8 Tips to Help Get Your Credit Application Approved

Applying for a credit card can feel a little like flipping a coin. Card issuers approve and decline applications for different reasons, and even people with good credit might not get approved for every card.

But even if you can't control what a credit card company decides, you can take these eight steps to increase your chances of getting a new card.

1. Get Prequalified Before Applying

If you want to take some of the guesswork out of applying, you might be able to get prequalified for a new credit card.

Although prequalifying isn't a guarantee of approval, it does mean you have a good chance of being approved for that card. Plus, a prequalification results in a soft inquiry, which won't affect your credit scores.¹

For the CareCredit credit card, you can see if you prequalify online within seconds.

2. Check Your Credit Scores

Credit card issuers don't always list—or necessarily have—a minimum credit score. However, knowing your credit score can help you identify options that may be a good fit.

For example, if you're new to credit or have a low credit score, starting with a secured credit card might make sense. But if you have an excellent credit score, you might be able to pick from more cards.

Synchrony customers can check their VantageScore credit score for free with monthly updates. There may also be other free and paid services that give you access to your credit scores.

3. Review Your Credit Reports for Errors

Look over your credit reports for any errors that might be hurting your credit scores. It can often take a long time to improve low credit scores, but disputing and correcting errors might quickly raise your scores.

You can go to AnnualCreditReport.com to get free copies of your credit reports from each of the major credit bureaus—Equifax, Experian and TransUnion—every week.²

These credit reports don't come with credit scores, but you can look for incorrect information that might hurt your scores, such as:

• Accounts that you didn't open.
• Accounts that appear multiple times.
• Collection accounts for bills you don't owe.
• A late payment when you paid a bill on time.

Some of these may be the result of reporting errors or identity theft. Either way, you can dispute the errors with the credit bureau and the company reporting the information.³

4. Count All Your Qualifying Income

Credit card issuers ask for your income on the application and use it to help determine your eligibility for the card and the terms of your account.

Earnings from work could the primary source of someone's income. But look at the credit card application's terms to find out what other sources of income you can include. Some of the options may be:

• Your salary or hourly wages
• A consulting project or side gig
• Investments and interest
• Retirement account distributions
• Public assistance programs
• Child support, alimony and separate maintenance

You may also be able to use money that someone else regularly deposits into your account. Or, if you're 21 years of age or older, a household member's income that is regularly used to pay your expenses.⁴

5. Apply With a Creditworthy Joint Applicant

When you're struggling to qualify for a credit card on your own, you might be able to add a creditworthy joint applicant to help you get approved. However, only some credit card issuers offer joint accounts.

If you and a joint applicant apply and are approved for the CareCredit credit card, you will each receive a card and maintain joint responsibility for the account. Meaning both of you can make purchases and will be responsible for all the combined charges.

6. Start With a Card That Doesn't Require Good Credit

If you don't have good credit and a joint application isn't an option, there are several types of credit cards that may still be available to you. These can give you access to a credit line, and you can use the card to improve your credit scores.

• Secured credit cards: A secured credit card requires you to give the card issuer a refundable security deposit when you open your account. The issuer holds onto the deposit, which generally dictates your account's credit limit, and can keep the money if you fall behind on payments. Secured cards can be much easier to qualify for, but some may have high fees and interest rates.⁵
• Unsecured cards for building credit: Some unsecured cards are marketed as options for building credit. Although these don't have a strict credit score requirement, they often have very high fees and interest rates.
• Cash-flow underwritten credit cards: A few credit cards veer away from the traditional requirements and consider your banking history in addition to, or instead of, your credit history. If you regularly pay your bills on time, you might qualify for one of these cards even if you have trouble qualifying for an unsecured card elsewhere.

Use your credit card to improve your credit scores by making at least your minimum monthly payment on time every month. Only using a small portion of your card's available credit limit and then paying the bill in full each month can also help your credit scores and allow you to avoid accruing interest on purchases.⁶

7. Learn About the Card Issuer's Rules

A credit card issuer's policies might lead to a denial even if the applicant has perfect credit and a high income. For example, some card issuers won't approve new applications if you opened more than a certain number of credit cards within the previous few months or years.⁷

The specifics can vary from issuer to issuer, and you can try to find information about a specific card issuer's rules or restrictions online before applying. Also, keep these rules in mind if you might want to apply for several credit cards in the coming years.

8. Call the Card Issuer if Your Application Isn't Approved

If your credit card application is pending, you could try calling the card issuer to see if there's anything you could do to get the application approved.

For example, you might have to:

• Thaw your credit reports: The card issuer might not have been able to check your credit scores if your credit reports are frozen. You might be able to unfreeze your reports and ask the issuer to review your application again.⁸
• Move available credit: If you have other credit cards from the same issuer, you might be able to lower that card's credit limit to help you qualify for the new card.
• Verify your identity: If the issuer had trouble verifying your identity, a representative might be able to verify you over the phone to get your application approved.

There often aren't options for getting a declined application decision reversed. However, if you know why your application was denied, you can also try to take steps to improve your chances of getting approved when you reapply.

How to Use Your New Credit Card to Build Credit

A credit card could help or hurt your credit scores, depending on how you manage the account. If you want to improve your credit scores, try to:

• Make monthly payments on time: Your payment history can be the largest factor in your credit scores.⁹ Try to make at least your minimum payment on time every month to build a history of on-time payments.
• Maintain a low utilization ratio: The percentage of your card's credit limit that you're using can also have a big impact on your credit scores. Using a small percentage of the card's credit limit is best.¹⁰ If you can afford it, pay the entire balance each month to avoid accruing interest on new purchases.

Some credit cards, including the CareCredit credit card, offer promotional financing to cardholders on qualifying purchases.

Managing Health and Wellness Costs With the CareCredit Credit Card

If you are looking for an option to help manage your health and wellness costs, consider financing with the CareCredit credit card. The CareCredit credit card can help you pay for the care you want and need and make payments easy to manage.* Apply today and use our Acceptance Locator to find a provider near you that accepts CareCredit. Continue your wellness journey by downloading the CareCredit Mobile App to manage your account, find a provider on the go and easily access the Well U hub for more great articles, podcasts and videos.

Your CareCredit credit card can be used in so many ways within the CareCredit network including vision, dentistry, cosmetic, pet care, hearing, health systems, dermatology, pharmacy purchases and spa treatments. How will you invest in your health and wellness next?

Author Bio

Louis DeNicola is a freelance writer who specializes in consumer credit, finances and fraud. He has several credit-related certifications and works with many lenders, publishers, credit bureaus, Fortune 500s and FinTech startups. Outside of work, you can often find Louis at his local climbing gym or cooking up a storm in the kitchen.