How to Apply for a Credit Card for the First Time

How Can I Apply for a Credit Card as a Beginner?

How do beginners apply for a credit card? As a beginner, the first step is to check your credit score. After checking your score, you will have a better idea of what credit cards you can apply for online. Research and compare credit cards online. Responsible credit card use is crucial for maintaining good financial health, and can help an individual develop good credit habits from the beginning!

Max CashⓇ makes it easy to find the right credit card for you.5

Does Applying for a Credit Card Hurt Your Credit?

Applying for a credit card can potentially have an impact on your credit score. When applying for a credit card, the issuer or bank will typically perform a “hard inquiry” or “hard pull” on your credit report. These processes can affect your credit in different ways.

What Are Hard Inquiries? 

A hard inquiry occurs after you complete a credit card application. A  credit card company will check your credit report as part of their evaluation process, and this inquiry is recorded on your credit report. 

apply credit card

A single hard inquiry into your credit score may only result in a small or temporary dip in your credit score of around 5-10 points. However, multiple credit card applications and inquiries within a short period of time can have a larger impact on your score. These multiple inquiries signify to new lenders that you are seeking out a lot of credit, therefore potentially making you appear at a higher risk of default.

In order to minimize the impact of credit card applications on your credit score, it is important to only apply for credit cards that you are genuinely interested in and considering. It is best practice to space out credit card applications and research your options. By researching your options online before applying for a credit card, you will be able to learn your likelihood of approval without a hard inquiry. 

How Can I Get a Credit Card Online?

While you can typically visit a local bank branch near you to apply for a credit card, you can conveniently apply for a credit card online. Each issuer’s website will have a credit card application portion. After reviewing the options, select the card that you wish to apply for. When applying for a credit card, you will need to provide personal information. Types of personal information that you will need to apply include:

  • Your Name
  • Address
  • Date Of Birth
  • Social Security Number
  • Employment Details 
  • Income  

In most cases, your credit score and credit history determine your approval or rejection of a credit card. It is possible to get a credit card with bad credit, however, because subprime credit cards exist! Call Max Cash at 833-207-9052 to learn more.5

Can I Get a Credit Card with Bad Credit?

Is it possible to get a credit card with bad credit or with no credit? As mentioned previously, the answer is yes. Getting a credit card with bad credit may limit the options available. However, there are a few different options available and many online tips for getting a credit card with bad credit

There are types of credit cards for individuals with poor or limited credit history, including the following: 

  • Secured Credit Cards: Secured credit cards require you to make a security deposit, which then becomes your credit limit. Secured credit cards can be a tool to help you rebuild your credit over time as you make timely monthly payments. 
  • Subprime Credit Cards: You can apply for a subprime credit card online, and Max Cash can help!5 Subprime credit cards are an option for individuals with lower credit scores. 
  • Co-signed or Authorized User Credit Cards: Co-signed or authorized user cards can be a great option for an individual with no credit to get a credit card and build your credit history. If a trustworthy individual is willing to co-sign or add you as an authorized user on their credit card, you could benefit from their good credit history. 

Different credit card issuers may have unique criteria and qualifications for approving applications, and some branches are more lenient than others. Additionally, using any credit card responsibly, even if it’s designed for bad credit, can help an individual to improve their credit or build a responsible credit history over time. 

What Do I Need to Know About Applying for a Credit Card for the First Time?

Applying for a credit card is an exciting new step, but one that comes with serious responsibility. It is vital to approach this process carefully and conduct your research to ensure you make informed decisions and start building a good credit history. 

Before applying for a credit card online, it is important to understand your needs and consider how you will use a credit card. Credit card uses can range from cards that will help you establish credit, earn rewards, or provide a financial safety net in case of an emergency or large expense. By assessing your needs before you apply for a credit card, it will help you to choose a card that aligns with your goals. 

If you have no credit history, applying for a credit card with no credit may not be out of reach. This process is different from applying for a credit card with established credit. There are various starter credit cards that are available and designed for individuals who do not have a credit history. 

Building credit takes time. Using a starter credit card responsibly and making on time monthly payments is one of the best ways to gradually establish a good credit history. This in turn will widen the range of credit cards and benefits that you could qualify for as a consumer with good credit. 

Thinking about applying for a credit card for the first time? Max Cash is here to help! We work with multiple credit card providers to give you options to choose from. Whether you are searching for a secured credit card or a credit card with rewards, we’ve got you covered!5 Click here to get started.5 

A secured credit card can be a great way to build your credit and a convenient way to pay for purchases both online and in-store. Click here to learn more.5

By Z. Garcilazo

Z. Garcilazo is a financial writer for the Max Cash team with over 2 years of experience in the financial services industry. She has a passion for finance, and routinely authors blogs about budgeting, banking, and more.