Applying For A Credit Card On Line

when applying for a credit card on line is it normal for the card company to ask for your banking details

Yes it is, along with your employment details

2007-01-30 00:31:23 by A G

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Is it like opening a checking account and they give you a temporary card? Or do I have to wait 10 days? I need this credit for an emergency, any suggestions? FYI, bank is Bank of America

If you get instant approval, you could have your card in 5 - 10 business days. If you talk to the representative from Bank of America they may be able to put a rush on your card and you could have it within a day or two. I have lost my credit card before form Bank of America and they overnighted me a new one. If you explain your situation, they maybe able to rush out the card for you. Good Luck!

2007-01-05 07:22:28 by Mizz Know It All

Is that the amount that you are approved for? or is that the maximum of what you could get. It has a amount already listed after telling me I was approved.

It is the amount that you are approved for right now.

2008-07-31 22:53:10 by Sasha08

I recently was approved for a credit card with a line of credit of $500. I applied for more cards but i was wondering if that could hurt my score since i really don't have a score. or do I?

The short answer is yes, applying for many new accounts often hurts your credit score more than applying for a single new account. There is no magic number of applications that you should limit yourself to, but in general, the fewer the better. Research has shown that people who apply for credit multiple times within a short time period tend to over-extend themselves and are more likely to default at some point.

Use your new card for a few months or until they raise your credit limit. By then you will have established a history for others to see.

Remember to 2 most important things that affect your credit score
1) Payment history
2) amount owed.

Just those 2 account for 65% of your score. Another rule of thumb is to never use more then 30% of your available credit line. In your case do not charge more then $150 on your card. Doing so is the fastest way to increase your score. This is called debt utilization. Go above 30% and watch your score drop.

Learn more about credit at the following FICO web site. It will help you to understand credit
http://www.myfico.com/Default.aspx

Also the fact that one pays off the card every month does NOT mean your score will rise any faster. This is because the creditors report only that you paid on time and what your balance owed was at the statement closing date. They do not report that you paid in full. If you can pay online before the statement closing date (instead of waiting to pay on the due date), then it will show a $0 balance, this will improve your score. But the most important part is that you will not have to pay any interest no matter when you pay it as long as you pay it off in full.

Hope this helps answer your question.

2009-01-09 08:41:29 by mendel B

I'm trying to fix bad credit so I applied for a credit card on line and when the bill for a $59.00 annual service fee arrived before the card, I decided that I didn't want it. While I was going through all the pages of the on-line application there was one page that stated that I had thirty days to cancel, but the paperwork I got in the mail says nothing about this and to access this page on-line I would have to go through the process of applying for another card (not happening). Also, the paperwork that came with the card says that I have to call a phone number to activate the card before it can be used. QUESTION: Do I need to call or e-mail these people and tell them I don't want the card anymore (it hasen't been 30 days yet), or, if I just don't activate the card does that mean the account has not been verified and so then it becomes null and void?

This same thing happened to me. if you dont activate your card then it is not valid. Cut it up and throw out all the paperwork. Once the credit company sees you didnt activate your card during the 30 days, they will remove you from the system and retract on their offer.
Congrats on trying to get out of your financial situation!

2007-02-19 22:39:55 by teksonn