Things to consider when applying for a credit card
How to increase the approval rate by 10 times
The most important thing is to follow the instructions carefully. Be sure to fill out everything on the card application. Hobbies and family information are often overlooked, but fill in the blanks as much as possible. Be sure to attach your ID. If you prepare a copy of a card with a high credit limit, you may have a better approval rate and the limit may be higher. The most important thing on the application is answering the question about your job. Even if you have a sales job, it is better to write down as an office or managerial position if possible. It is also important to write down a higher income. Lastly, it is important to not ignore and receive confirmation calls.
Things to consider when applying for a credit card
Be clear about what you will primarily use the credit card for, and choose a card that fits the purpose.
Credit cards that are applied impulsively without a fixed purpose may lead to delinquency.
Be careful of credit card offers that serve no purpose.
Many people apply for credit cards that are on promotion because the credit card companies give out freebies and they are very easy to get approved. However, they are not officially with the credit card company, but are businesses who sign a contract with the credit card branches and attract potential customers. For these people, opening a credit card directly related to their commission, so they sometimes use expedient methods to make customers apply for their credit card. In fact, sometimes credit cards are approved for people who are not eligible for a credit card.
In addition, most of the credit card companies' branches hire workers as needed. In some cases, the timing of application review is deliberately delayed depending on the performance of the branch, leaving customers feeling frustrated and may not know whether or not their application has been approved.
There wouldn’t be any problem, if you use these cards without any outstanding balance. However, your identity might become vulnerable if you share your personal information with not trusted credit card companies. In this case, the credit card company may not be held liable because they are not official employees or branches of the credit card company.
Also, there are downsides associated with opening a new card just to get a sign-up bonus.
When applying for a credit card, the process goes through "Applicant's Credit Inquiry." A fake credit card sign-up offer or other irresponsible, random credit inquiries from financial institutions (second credit financial institutions excluding banks) can put a significant burden on an individual's credit status, even if they don’t have bad credit.
This is because some financial companies compare the number of credit inquiries by period and “flag” as a transaction avoidant if the number of inquiries increases. Just being flagged can a disadvantage to using financial institutions.
When receiving a card, if possible, you should designate a branch of the credit card company to pick it up yourself or have it delivered to home or work.
In some cases of credit card accidents, a credit card delivered to the workplace is received by someone other than yourself, causing a problem. You shouldn't be suspicious of your co-workers, but it is safe to receive the card yourself just in case.
After receiving the card, you must first sign in the signature line on the back of the card.
If the back of the card is not signed, you will not be able to receive protection from the credit card company in the event of fraudulent activity in case of theft or loss. Therefore, you must sign the back of the card immediately after receiving the card, and when paying by card, you must sign the receipt the same as the signature on the back of the card.
Make a copy of the signature on the back of the card and keep it separately in case the card is stolen/lost. In the case of fraudulent activity, theft/loss should be reported in advance. However, if necessary, you can receive full loss protection by proving that the signature on the back of the card is different from the signature on the receipt where fraudulent sales occurred.
If there is no signature on the back of the card, you will not receive any protection.
Therefore, if you make a copy of the back of the card and keep it separately in case of an emergency, even if it is stolen or lost, it becomes an important source of evidence to prove the inconsistency of the signature in case of fraudulent sales.
(Do not forget to report card theft/loss immediately)
Be sure to read the terms and conditions!
Read the terms and conditions carefully upon receiving a new card. However, when the card is stolen/lost or the product you purchased needs to be returned, the terms and conditions that are important for loss protection are specified.
However, most customers do not pay attention to the terms and conditions because it is both annoying and difficult. If you read the terms and conditions at least once and mark important areas with a highlighter, etc., you can prevent losses in case of unexpected situations and take wise measures in the event of an accident.