Things To Consider When Applying For Credit Cards

Posted on July 18, 2017

While there are other options for financing, credit cards can be a smart and convenient way to have extra funds and build your credit score. Here is a basic run down of what to expect in the process of applying for a card and some helpful tips and information along the way.



Having Bureaus Pull Your Credit Score



When you apply for a credit card, companies will pull your score from credit card bureaus. The number of times that your report will be pulled is dependent upon the credit card company. You can expect your information to be pulled at least one bureau, as this is common. There are few instances where companies will pull your information from two or three different bureaus, depending on the company and the credit amount you are being approved for.



There are three main credit bureaus that credit card companies use to obtain applicant credit information: Experian, Equifax, and TransUnion. Experian is used by major credit card companies that may be considered mainstream. These are the credit card companies that you see everywhere, whether advertised through the Internet or commercials on TV. Equifax is mostly used by credit unions. TransUnion is the least used bureau. Sometimes, companies will pull from TransUnion in addition to the other two bureaus.



Knowing Which Credit Card Company To Apply To



It would be advisable to apply to a credit card company according to your credit reports, which will increase your chances of being approved. If your credit report is significantly better on Experian, applying to big credit card companies would be more appropriate and convenient for you: Capital One, Chase and so on. If your credit is better on Equifax, then become a member of credit unions and apply for credit cards through them. If your credit is better on TransUnion, then you’re going to have a harder time because there are very few companies that will pull solely from TransUnion. Your choices will be limited, so you may have to look into other options.



When Applying For Credit Cards Isn’t Working Out



If your credit score is low and you are being denied by credit card companies, you have two options: fix your score or apply for an unsecured loan.



In order to repair your credit report, you can go to, as they are fast and reliable in helping you improve your credit report. They provide a fast track option that promises to wipe out all the negatives from your credit report in as little as one to three weeks.



Another option is for you to apply for an unsecured loan through companies like FastUnsecured. After meeting their ideal credit requirements, you will be approved within 60 minutes and obtain the funding you need.



Take time to look into the financing options available to you. There may be certain options that are better for you than others, depending on your credit score and financial situation. Doing your homework to research what is available will help you make the best financial decision for you!

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