Qualifying for a Credit Card

If you’re at least 18 years old and have a regular source of income, you’re well on your way to qualifying for a card. But despite the invitations from card issuers, you’ll still have to demonstrate that you’re a good risk before they grant you credit. The proof is in your credit record. If you’ve financed a car loan or other purchase, you probably have a record at a credit reporting bureau. This credit history shows how responsible you’ve been in paying your bills and helps the credit card issuer decide how much credit to extend.

Before you submit a credit application, get a copy of your credit report to make sure it’s accurate. Contact the credit bureaus listed in the telephone directory under "credit" or "credit rating and reporting." Because more than one credit bureau may have a file on you, call each until you locate all the agencies maintaining your file. The three major national credit bureaus are:

Anyone who takes action against you in response to a report supplied by a credit reporting agency — such as denying your application for credit — must give you the name, address and telephone number of the credit bureau that provided the report.