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Whether you’re looking to improve your credit score, start earning rewards, pay off your balance with your initial APR, or find a way to make an urgent payment, there are many reasons to apply for a credit card.
But what happens if you are not approved? Not only will you not get the card you wanted, your credit score can also be damaged in the process – thanks to the rigorous review of your report.
Before you apply for a credit card offer, you should carefully consider your chances of being approved, as well as understanding if the card is right for you. With a little research and planning, you can improve your chances of finding a card that fits your lifestyle and getting approved. Here’s how:
Find out your credit score
The first step to applying for a credit card—before you even start looking into specific products—is to find out your credit score. It is important to know where you stand in the eyes of the lender so that you can assess how likely it is that you will be approved for a card. You can then look at products designed for your credit range.
There are many free online services to keep track of your score, and once a year you can get a complete copy of your credit report from each of the three major credit bureaus at AnnualCreditReport.com.
Find a card that matches your credit range
Once you know your credit score and understand the factors that affect it from your credit report, you can determine which credit score range you fall into. This plays a huge role in determining which cards you can qualify for.
FICO Credit Score Ranges
| Credit range | Score range |
|---|---|
| Poor | 300–579 |
| Fair | 580–669 |
| Good | 670–739 |
| Excellent | 740–799 |
| Perfect | 800–850 |
Your likelihood of being approved for a particular credit card depends on the range you fall into. Different card offers are designed for different types of customers. By choosing a card designed for cardholders in your credit range, you maximize your chances of approval.
Best cards for each range
Below are the ideal cards for each FICO credit range.
| Bad / limited credit | Fair/good credit history | Very good/excellent credit |
|---|---|---|
|
Discover it® Secure Credit Card |
Capital One QuicksilverOne Cash Rewards Credit Card |
Pursuit of Unlimited Freedom® |
| 2% cashback at gas stations and restaurants on combined purchases up to $1,000 each quarter, then 1% | Cashback 1.5% from each purchase every day | 5% cashback on ticket purchases through Chase Ultimate Rewards® and Lyft (until March 2025). |
| 1% cashback on all other purchases | 5% cashback on hotel and car rental bookings through Capital One Travel | Cashback 3% for purchases in pharmacies and restaurants |
| Matches all your first year cashback | 1.5% cashback on all other purchases |
Looking for cards that match your credit range? Check out our favorites below.
Check Prequalified Offers
If you’re concerned about your chances of approval, you can check personalized credit card offers with tools like CardMatch™. This way, you will know if you qualify before you apply for a credit card and initiate a hard loan request.
In addition, many issuers have tools on their websites that allow you to view pre-screened offers:
Consider building up your credit before you apply
If the card you were hoping for is out of your reach, you may be better off taking some time to build your credit score before you apply. You don’t want to risk submitting an application that could lower your score only to get your card denied.
Keep in mind that your credit score is actually a snapshot for creditors to see how you are managing your debt. As a general rule, the higher your credit score, the better your chances of getting credit products and getting the most favorable terms.
If you want to improve your credit score, here are some smart steps you can take:
- Pay bills on time: Your payment history is 35 percent of your FICO credit score. Even one late payment that is at least 30 days past due can seriously damage your credit history.
- Keep credit card balances low: Your credit utilization ratio – how much of your available credit you use – is 30 percent of your credit score. Credit experts recommend that your revolving credit balances should not exceed 30 percent of your credit limits – the lower the better.
- Review your credit reportsA: You can get free credit reports from three major credit bureaus at AnnualCreditReport.com. Check your credit report carefully for erroneous or fraudulent information. If you encounter incorrect information, file a claim with the credit bureaus to have it removed.
- Become an authorized user: Ask a close relative with a good credit history to add you as an authorized user to one of their credit cards. Even if you don’t actually use an account or don’t have a physical card, you’ll benefit when the primary account holder makes credit card payments on time, which helps build your credit payment history.
Make sure your application is competitive
When it comes time to complete your card application, make sure your information is accurate and complete. When you list your estimated income, be sure to include any extra money you earn.
Avoid getting too many credit card offers at the same time. In addition to affecting your credit score due to multiple complex requests, applying for too many cards in a short period of time signals to issuers that you are desperate for credit and are making risky investments.
Another way to increase your chances of being approved for a credit card is to apply for a credit card that is meant for applicants with your credit score. For example, if you have fair credit, you might consider applying for the Capital One Platinum Credit Card, which is for consumers with a FICO credit score between 580 and 740.
What to do if your application is rejected
If you’ve been denied a credit card, you may be tempted to immediately try again with a different card. Before you do this, it is important to determine why your application was rejected so that you can resolve potential problems with your credit.
When a lender denies you a loan because of information they discover in your loan file, you are required by law to send you an explanation letter called an “adverse action letter.” This letter must include the name of the credit bureau that provided the credit report and up to five reasons that led to their decision to deny you. For example, a lender may indicate reasons such as “high credit utilization rate” or “late payments” that influenced their decision.
When you are denied credit, you are legally entitled to a free copy of your credit report. One specific action you can take is to review your credit – look for the issues mentioned in the lender’s letter to see what steps you could take.
You can then contact the card issuer by phone and speak with a loan officer. At the very least, you will be able to get more information about the lender’s decision. And although there is no guarantee of approval, you can state your position and achieve a positive result.
bottom line
The most important thing you can do to improve your chances of being approved when applying for a credit card is to do your research. Make sure you know your credit score to determine which cards you qualify for and whether the benefits of the card are right for you.
You can then use tools like CardMatch to see which cards you can qualify for before you apply. Keep in mind that just because you didn’t pre-qualify for the card doesn’t mean you won’t be approved.
*All Apple Card information* has been independently collected by CreditCards.com and has not been verified or approved by the issuer.
Editorial disclaimer
The editorial content on this page is based solely on the objective judgment of our contributors and is not based on advertising. It was not provided or ordered by credit card issuers. However, we may receive compensation when you click on links to our partners’ products.