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Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
Getting approved for a credit card primarily comes down to your credit score. So it's important to find a card that's a good fit for your credit profile, even if you have no credit at all.
Knowing your credit score and how to improve it is key, but it's not the only thing that matters when you apply for a credit card. Many card issuers have specific requirements and limitations that are also important to be aware of.
Below, CNBC Select shares everything you need to know about applying and getting approved for a credit card.
How to get approved for a credit card
Understand your credit score
Your credit card application approval odds are closely tied to your credit score. The most widely used credit scoring model among lenders is FICO® Score 8, and to get approved for the most rewarding credit cards, you'll typically need a good or excellent credit score.
Your FICO Score is based heavily on your payment history and total debt, but other factors such as the age of your accounts and your credit mix come into play as well. FICO Scores fall into five categories:
Improving your credit score is the simplest way to increase your chances of being approved for a credit card. Paying your bills on time and working to reduce your debt will strengthen your credit score over time.
If you're unsure where your credit score stands, there are lots of free resources to check your FICO® Score or VantageScore, such as *Experian Boost®(FICO® Score), Discover Credit Scorecard (FICO® Score; available to Discover cardholders), CreditWise from Capital One (VantageScore) and Chase Credit Journey (VantageScore).
Besides the scores, it's important to review your credit reports from the three major credit bureaus: Experian, Equifax and TransUnion. You can dispute errors you find to ensure the information contained in each report is accurate.
Services such as eCredable and Experian Boost could bump your credit score by allowing you to include more information on certain credit reports, including utility bills or cell phone bills. And you may want to use a credit monitoring service to keep a close eye on your credit report activity.
Experian Boost®
Cost
Free
Average credit score increase
13 points, though results vary
Credit report affected
Experian®
Credit scoring model used
Results will vary. See website for details.
How to sign up for Experian Boost:
- Connect the bank account(s) you use to pay your bills
- Choose and verify the positive payment data you want added to your Experian credit file
- Receive an updated FICO® Score
Learn more about eligible payments and how Experian Boost works.
Find the right credit card for you
Once you know your credit score and are working to keep it as high as possible, it's time to find the credit card that best fits your spending habits and lifestyle.
Start by thinking about what you want in a credit card. Having a credit card opens all sorts of possibilities for earning rewards so ask yourself whether you want to earn cash back, points or miles on your purchases. Also consider what spending categories, such as gas, groceries and entertainment, are important to you.
In addition to the type of rewards a card earns, you can narrow your choices further by digging into which cards you have the best chance of being approved for. Secured credit cards typically come with fewer benefits but are easier to get approved for with poor credit or no credit. The Discover it® Secured Credit Card is a top choice because it earns cash back, has a potentially generous welcome offer and after seven months there's an automatic account review to see if you can transition to an unsecured line of credit and return your deposit.
If you're carrying a balance on a high-interest credit card, consider transferring it to a balance transfer credit card that offers no interest for a set amount of time, usually 12 to 20 months.
Information about Discover cards has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication.
If you have good or excellent credit and you want to make the most of your credit card application, consider opening one of the best travel credit cards or take a look at the best welcome bonuses currently available. These cards are typically loaded with perks that more than justify the annual fee and earn valuable transferable points. For example, the American Express® Gold Card stands out for earning elevated rewards for dining, groceries at U.S. supermarkets and airfare. Plus, it offers various monthly statement credits and earns American Express Membership Rewards points which transfer to over 20 hotel and airline partners. Terms apply.
The American Express Gold Card is great for earning valuable Membership Rewards® points at restaurants worldwide and U.S. supermarkets.
- You can earn $400+ in dining and rideshare credits every year (Enrollment required for select benefits mentioned)
- Exceptionally rewarding for eligible restaurant and U.S. supermarket purchases
- No foreign transaction fees
- Larger annual fee
- Credits are more complicated, you earn them monthly or semi-annually
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You'll know upfront exactly how much you'll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That's up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
- See Rates & Fees
Foreign transaction fee
None
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
Gather the information you need
To complete a typical credit card application, the card issuer needs some basic information about you. For a consumer credit card application, you'll need to provide your:
- Full legal name
- Current address
- Social Security number
- Date of birth
- Email address
- Phone number
- Gross annual income
You may also need to share your employment status, type of residence and whether you have checking and/or savings accounts. If you don't have a Social Security number, some banks allow you to apply for a credit card with an ITIN (Individual Taxpayer Identification Number) instead. Your before-tax income can usually include a spouse's or partner's income if you're over 21 years old and you use that income to pay your bills.
For a business credit card application, you'll need to collect the same information you would for a personal credit card application and a bit more. Small business credit cards will consider your business's revenue and your personal income. Keep in mind, your personal income can include the profits from your business. Depending on your business's legal structure, you'll also need a business tax ID or EIN (Employer Identification Number). For a sole proprietorship, you can use the owner's Social Security number as the business tax ID. In this scenario, you'd enter the SSN at two different points of the application.
Know the application requirements
Aside from the income or credit score requirement to get approved for a card, many banks or specific credit cards have additional guidelines, especially when it comes to qualifying for a card's welcome bonus. So it's always essential to read a card offer's terms before applying.
American Express limits you to earning a welcome bonus offer for a specific card to once per lifetime. For example, if you've had the Delta SkyMiles® Gold American Express Card before, you could get approved for the card again, but you'd be unable to earn its welcome bonus. However, you could still qualify for a welcome bonus with a different co-branded Delta card like the Delta SkyMiles® Gold Business American Express Card or Delta SkyMiles® Platinum American Express Card because they are considered separate products. Terms apply.
Other cards restrict how frequently you are eligible for a welcome bonus. Most Chase credit cards are subject to the Chase 5/24 rule, which means you generally won't be approved for a Chase card if you've opened five or more cards from any bank in the past 24 months.
What to do if your application is denied
If your credit card application is denied, the card issuer will send you a rejection letter outlining why your application wasn't accepted. This allows you to correct the issues, which could be a low credit score, too many hard inquiries or a high credit utilization rate. There's no clear-cut rule for how long you should wait until you reapply for the same card, but you'll want to address the reasons for your denial and a good rule of thumb is to wait at least three to six months.
You could also apply for a different credit card with a lower credit score requirement or one issued by a different bank. But before you do this, it's worth calling the card issuer to plead your case. Every time you apply for a credit card, you'll get a hard inquiry on your credit report, which temporarily lowers your credit score. So you'll want to exhaust all of your options for submitting another application. Some banks have dedicated reconsideration lines and you may be able to get approved by calling providing additional information or moving credit lines from existing cards you have with the same issuer.
Bottom line
Qualifying for a credit card largely boils down to your credit score. But regardless of what your credit score is, there's a credit card you're likely to be able to be approved for. That's true even if you have poor credit or no credit history at all.
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*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.
For rates and fees of the Discover it® Secured Credit Card, click here.
For rates and fees of the American Express® Gold Card, click here.
