Tips & Tricks When Applying for a Credit Card | 10 Ways to Improve Your Odds for an Approval


Hi there, it’s Ernest from Trip Astute. In
this video, we’re exploring some tips and tricks that you can use when applying
for credit cards. (light chiming music) For most people, credit cards are the best way to earn points
and miles for free travel, especially with opening bonuses. However, applying
for credit cards can be a difficult process, even for those who have been
collecting points for years. When you get deeper into the hobby, you’re likely to
have a large amount of credit offered to you, so issuers can be sometimes
hesitant to extend more credit to you. So in this video, I’m going to share my top
ten tips and tricks to improve your chances when applying for credit cards.
Number one: Understand your credit score and history. It used to be pretty tough
to get a hold of your credit score. However, nowadays, it’s easier than ever.
Most credit card issuers provide you access to your score. There’s also free
sites like Credit Karma, Credit Sesame, and Quizzle, which should give you an
idea of your score. Just keep in mind that most of these services are pulling
from one of the three credit bureaus, so you may want to check in with all three.
Lastly, you can request a full credit report every year from
annualcreditreport.com, which includes data from all three major credit bureaus.
I recommend reviewing your credit report every year to make sure that you don’t
have any misreported accounts or discrepancies. Number two: Search for the
best available offer when applying for a specific card. Make sure you do a quick
Google search to see if there are any better offers for the card.
It’s common for issuers to have different bonus offers depending on the
landing page, so it pays to look around for the best offer. Number three: Take a
screenshot of your offer when applying. This not only helps if you don’t receive
your offer and need to contact the issuer, but also helps you to remember
the terms and conditions for the bonus. Most bonuses will require you to spend a
certain amount within the specific time period, so it’s helpful having a record
of it. Number four: State your entire income. This is an area where people
often shortchange themselves. Make sure you report your total income from all
sources. I know many of you have side hustles and gigs. Don’t hesitate to
include the income that you earn from these sources in your total. I definitely
advise against misrepresenting the information in any way. You just want to
make sure that you’re representing the big picture and improving the odds for
an approval. Number five: Apply for multiple cards at once. This is a common
trick used by the points community and is sometimes referred to as an “app-o- rama”
or AOR. If you’re looking to apply for two or more cards at once, it’s better to
apply for the cards on the same day, preferably around the same time. The
reason for doing this is because the issuers will not see the credit inquiry
from the other issuers if you apply at the same time. Keep in mind that you
shouldn’t use this trick to apply for cards from the same issuer, as they will
definitely see your multiple applications. But if you were to apply
for a card from American Express and one from Capital One on the same day, it
should work just fine. Also, make sure your credit score is high as you’ll like
to see a slight drop after the multiple credit inquiries are processed. Number
six: Be mindful of your application dates and credit inquiries. The general
recommendation is to wait at least 90 days between new credit card
applications or “app-o-ramas.” Of course, there are other factors to consider
like Chase’s 5/24 rule. For more information, check out our Chase Ultimate
Reward’s 101 video. Number seven: Call the reconsideration line if you’re not
approved. If you’re not immediately approved for a card, you may want to
consider calling the issuer’s reconsideration line. Just be sure to be
polite and respectful. When I call these lines, I usually say that I wanted to
call in and see if there was any additional information needed to get my
application approved. The only caveat is business cards. I would not call the
reconsideration line until you get an actual denial as they often have a more
comprehensive review and approval process. Number eight: Consider transferring your
available credit. I found that issuers are sometimes reluctant to give you
additional credit if you already have a lot of available credit with them. When
speaking to a rep on the reconsideration line, you may want to consider offering
to move some of your available credit to the new card if they’re willing to
approve you. I’ve done this several times and it seems to work
really well, especially when I’ve had a premium card with a huge available
credit limit that I never planned to utilize. Number nine: Consider
downgrading cards or changing them to other products. This tactic won’t allow
you to get a bonus, but it can be useful when you want to get rid of a card with
a high annual fee. Instead of simply canceling the card, you may want to opt to
downgrade or convert it to a free version of the card. An example would be
converting a Chase Sapphire card to a Freedom card, or a American Express
charge card to an Everyday card. This not only allows you to retain your points,
but also avoids any negative impact on the age of your accounts on your credit
history. Number ten: Don’t limit yourself to
personal cards. Many of you are eligible for business cards, even if you don’t
have a full-blown business. Things like selling items online, performing a
service, or consulting, can make you eligible for a business credit card. Just
make sure you’re transparent about the income that you earn. You don’t need to
have a huge income stream for them to approve you, and it’s better to be
truthful and honest to avoid any audits. We’ll do a video on the topic soon with
more details. And those are my top ten tips and tricks when applying for credit
cards. Do you have any suggestions on improving your chances for getting
approved? If so, please share them below. Also, let us know if you have any
questions. I’ve included some helpful links in the video description. If you
enjoyed this video or found it useful, please hit the “like” button and consider
subscribing. It’s completely free and you’ll get notifications on all our new
updates. Also, check out our two Points and Miles playlists. One is geared for
those of you starting out in the hobby, and the other is for those of you who
are more advanced and experienced. Until next time, travel safe and travel smart.

23 comments on “Tips & Tricks When Applying for a Credit Card | 10 Ways to Improve Your Odds for an Approval”

  1. ErykhGoomakeep says:

    For Amex, it is typically not possible to do product change between credit and charge cards, at least from what I heard

  2. Steven Miller says:

    App o Rama works great. I applied for 2 Chase cards, an Amex card and a Discover Card all within one hour on the same day and was approved for all 4 instantly.

  3. Maurice Ellis says:

    your very genuine you will get alot of subcriptions quickly 1000 by next week.

  4. Jose Perez says:

    Thank you Ernest ! so great information you provide, I can't wait to your next video review. 

    Jose P.

  5. MrIwillFlyThere says:

    I’m looking at going for the Amex Plat and one additional card in January. I’m thinking of Ink or maybe a Hyatt or SPG. Great info as always! I’ll be doing my apporama in Jan! Lol

  6. Jam R.T. Silva says:

    Did the app-o-rama a month ago with AmEx bce, Chase FU and Wells Fargo rewards minutes apart and got approved from all 3. I’ve been getting pre-approved from delta AmEx platinum lately with 80,000 bonus miles after spending $3,000 in 90 days. Hopefully they still have that offer come February 2018, I’ll be applying for sure, planning to travel next year.

  7. Ahmed Diab says:

    Awesome video Ernest. I didn't expect this video to be that informative but you nailed it.

  8. Sandra Hernandez says:

    I really value his advise but I dont like the background music its to load and distracting from the topic.

  9. Abdul Razak says:

    I truly appreciate the way you take your time to explain and articulate every point. Even kuku head like mine can comprehend lol . Thank you my friend.

  10. d3rsk0n says:

    I applied for 3 cc 5 days ago, my Credit Report was pulled the same day without instant approval, SO frustrating .
    I do Not understand Why The Banks make me wait Days or Weeks for Mailing Approval?? Why ? thats total BS

  11. M W says:

    Your videos are really helpful. Could you please answer my question. I m just a beginner in credit card things. I had 5 years & 2 month credit history with 2 cards before. Then, I applied 2 credit cards at the same time 6 mth ago with my friend’s advice. I got approved. But right now, my age of credit is down to 2 years and 10 mths. Currently, I have 776 credit score. I want to apply BOFA travel credit card with no annual fee cos I have travel plan. But now, I am reluctant to apply. Although I have good credit score, I don’t have good age of credit. Plus, if I got approval, my credit age would be 6 month. So, should I apply right now or wait? And should I apply 2 cards at a time again or just one card in terms of credit age. Thank you so much.

  12. JC Williams says:

    I applied for 2 Chase cards on the same day… wish I would of saw this video first! Got denied for the second card because of the inquiry… Next time!

  13. Leon says:

    Don't Trust BPI Credit Cards they will inject you an annual fee with interest'. Very difficult to contact them especially in their Hot 89100 even email they will not response you immediately they will promising only but pure of lies ( Dream on)!!!

  14. BabyRuth says:

    Thanks a lot, I will do this very informative videos that you shared, I subscribed and like and ring the bell for more videos coming and share also. God bless

  15. Credit Coach Philippines says:

    It worked! And in a month, three credit cards became ten! Thank you!

  16. Yong Xu says:

    How many cards should I have? I have like 5 credit cards already. All from 2 years ago, I am ready for a new credit card, but it is a ideal thing to do for having so many credit cards??

  17. Jimmy Lee says:

    Good tips, but nothing different from other youtubers channels

  18. Meshach Brown says:

    736 TransUnion 739 Equifax and 623 Experian 1 derogatory Mark from about 2 Years ago. Can I apply for the chase freedom AND or Amex everyday blue card ?

  19. WildCam_ says:

    Hey,

    I am about to apply for my bank's CC and discover's CC sometime in Mid-Jan. Is it still best to apply for them at the same time?

    The bank, I will have to fill out in paper because the online is bugged when it gets to income. Discover I can apply online.

  20. Commando Master says:

    How do credit card companies check the income you stated is true? I've heard lots of people just put down the minimum requirement for the amount of income for that credit card and get approved right away.

  21. Zipporia Murrell says:

    Hi there. What is the best business card to apply for? I am a independent insurance broker. In other words I run my own business/practice.

  22. Rudy Moreno says:

    How many hard inquiries do you think are too many ? I would appreciate it thanks!

  23. Green Eyes Chavis says:

    How can you get around a company asking for tax returns? Alliant turned me down for tax returns. They said I had write off on my tax returned and denied me after a approval

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