The key to being approved for the best credit card offers is to have a solid credit score.
Credit card companies really focus on your credit score because it tells them whether or not you are able to make your payments on time. The first thing to do is to assess your own credit history and then you can look into how to improve or repair it. There is varying criteria that you must meet when your credit score is added up.
Your Final Credit Score Depends On Your Credit History
You can get a good idea of how a person’s ability to pay is by looking at their credit history. An excellent credit record reflects on your character and tells them that you are focused on paying them as scheduled. On the opposite end of the spectrum if your credit history shows that you never pay on time you are a high risk to creditorsYour low credit score show the bank / credit card issuer that you are irresponsible and a high risk to the company.
If you are assessed with poor credit your cost to use a credit card is incredibly high. You see, having poor credit is disastrous because your interest rates on a credit card, mortgage, auto loan, business loan, etc. will shoot through the roof.
Checking Your Credit Score Report During The Credit Card Apply Process
Before thinking about submitting your application for a credit card you need to get a good idea of what your credit score / FICO score is
If you check your credit score yourself it does not affect your FICO score negatively at all. One of our highest recommended services that gives you a detailed look at your FICO score is MyFICO.com. Do you know Suze Orman? It comes highly recommended by her. It runs your FICO score / Credit score with the 3 main credit reporting bureaus: Experian, Equifax and Transunion. MyFICO goes beyond just providing you the FICO score it goes in depth as to reasoning behind your score whether it is low or high and how you can increase your score.
The credit scores that you get from Experian, Transunion and Equifax will not be the same but close. The middle score or sometimes average score is taken as a means for credit card companies to judge you by your credit history. Each person is infinitely different from another person financially.
Follow the instructions as laid out in MyFICO.com and with a little time you will see your FICO score jump up allowing you to apply for even better credit cards providing more features and lower APR.