Everyone knows that the credit card market has tightened so it's important that when you are searching for a new card that you only apply for top credit card for your specific scenario. To make sure that you will be approved for the credit card it is necessary that you understand your needs as well as your credit score. The FICO score is how most credit card issuers determine first if you will end up being approved and second what your borrowing limit will be. The last thing that for you to do is apply for a card you have very little chance of being authorized for. Each time you do this you decrease your credit score making you a much less attractive prospect for credit. So take a genuine look at your credit first and make an application for only the best credit card for the situation. For example, if you have an excellent credit score you can apply for and get approved for every card. However if you have a poor credit rating then you will really need to read the card company
's specification about who are able to get accepted for their cards. Here is what most of the companies are looking for in the credit prospect. First, they want to see if you're a stable person. They will take a look in two ways. First they are likely to look at your employment history; they would like to see that you have worked for that same employer for over one 12 months. Next, they are going to look at your house . addresses; they are looking to see for those who have lived in the same home for over 2 yrs. If you are constantly changing work or moving this sends up the "red flag" and many companies will avoid you. The next thing they will be looking at is the quantity of debt you are currently carrying. Which means that when they look at your credit report they will consider the balances of all your accounts. For those who have very high balances in ratio to your credit limits this will scare off a lot of businesses. For example if you have several charge cards that are
very close to their own credit limits, credit card companies will frown about this. Your cards should have less than 30% owed in it in this current credit environment. Another thing that they'll look at is how much credit you get access to. For example let's say that you've got a home equity line of credit with regard to $150, 000 and 5 credit credit cards with $15, 000 credit limits and also you currently have no outstanding balances, that means that if you proceeded to go crazy and spent to where you had been maxed out you would get access to $225, 000! So the lender you're applying to will weigh your use of your ability to make payments onto it. So when you are ready to obtain a new credit card you should apply for the best credit card for you personally unique situation.

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