To boost your chances of getting a credit card, make sure you know your credit score and leverage prequalification tools.
Whether you’re eager to build your credit score, start earning rewards, pay down a balance with an intro APR or find an emergency payment method, there are plenty of reasons to decide it’s time to apply for a credit card.
But what happens if you aren’t approved? Not only will you not receive the card you wanted, your credit score can be damaged in the process – thanks to a hard pull on your report.
Before you apply for a credit card offer, you should carefully consider your approval odds, as well as whether the card is right for you. With a little research and planning, you can boost your chances of finding a card that matches your lifestyle and of being approved. Here’s how.
Know your credit score
The first step to applying for a credit card – before you even begin researching specific products – is to know your credit score. It is important to know where you stand in a lender’s eyes, so you can estimate how likely you are to be approved for a card. Then, you can take a look at products designed for your credit range.
There are plenty of free services available online to keep track of your score, and you can pull a full copy of your credit report from each of the three major credit bureaus once per year on AnnualCreditReport.com. On the report, you’ll be able to visualize the factors that go into your scores, such as your open accounts and payment history, to get a better idea of how you look to lenders.
Find a card that matches your credit range
Once you know your credit score and understand the factors that go into it from your credit report, you can identify what credit range you fall in. This plays a huge role in determining which cards you can qualify for.
FICO credit score ranges
|Credit range||Score range|
Your likelihood of being approved for a specific credit card depends on the range you fall into. Different card offerings are designed for different kinds of customers. By choosing a card built for cardholders in your credit range, you maximize your chances of being approved.
See Related: Comparing the various types of credit cards
Top cards for each range
Very good/excellent credit
|2% cash back at gas stations and restaurants on up to $1,000 in combined purchases every quarter|
1% cash back on all other purchases
|1.5% cash back on every purchase, every day||4% cash back on dining and entertainment|
2% at grocery stores
1% on all other purchases
Looking for cards that match your credit range? Check out our favorites below.
Check for prequalified offers
If you’re worried about your approval odds, you can check for prequalified credit card offers using tools like CardMatch™. That way, you’ll know if you qualify before you apply for a credit card and trigger a hard credit inquiry.
Additionally, many issuers have tools on their websites that allow you to screen prequalified offers:
- Chase prequalified offers
- American Express prequalified offers
- Bank of American prequalified offers
- Capital One prequalified offers
- Citi prequalified offers
Consider building your credit before applying
If the card you were hoping for is just out of reach, you might be better off taking some time to build your credit score before you apply. You don’t want to risk applying and suffering a ding to your score, only to be denied approval for the card.
There are several steps you can take to build your credit score, but the most important are making all your payments on time and keeping your credit utilization low.
Ensure your application is competitive
When it’s time to actually fill out a card application, make sure your information is accurate and complete. When you list your estimated income, don’t forget to include any side money you earn.
Avoid applying for too many credit card offers at once. Beyond effects to your credit score from hard pulls, applying for too many cards in a short period of time signals to issuers that you’re desperate for credit and a risky investment.
The most important thing you can do to boost your chances of being approved when you apply for a credit card is to do your research. Make sure you know your credit score to determine which cards you qualify for and that the card’s benefits are best for you. Then, you can take advantage of prequalification tools like CardMatch to see which cards you can get before you apply. Keep in mind that just because you aren’t prequalified for a card doesn’t mean you won’t be approved.
*All information about the Capital One Savor Cash Rewards Credit Card has been collected independently by CreditCards.com and has not been reviewed by the issuer. Capital One Savor Credit Card is no longer available through CreditCards.com.