Steps to Getting a Credit Card

Now that you know the basics of credit cards, differences between credit cards and debit cards, types of credit cards and the pros and cons to having them, let’s take a look at the steps you can take to get a credit card.

Step 1: Research the type of credit card you want.

Naturally, you may gravitate toward a credit card that has all the perks. However, you may have no credit history at all or might not have qualified for an unsecured credit card in the past.

You may want to try for a secured card or retail credit card. You may find that these offer you opportunities to practice using a credit card. However, you must use them responsibly in order to graduate to an unsecured credit card later on.

Step 2: Find out whether you prequalify.

Some credit card issuers will preapprove or prequalify you for a credit card. You may need to fill out a short form and submit some of your personal information before they do that. Then, once you’re preapproved or prequalified, you may have a better chance of qualifying. However, you still need to fill out the full application in order to become approved. 

Step 3: Fill out the application.

When you apply, you’ll need to supply more information to your credit card issuer, such as the following information: 

  • Basic details, such as your name and address
  • Date of birth
  • Social Security number
  • Employment status
  • Gross annual income
  • Financial assets and accounts
  • Financial liabilities

Step 4: Take the next step.

Next, you’ll either get approved or denied. If you get denied, you may want to apply for a different credit card with another issuer. You might consider applying for a secured credit card. 

However, wait for a while to apply again because each credit card application triggers its own hard inquiry, which may cause your credit to dip.

Is a Credit Card Right for You?

Only you can determine whether you’re ready for a credit card. However, when you use credit cards responsibly, they can help you earn rewards, allow for unplanned expenses and help you build your credit.

Don’t get discouraged if you don’t get approved for a credit card right away. You can always look into other alternatives! Finally, don’t forget about using UNest Rewards to earn cash for your child’s UNest Investment Account for Kids. You can purchase products and services with our partners via the UNest app

Also, check out the USALLIANCE Signature Visa Card and earn 3% cash back on ALL purchases. Groceries, Gas, Getaways, and more-no category restrictions. Invest your earnings directly into your UNest account or right back into your pocket!

Follow this link to view the full terms, conditions, and disclosures for the USALLIANCE Visa Signature Card and apply today! 

 

 

Disclosure

College Savings Calculator is a hypothetical tool that demonstrates how monthly contributions, age-based asset rebalancing, and tax savings may impact the long-term value of your account, and do not take into account a portfolio’s underlying investment management fees. Calculations assume the private institution cost inflation is 2.8%, public out of state cost inflation is 3.9%, public in state cost inflation is 2.7%. Portfolio is assumed to have only stocks and bonds. Monthly equity returns are based on the historical data from the 10-year track record of the stock market (SPY). Monthly fixed income returns are based on the historical data from the 10-year track record of the bond market index (AGG). The current college expenses are provided by the collegeboard.org. Actual account performance may differ due to market fluctuations, changes in recurring investments, and asset allocation. The information provided here is for illustrative purposes only and does not represent actual or future performance of any investment option and is not intended to predict or project the investment performance of any security or index.