Hardest Credit Cards to Get

Hey WalletHubbers! Today we’ll go over how to find some of
the hardest credit cards to get approved for, in case you want to know which cards to avoid
or you simply like a challenge. You can see WalletHub’s latest picks for
the hardest cards to get by clicking this button. WalletHub’s editors constantly scour the
credit card market, comparing more than 1,000 offers in the process. And they update their selections when things
change. There are a few things to keep in mind about
credit cards that are hard to get, however. First, the hardest credit cards to get aren’t
necessarily the best credit cards. Sometimes, credit card companies can afford
to offer better rewards, rates and fees in large part because they will accept a deeper
pool of applicants. Other cards may just be posers, pretending
to be exclusive but really charging a lot for little benefit in return. Second, how hard a credit card is to get is
relative. For instance, most credit cards are hard to
get approved for if you have bad credit. On the other hand, some cards are hard to
get simply because you have to live in a particular area or have a certain type of job to be eligible. And other cards are exclusively available
to people who charge hundreds of thousands of dollars each year. That’s a lot for most of us, but a drop
in the bucket for some. Third, credit cards that are hard to get have
high rejection rates by their very nature. And getting rejected for a credit card can
hurt your credit score temporarily, making it harder to get approved the next time you
apply, unless you wait a few months in between. For those reasons, it’s important not to
pick a credit card based on exclusivity. The approval odds are stacked against you,
and it doesn’t really matter what your card looks like or how many people have the same
kind. Those things won’t save you money, and no
one really looks at your credit card anyway. Instead, your focus in choosing a credit card
should always be on finding the best terms – rewards earning rates, fees and APR, in
particular – among cards you have a high likelihood of being approved for, based on your credit
standing. So, if you pay your bill in full every month,
compare rewards cards in search of an offer that complements your lifestyle. If you have debt you’d like to pay down
faster, focus on 0% balance transfer cards and don’t forget to consider the cost of
transfer fees. And if you have a major expense coming up,
consider cards giving you 0% on new purchases. Finally, don’t forget that finding the right
credit card is only half the battle. You also need to responsibly manage your account
once you have your shiny new plastic. In particular, that means paying your bill
on time every month and only using a small portion of your credit line. With that, you’ve got what you need to compare
credit cards and make the right decision for your wallet! You can learn more and find details on the
latest offers by clicking the button here.

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