You can unlock a whole new world when you apply for a credit card online and start using the card for deals and discounts. However, the journey to getting the card may have certain twists and turns. 

Picture this: you’ve done your homework, carefully chosen the right credit card, and submitted your application with confidence. But then, out of the blue, your application gets rejected. It’s an unexpected blow, especially after all the time and effort you put into ensuring you picked the perfect card.

It is a frustrating experience, especially when credit cards have become essential for managing expenses and enjoying financial flexibility. For this reason, understanding the intricacies of credit card approvals is vital. Many applications are rejected due to the following:

• Low credit score
• Incomplete information 
• Documents with mismatch in information and more

Read on to understand what can help you to secure credit card approval the first time.

Fundamentals of a Successful Credit Card Application

Follow the steps listed below to ensure that your application is instantly approved: 

• Find the Right Card

Selecting the right credit card is an essential step. Every card has a separate target audience and different eligibility criteria. This is why if you choose a random card, it might not suit your lifestyle, and you may not be eligible for it. 

Before finalising the card: 

• Do your research
• Compare options 
• Read online reviews 

• Check Your Eligibility

While you are doing your research, make sure to check whether you meet the eligibility terms of the credit card you are choosing. Once you have cleared this step, the process becomes far simpler. This way, you can avoid rejection and successfully apply for the card.

• Check Your Credit Score

Many times, your application can be affected by a low credit score. Even if you’ve had a high score in the past, various factors can cause it to decrease over time. When you apply for a credit card, the issuer will consider your current credit score, so it’s important to check it before applying. If your score is above 730, it’s a good time to go ahead and apply for the card.

• Maintain a Stable Employment Status

Your employment status also affects your credit card application. Credit card companies often look for a stable income to ensure you can manage payments. Therefore, having a steady job throughout your career is crucial. Issuers consider reliable income as a key factor in the decision-making process.

• Manage Your Debt

Your credit score is vital to getting approval on your application for a card. Thus, paying your loan EMIs and other existing credit card bills on time is key to a good score and getting seamless approval. 

• Get Your Documents Ready

When you apply for a card, you will need to submit essential documents, such as:

• ID Proof
• Address Proof
• Income Proof
• Photograph

Keeping your documents ready would ensure that your application is processed smoothly and quickly. 

Also, ensure that all the information (including spellings of your name and address) across documents match. If not, your application may be held back.

• Provide Correct Information in Your Application

When you apply for a credit card, make sure that you:

• Furnish accurate information
• Fill the form cautiously with correct spellings
• Review the form before submitting

Once this step is completed, you have to wait for approval to get your new credit card. 

Having a credit card comes with a treasure trove of benefits, including rewards, cashback, and enhanced purchasing power. Once your application is approved, getting a physical card can take up to 15 working days. So, getting an instant virtual credit card that aligns with your spending categories can be an excellent way to enjoy your credit card right after approval. 

Consider the One Credit Card in your quest for the right card. With it, you can earn 5X reward points on your top two spending categories each month. This card comes with an app that helps you manage your finances easily. 

The OneCard App helps track your daily spending and also helps you set budget limits for various categories. This ensures you stay within budget and avoid overspending. This app allows you to submit your application, too, and grants instant approval. To start enjoying all the benefits, apply now!