How do you obtain a credit card?
You have decided you want a credit card. So how do you go about obtaining a credit card?
The first thing to do is to check the available media. Newspapers, magazines, television, radio and especially the internet all carry advertisements for credit cards. In particular the internet, which houses credit card comparison websites, allows you to make credit card comparisons.
Once you have chosen the credit card most suitable for your needs you will need to complete a credit card application either online or in paper form. This is not as daunting as it may seem. You will be asked various personal questions such as: name and address and how long you have lived at that address; date of birth; marital status; whether you are a homeowner and your employment status. You will also be asked financial questions relating to your income and monthly outgoing and whether you hold a mortgage or personal loan. Do answer the questions honestly as failure to do so or to provide incorrect information could lead to your credit card application being rejected.
Once your credit card application form has been received by the credit card issuer a credit check will be carried out to see how you have conducted credit you have received in the past, if any, such as mortgages, personal loan/s or indeed credit card/s. Based on this information and taking into account your monthly income and outgoings the credit card issuer will carry out a credit score to determine what your credit limit is going to be.
If your credit card application has been successful you will receive your credit card together with the Terms and Conditions relating to it. You should sign your credit card and read the Terms and Conditions. You will then receive by separate post your PIN which you should memorise or write down but never keep it in such a place that if your credit card is stolen the thief will know your PIN.
Return to our credit card information section, or return to the homepage.