You can only get a credit card after the application approval from the Bank or the card issuer. The exact requirements you need to have differed from Bank to Bank. There are certain common criteria and eligibility requirements you need to meet and also some information you need to provide to apply for and get a credit card online issued.
In this guide, we will talk about the basic requirements and info you need to ensure so that you can get your credit card online fast and quick and make the procedure smooth for you.
These are the eligibility requirements:
These are some basic general criteria you need to meet to apply for and get a credit card successfully.
- In the United States, you need to be at least 21 years of age to apply for a credit card. Also, you can apply if you are at least 18 and have a parent’s permission or a verifiable source of income and earnings.
- The permanent residency also is a critical factor in card issuance. Most credit card providers need you to be a citizen or a permanent resident of the USA but there are some special cards for temporary residents with valid visas.
- Your income is also a very important factor in your credit card eligibility. Before the CARD Act of 2009, the companies could issue credit cards to anyone and even to people without an income source. But that has changed now and now you need to have a verifiable income source to apply for a credit card online in the USA.
- Your Credit history also counts when you apply for most credit cards online in the US. You should not be a defaulter and should have a good credit score to get your card issued.
INFORMATION REQUIRED FOR APPLICATION
Different card application needs different information about you but there is a general amount of information you will need to supply to the company to get your credit card issued.
Personal information required includes:
- Your Full name and DOB or date of birth
- Whether you are a US citizen?
- Your Social Security Number and/or your ITIN (Individual Taxpayer Identification Number)
- Your permanent address including your current home address and the length of time you have stayed there. At times you will also have to provide your previous address.
- Contact Details: Email & Phone
If you are taking a joint credit card then all the information about both the individuals will be required.
Employment and income information required include:
- First of all Employment. Whether you work full time or part-time, the title of your job and field of work
- Your employer’s name and contact information and the number of years you have worked with him
- Your income, before and after taxes and also if you have a secondary income or benefits or child support.
- If you are Self Employed then you will have to service your last year’s income tax return.
The Financial information required for applying for a credit card online is:
- All your account details including your saving and checking accounts with their current balances.
- Assets including investments, savings, and real estate
- The amount of rent and monthly housing payment you make
- Your current credit cards and debts including debit cards, personal loans, and car EMI payments.
Once all these formalities are dealt with and you become eligible for a credit card now is the time you can choose the credit card you want.
But before that you will be asked about some basic information:
- Additional cardholders in the family and details which include partner or dependent and this are also required if you want to make them joint holders for the credit card with you. You will also be required to furnish all their details too including name, age and contact info.
- If you want to apply for a balance transfer from a credit card you already have to the new card then you will have to submit the details of your current card, the bank and the amount of debt you want to be transferred.
Finally, once you have submitted the following information then you will be asked to check and review all the information you have filled up on the online form. And then and only then should you hit the submit button.
Also, the application cannot be withdrawn or recalled once it is submitted and thus you should be extra careful while filling it up.
These are the benefits of applying for a credit card online:
- Once you have a credit card issued then you can use the EMI facility for buying merchandise, gadgets and other expensive items
- A credit card is much safer than carrying cash and it is also theft-proof
- Using a credit card can improve your credit rating and make you eligible for loans
- Credit cards work across currencies and countries and thus you will never be stuck without cash
- You can earn reward points by using a credit card and thus enjoy discounts and facilities
- Credit cards come in handy in case of emergencies and accidents
- Credit cards are better than personal loans as there is no paperwork required once the card is issued.
- You can shop online with credit cards and make use of cashback and other offers
Thus we can see that there are many benefits of applying for a credit card online in the US as it gives you financial freedom and a sense of security so that you are never left wanting for cash. Thus it is definitely a good idea to go for a credit card online as it will help you with your daily shopping. And also in times of emergencies and accidents when you do not have time to go to the bank and the need is immediate you will always have funds.