What Is The Easiest Credit Card To Apply For

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*Approval in Principle depends on customer declared information during application stage â Final approval is subject to validation of document based facts provided during document collection stage.

Tips For Using Your First Credit Card

Its really important to remember that learning how to get a credit card for the first time and getting approved are only the beginning. You also need to use that card responsibly, which means spending within your means, paying your bill on time every month, and keeping your below 30%.

If you can avoid racking up costly credit card debt and hurting your credit score with missed payments, your first credit card will be a huge asset. It will add positive information to your major credit reports each month. That will gradually improve your credit standing. And better credit will make it easier to rent an apartment, buy or lease a car, find a job, get approved for good loans and lines of credit and save on car insurance premiums, among other things.

You can track your progress for free on WalletHub, the only site with free credit scores and reports that are updated daily. Well even tell you exactly what you need to do to improve your credit score at a given time, plus provide personalized credit card recommendations. You can use them to find your first credit card and then graduate from it when the time is right.

With that being said, lets take a look at how the three main types of credit newcomers should go about choosing their first credit card.

College Students

The first thing a student should look for in a credit card is an offer without annual and monthly fees. The rates and rewards available at this point simply arent worth paying for.

Non-Student Newcomers

Easiest Credit Cards To Get Approved For In January 2022

*Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated December 22, 2021 . Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Whether youre new to credit, recovering from bad credit, or just dont want to risk a hard inquiry on your credit report only to get a rejection notice, you have options.

LendingTree evaluated credit cards that are easiest to get approved for with straightforward terms so you wont be smacked with expensive and often unexpected fees issuers of subprime credit cards usually charge you.

Typically, subprime cards are marketed to those with bad credit and often come with a variety of fees, including an annual fee, a monthly account servicing fee, and more, making them very expensive tools to rebuild your credit. They also tend to have very high interest rates. If youre trying to rebuild credit, we recommend avoiding subprime cards and applying for a secured card instead.

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Consider Calling The Issuers Reconsideration Line

If youve assessed the reason for your denial and determined that you werent far off from approval, call the issuers reconsideration line.

Now, if you applied for a card that requires excellent credit while having poor credit, you probably wont be able to talk your way to approval. However, you may be able to call the issuer and politely explain the situation, citing your timely recent payments and steadily improving credit. Theres no guarantee that youll be approved, but it doesnt hurt to ask. If you are approved, youll have the card you wanted and save yourself an additional credit inquiry.

The Difference Between Instant Approval And Guaranteed Approval

Applying online has made credit card approvals more immediate, but that doesnt mean an approval is guaranteed. Cards with instant approval often have defined eligibility requirements. Instant approval means your application is adjudicated upon in minutes through the institutions algorithmic technology and defined parameters. For example, Visa Infinite cards typically have a minimum income requirement of $60,000. Failing to meet that will result in a quick denial. Comparatively, guaranteed approval is a subset of credit card types also known as secured credit cards. These cards work well for those looking to build up a low credit score, whether because they dont have a card or are repairing a bad credit history.

To obtain a secured credit card, you make a deposit to secure the limit on the card, which is why its called secured. This is done in case you default on payments. Unsecured cards, on the other hand, are approved on the merit of a wide combination of factors, including but not limited to credit score, a relationship with the financial institution and payment history. Guaranteed approvals are typically simple and are often associated with secured credit cards.

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How Do Credit Cards Work

Its important to understand exactly what credit cards do, so you can use them to maximum advantage without falling into financial trouble. There are lots of benefits that come along with having a credit card. For example, they offer credit that can be used when you make a purchase, for balance transfers and/or cash advances. Essentially, your credit is like a short-term loan with a balance that comes due every month. As you pay down your balance, the credit available to you the following month starts to go back up to the maximum credit limit on your card.

A credit cards strongest advantage is convenience. Simply pay for your purchase with your credit card and you will be billed for the outstanding balance the following monthno cash in your wallet required. Other benefits include the ability to accrue rewards and pointssuch as cash back or travel pointsbased on a percentage of your purchases each month, usually between 1% to 4%, depending on which credit card you choose. You can then redeem those points for gift cards, travel or other items offered through the credit card companys online rewards catalogue.

What Is Credit Card Offers The Best Rewards

• Chase Sapphire Reserve – Best for Flex Points
• Capital One Venture Rewards Credit Card – Best for Flexible Travel Loans
• Wells Fargo Propel American Express Card – Best No Annual Fee
• Chase Sapphire Preferred: Best Ride Signup Bonus
• Ink Business Preferred credit card – ideal for flexible business payments

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Dont Apply For Cards Youre Not Qualified For

Dont apply for the best rewards and cash-back credit cards because if youre denied , the hard inquiry can further hurt your score.

Only apply for the cards that are within your reach, and as time goes on and your credit improves, you can then go after the cards with lower interest rates and the most benefits to its customers. In the meantime, these cards can be your gateway to improved credit and all the benefits that come along with it. Good luck!

Macys American Express Card

Especially if youre a customer who never misses a Macys sale, the Macys American Express Card is an ideal department store credit card for you. Rewards from retailer, gas, restaurant, and supermarket transactions can quickly help cardholders accrue redeemable points and real rewards.

Individuals who regularly use the Macys American Express Card can earn 20% off purchases for the first two days after signing up, and they average $263 in yearly rewards.

Points are good for two years after they are initially earned, and can be redeemed at a wide variety of other retailers including AT& T, Mobil, and Rite Aid through Plenti rewards.

• Regular APR:25.24%
• Intro APR:N/A
• Rewards rate:$3% cash rewards at restaurants, including delivery 2% cash back in rewards at gas stations and grocery stores 1% cash-back rewards for all other transactions 1,000 points yield $10 in Star Money.

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Indigo Platinum Mastercard: Best Unsecured Card

• Get prequalified online without a hard inquiry on your credit report
• Annual fee between $0 to $99 based on your creditworthiness
• 24.90 percent fixed APR
• Reports to the three credit bureaus

Why its an easy card to get in 2021

The Indigo Platinum Mastercard is geared to people with imperfect credit, so you may be able to qualify with a low credit score or no credit history at all. This card also reports your credit activity to the three credit bureaus, so you can use it in the short term to build credit and boost your score over time.

Keep in mind that you may have to pay an annual fee depending on your creditworthiness. Also, note that the credit limit on this card is set at $300, so you will only be able to use your card for small purchases.

Easiest Card To Get Approved For With No Credit

The Capital One Platinum Secured Credit Card is our top choice for an easy-to-get card when you have no credit history. To qualify, you must provide a refundable security deposit of $49, $99, or $200, which will serve as collateral for a $200 credit limit.

You can make a larger initial deposit, up to $1,000, if you want a higher credit limit. You must have a bank account from which you can fund your deposit.

• No annual or hidden fees. See if you’re approved in seconds
• Building your credit? Using the Capital One Platinum Secured card responsibly could help
• Put down a refundable security deposit starting at $49 to get a $200 initial credit line
• You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
• Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
• Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges

To be approved, your application must be verified by Capital One and you must reside in the United States or a U.S. military location . Your monthly income must exceed your mortgage or rent payment by at least $425. In addition, you must be age 18 or older and possess a valid Social Security number.

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What Is Credit Card Pre

Given that any credit card can be easy to get if your credit is good enough, its sometimes hard to tell which cards are actually attainable. Pre-approved or pre-qualified credit card offers can be an easy way to get an idea as to whether youll be approved for a certain card before you apply and before the hard inquiry hits your credit reports.

Many issuers will let you check for pre-approval offers to get an idea of your approval chances.

Pre-approval or pre-qualification is a credit card issuers way to getting an idea of your qualifications without going through a full hard credit inquiry. Instead, pre-qualification uses a soft credit pull that wont hurt your credit scores.

At the same time, because pre-approval applications dont look at your credit as deeply as does a regular application, being pre-approved for a credit card offer doesnt guarantee youll be accepted when you apply. Other factors, including your income and your history with the bank, can impact your chances of being approved.

What Is The Best Credit Card For First Timers

First time credit cardholders are better off using lower tier credit cards to help them manage their spending better while showing them how interest rates work. While it doesn’t necessarily apply to everyone, having all the bells and whistles of premium credit cards can throw a more complex learning curve on first time credit card users.

The best credit cards for first timers in the Philippines are the following:

Citibank Simplicity+ CardNo annual fee, no late fees but provides incentive for paying on time, rewards points for spending.

AUB Easy MastercardFlexible payment terms as it allows you to choose how much and when to pay. No annual fees and low-income requirement too.

Metrobank M Free MastercardSplits your transactions in 2 equal monthly installments at 0% interest.

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Also Consider: Scotiabank Gold American Express*

The Scotiabank Gold American Express has been a longtime favourite for Canadians, especially those who travel. The first thing youll notice about this card is the Scotia Rewards earn rate is a very healthy 5 points per $1 on groceries, dining and entertainment. Gas gets 3 points per $1, as do spends in two other categories: Public transit and eligible streaming services. All other purchases earn you 1 point per $1 spent. This card also doesnt charge a foreign transaction feeits one of the very few Canadian cards to offer this perk. Consider it a 2.5% bonus on all foreign currency transactions, including online purchases.

• Annual fee: $120
• Welcome offer: You can earn up to 40,000 Scene and travel points by spending $1,000 in everyday purchases in the first 3 months. You can also earn an additional 20,000 points when you spend $7,500 in everyday purchases in your first year. Apply by January 1 2022.
• Earn rate: 5 points per $1 spent on groceries, dining and entertainment 3 points per $1 on gas, public transit and eligible streaming services and 1 point per $1 on all other purchases
• Income requirement: $12,000

Pc Financial World Elite Mastercard*

Due to its association with Loblaws stores and Shoppers Drug Mart, the PC Optimum program offers members access to a wide variety of ways to earn PC Optimum Points, including gas, drug store and grocery purchases. With an earn rate of 30 points per $1 in Loblaws-owned stores , 45 per $1 at Shoppers Drug Mart, and 10 everywhere else, this card is one of the best no-fee cards for gas and groceries on the market. Its simple to redeem points. You simply show the card at checkout anywhere PC products are sold and get $10 back for every 10,000 points. Theres even an included package of travel and car rental insuranceand it carries no annual fee.

• Annual fee: $0
• Earn rate: 30 points per $1 in Loblaws stores and PC Travel 45 points per $1 spent at Shoppers Drug Mart 30 points per litre at Esso and 10 points everywhere else
• Income requirement: $80,000 or $150,000 , as well as a $15,000 minimum annual spending requirement
• Additional perks: Travel insurance car rental coverage

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Sears Store Credit Cards

Sears offers two consumer credit cards for the typical shopper: Sears Card and Shop Your Way Mastercard. These cards are for people who shop and often spend a lot of money at Sears. They are very similar, with minor differences.

Whats a secured credit cardWhat is a secured credit card and how does it work? Simply put, a secured credit card is a credit card that uses its own money as collateral. In other words, you deposit a certain amount when you open an account, and that money will be returned to you when you close your account or switch to an unsecured card.What is the definition of a secured card?A secured credit card or a secured card is a credit card that requires

What Is The Best Department Store Credit Card

TJX Platinum Mastercard is one of the best department store credit cards. You can use it on Marshalls, HomeGoods, Sierra Trading Post and get an unlimited reward of 5%. You can also use this card in other stores with a 1% refund.

How to build credit with a credit cardWhat is the best credit card for establishing credit?Capital One Platinum Credit Card: Ideal for getting a loan.Chase Freedom Unlimited – the best for the future.Discover Safe Credit Card – Ideal for beginners.Bank of America Cash Rewards Student Credit Card – Ideal for Students.Citi Double Cash Card – Ideal for cash back packages.How to establish credit without a credit card?

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Unsecured Credit Cards For Bad Credit Canada

Getting an unsecured card is a great idea provided that security deposit is not required. Scotiabank and Capital One offer products that are designed for customers with tarnished scores.

The Scotiabank Value® Visa is one product to look into, which also targets newcomers to Canada. There is an option to transfer and consolidate high-interest balances to make payments more affordable. Additional perks include optional protection, discounts on car rentals at Budget and Avis locations in the USA and Canada, Visa payWave.

• Interest rate: 11.99 percent
• Annual fee: $29

Capital One also offers an unsecured bad credit card that is ideal for customers who are considered high risk. The Secured MasterCard® is easy to get and features benefits such as price protection, 24/7 roadside assistance, travel assistance, travel accident and auto rental insurance, and more. Identity theft resolution services are also available. Customers are free to choose a preferred payment method and monthly due date and are offered three security deposit options .

• Interest rate: 24.99 percent
• Cash advance rate: 24.99 percent
• Annual fee: none