By Admin on Jul 24, 2009 in Credit
For example, are they less likely to give you a card if you don’t work, or list homemaker, or what not? Even if other members of your household or significant other is bringing in the money?
does where you live matter?
Do they only consider your credit score as being the single most important factor?
Also why are credit card applications getting more extensive? Now you have to list the total amount of money in all of your checking accounts, savings accounts, 401K, etc etc, other investments…whereas before you just had to fill in a simple little application and you were good.
I just always wondered what made a person more likely or less likely to be approved of a card.
I went bankrupt chapter 7 in early 2005, so as of right now my chances for getting anything are pretty much nil,but I have luckilly been approved of quite a few cards in 2007 & 2008, so I’ve been establishing credit history all that time…so you’d think that by now I’d be approved more easily, but I’m not. I apply once in a blue moon, and I still get denied.
The only bad thing I can think of is my bankruptcy.
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Credit card companies are quick to respond to the growing trend of Internet users by offering online credit card application. As you might have noticed, many credit card companies whether online or offline for that matter, announce they offer the best credit card online, even with instant approval if you apply for it on their website. This method allows the applicant to get approval within a few minutes after submitting the online application form at the company website. Although this isn’t truly instant credit card application, it definitely saves some time when compared to the traditional offline process. The approval process takes only a few minutes, but the credit card company will still need to manually mail you the physical card. This may take up to 10 days before you receive it.
It could take up to a month or two before you receive your credit card if you apply for one via the more tradition ways. You would have to visit the office of the card company personally or call up the customer service hotline to request for an application form to be mail to you. Then, once you have submitted your supporting documents you will need to wait for a reply as the company runs a check on your credit history.
–house.blogspot.com/search/label/Credit%20Cards
The good thing about applying online for a credit card is that you know if you are approved for it or not within a fairly short time. Another advantage of filling in the application online is that it also allows you the opportunity to compare the cost of credit offered from a lot of different card companies.
Robin | Jul 27, 2009 | Reply
Chapter 7 stays on your credit files for 10 years.
If you’re not employed, that’s also a major problem. If you have $500 in a savings account, the bank may allow you to get a secured credit card but you must tell them about the bankruptcy because they’ll find out when they run your credit report.
stan c | Jul 29, 2009 | Reply