1. Filling out a credit card application
Applying 4 Credit
Filling out a credit card application

2. What We’re Covering Today
The different ways to apply for credit
Basic information needed
Other possible information needed
Tips for applying with bad or no credit
What do if you are denied

3. The Different Ways to Apply for Credit
As we have discussed the two primary methods for applying for credit are online and through traditional paper.
The process for applying for credit is established by the lender.
More and more lenders are leaning towards an online approach due to the convenience and speed of response.

4. Credit Application Information
Amount of loan requested
Proposed use of the loan
Your name and birth date
State I.D. Number
Social Security and driver’s license number
Present and previous street addresses (2 years min)
Present and previous employers and their addresses

5. Credit Application Information cont…
Present salary
Number and ages of dependents
Other income and sources of other income
Have you ever received credit from us?
If so, when and at which office?
Checking account number, institution, and branch

6. Credit Application Information cont…
Savings account number, institution, and branch
Relative’s address and telephone number
Your marital status

7. Additional Information
References (Personal and Professional)
Complete Job History
Material Status/Dependents
Credit History
Basically Anything the Lender Wants To Know
However, thanks to The Equal Credit Opportunity Act lenders may not use race, nationality, age, sex, material status, or certain other factors to discriminate against you!

8. Tips for Applying with Bad/No Credit
Establish a checking or savings account
Borrow against your savings account
Open a department store credit card
Gas Cards!
Get a Cosigner

9. What To Do If You’re Denied
Find out why!
If you are denied based off of a credit report provided by a credit bureau, the ECOA gives you the right to know what was within the report, free of charge.
If it’s because of an error, get it fixed!
Whatever the issue, solve it!
If it simply a matter of income or lack of credit history, give it some time and try again. Lenders take into account how many inquiries are made about your credit and will hold it against you if they feel there have been too many.

10. Wrap Up & Review
Credit applications are becoming more automated and accessible.
You are going to need information!
Some of it is very basic, other information may not be.
Getting credit with bad, or no history, can be difficult. Be sure to take baby steps when first establishing your history.
If you are denied, find out why and fix the issue.