the signature that was authorized in the bank, when activating the credit card.
The convenience of payment is given by the cancellation of several installments, it is a financing system, the client cancels with the credit card, and then has the obligation to cancel bank charges such as taxes, commissions and interests established by the bank and that I already accept.
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What To Do If Your Credit Card Application Is Declined
If your application is rejected, you shouldnt apply for another credit card straight away. Like with all credit cards, applying for several instant approval credit cards in a short period and having rejected applications on your credit file can further damage your .
Instead, you might want to try the following:
Rejected applications can hurt your credit score even further, so its important to consider these conditions before applying.
Self Credit Builder Account: Best For Improving Credit
Why we picked it: Youll know almost instantaneously whether youre approved and wont face a hard pull on your credit. And for its best credit-boosting perk, this account will report your habits to all three credit bureaus.
Pros: Through this unique account, Self will set you up with a small loan thatll be saved in a certificate of deposit for 12 or 24 months, and at the end of the account term your CD savings will unlock. Similar to a savings account, but with the ability to build credit, you pay a minimum of $25 a month toward the CD. By the end of the account term, healthy habits and on-time payments should make strong contributions to growing your credit score.
Cons: This account doesnt feature any ways to earn on your spending or bonus rewards. Also, there is a one-time account fee of up to $15.
Who should apply? Anyone looking for easy approval and who wants to focus on establishing a credit score with a set routine are a great match for this account.
Who should skip? Anyone looking for a rewards card should look elsewhere. And if you want an actual credit card you can use, consider the Self Credit Builder Account + Secured Visa® Credit Card or any other secured card.
Read our Self Credit Builder Account review.
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Am I Eligible For A Credit Card
The eligibility criteria for a kotak credit card will vary for every applicant. However, there are some criteria that remain uniform and these include:
- For Royale Signature Credit card, League Platinum Credit card, Delight Platinum Credit card, Essentia Platinum Credit card, PVR Platinum Credit card, PVR Gold Credit card, Urbane Gold Credit card primary applicant must be in the age bracket of 21 65 years.
- For 811 Dream different Credit card, NRI Royale Signature Credit card the primary applicant should be in the age bracket of 18 years to 75 years.
- Must be an Indian resident
- Must be a salaried employee or self-employed
- Must meet the income requirement set by the bank
- Must be a resident of the serviceable locations within India
Easy Secured Cards To Get Approved For
Secured credit cards are by far the easiest type of credit card to obtain, particularly if you have a poor or limited credit history. Thats because secured credit cards require a cash deposit that acts as collateral for the account, meaning the credit card issuer doesnt have to risk its own money to approve your credit line.
With less risk, issuers are more willing to be flexible about credit scores and income, often offering better rates, lower fees, and higher credit limits than other cards for the same credit demographic. Whats more, your secured credit card deposit is fully refundable when you close your account with a $0 balance.
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Green Dot Primor Visa Gold Secured Credit Card: Best For High Credit Lines
Why we picked it: This card features instant approval and a low APR of only 9.99% . You may also get a credit line as high as $5,000. This not only gives you financial freedom, but can also help improve your credit score by lowering your .
Pros: Theres no credit check when applying for this card, making it an easy and accessible process. And thanks to it being a Visa card, it comes with travel accident insurance, extended warranties and a travel and emergency hotline.
Cons: This card restricts you when it comes to getting started you cant set up your account with a deposit from an ACH bank transfer . Youll have to use a debit card, check or money order. Also, this card comes with a $49 annual fee.
Who should apply? Credit card newcomers looking for a way to grow their score with a high credit line would benefit from this card. Also, if you know youre going to be forced to carry an occasional balance, this cards low APR makes it a great choice.
Who should skip? If youre looking for an easy card to get started with, this may be difficult due to the limitations around the initial deposit. Also, this is a bad choice for anyone looking for rewards cards.
Chase Freedom Unlimited Card
Secure application on issuers website.
Annual Fee: $0Bonus: Extra 1.5% cash back on all purchases in the first year Variable APR After Intro 0% APR Period Intro Rewards Rate: 3%-6.5% Cash BackStandard Rewards Rate: 1.5%-5% Cash Back
Annual Fee: $0Intro APR: This card allows new cardholders to save money with an introductory 0% interest rate on new purchases and balance transfers for the first 15 months of account opening.
Variable APR depending on credit worthiness.
Bonus: Earn an additional 1.5% cash back on all purchases in the first year of account opening. This bonus is valued at up to $300 in cash back, and increases rewards rates to: 6.5% cash back on travel booked through Chase, 4.5% back on dining and drugstore purchases and 3% back on all other purchases.
Rewards Rate: After the bonus 1.5% cash back intro offer period concludes, earn 5% cash back on travel booked through Chase Ultimate Rewards®, 3% back at drugstores and on dining purchases and 1.5% back on everything else.
Who Should Use This Credit Card? Households that prioritize cash-back rewards for everyday spending and Chase loyalists who are looking to maximize Ultimate Rewards earnings.
Slickdeals TakeRating: 4.5/5
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What Is The Easiest Credit Card To Be Approved For
The easiest credit card to get is different for everyone since it will depend on your credit score and the other factors listed above. The credit cards that are available to you may also depend on whether:
- You’re a student
- You have no credit or a thin credit file
- You have bad or poor credit
If any of those apply to you, there are some specialized types of credit cards that will be easier to get than others. They include student credit cards, starter credit cards, and secured credit cards.