How to find out if you’ll be accepted for a credit card before you apply
Applying for a credit card can feel like a bit of a minefield sometimes.
If you’ve struggled with your credit history in the past, you might be worried you’ll be turned away when you apply.
Every application you make is marked on your credit history, and too many marks can put lenders off if they think you’re desperate for credit. But what can you do to prevent this from happening?
Use an eligibility calculator
New tools in the world of credit cards mean it’s now possible to find out whether you’ll be accepted for a credit card before you apply.
These eligibility calculators carry out what is called a soft search on your credit report. This is a search that’s only visible to you and the credit reference agency – no future lenders can see it. By doing this, you don’t have to worry about it affecting your chances of getting credit in the future.
Depending on the tool you use, you’ll then be told whether or not – based on the information you’ve given – you’ll be accepted for the credit card if you apply. Some calculators give you a simple yes or no; where others might place you on a scale of how likely you are to be accepted.
Ocean’s QuickCheck feature doesn’t leave a mark on your credit history and can let you know in 60 seconds whether you’re likely to be accepted for the Ocean Credit Card (39.9% APR representative variable).
Give your credit history care and attention
The best way to boost your chances of being accepted for all kinds of credit is to pay particular attention to your credit history.
If you haven’t checked recently, it’s really important to do so as soon as you can. These days, you can look at your credit history as often as you like for free by using services ClearScore and Noddle.
Checking it regularly means you can keep an eye out for any mistakes that might crop up, as well as allowing you to track whether there are any negative marks against you.
There are many things you can do to help improve your credit history. In this blog, we’ve listed five key starting points to help get you on the right track in three months. If you haven’t used credit before but you pay rent, you might be interested to know you could improve your credit history just by paying your rent. You can find out more about this here.
Remember, you should be on the electoral roll if you want to borrow. If you’re not signed up to vote, it’s difficult to get credit as lenders use this to verify your address. You can head to the gov.uk website here to register.
Disclaimer: All information and links are correct at the time of publishing.