The Ultimate Guide to Credit Cards
Wednesday, July 8, 2020

Credit Card Applications: How to Apply for 2020‘s Top Cards

Credit Card Applications: How to Apply for 2020‘s Top Cards

credit card advice

Brittney Mayer
By: Brittney Mayer
Updated: June 5, 2020
Advertiser Disclosure

Before the rise of the internet, submitting credit card applications was a laborious process. Your choices were often limited to the mail or the bank, which essentially came down to choosing between filling out a long, tedious form — or enduring a long, tedious interview.

While modern credit card applicants can still choose to honor their ancestors by using the mail-in form — or practice the art of small talk with their local teller — today’s credit seeker has an even better option: the online application. Online credit card applications are usually the fastest way to apply — often in 13 lines or less — and typically resulting in an answer in just 60 seconds.

The application will request standard personal information, such as your name and address, as well as information about your income and employment status. You’ll also need to agree to allow the credit card issuer to run your credit, the result of which will determine whether your credit card application is accepted, and, if so, the terms you are offered by the issuer. Let’s take a look at some of our top choices for credit cards available today for a range of credit scores, from the excellent, good, fair, and bad classifications.

Excellent Credit | Good Credit | Fair Credit | Bad Credit

Best Cards for Excellent Credit (750+ FICO Score)

The crème de la crème of the credit card applicant pool, those with excellent credit have high credit scores and pristine credit reports. They’ve shown a long, steady history of positive financial behavior, including having a healthy mix of credit and maintaining all of their accounts in good standing.

To reward their credit diligence, excellent credit applicants are almost guaranteed acceptance for most credit cards (provided they meet income requirements). Additionally, these cardholders will be offered the lowest interest rates and fees, as well as many of the best rewards and signup bonuses.

EXCELLENT CREDIT RATING

★★★★★
5.0

OVERALL RATING

5.0/5.0
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% 15 Months
N/A
14.99%–23.74% Variable
$0
Good/Excellent

EXCELLENT CREDIT RATING

★★★★★
5.0

OVERALL RATING

5.0/5.0
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99 - 23.74%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
  • No annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
14.99% - 23.74% Variable
$0
Good/Excellent

EXCELLENT CREDIT RATING

★★★★★
4.9

OVERALL RATING

4.8/5.0
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
16.99%-23.99% Variable
$550
Good/Excellent

+See More Cards for Excellent Credit

The caveat to the near-guaranteed acceptance will often be meeting an individual issuer’s requirements for application frequency. For example, Chase is infamous for rigorously upholding its “5/24 Rule,” which stipulates that applicants cannot have applied for more than five new lines of credit in the last 24 months, regardless of their credit score.

Best Cards for Good Credit (700+ FICO Score)

Before you reach excellent credit status, you’ll spend some time in the good credit category. Those with good credit scores have demonstrated many of the same healthy credit behaviors as their excellent-credit counterparts, such as paying their bills on time and as agreed, but may not have the same diversity of credit types or as extensive a credit history.

Thanks to their healthy histories, good credit applicants are likely to be approved for many prime credit cards, including great travel and cash back cards. While not as low as the rates offered to excellent credit consumers, those with good credit can still expect low interest rates and fees.

GOOD CREDIT RATING

★★★★★
5.0

OVERALL RATING

5.0/5.0
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% 15 Months
N/A
14.99%–23.74% Variable
$0
Good/Excellent

GOOD CREDIT RATING

★★★★★
5.0

OVERALL RATING

5.0/5.0
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99 - 23.74%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
  • No annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
14.99% - 23.74% Variable
$0
Good/Excellent

GOOD CREDIT RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 22.99% Variable
$95
Good/Excellent

+See More Cards for Good Credit

One of the main differences between applying for a credit card with good credit instead of excellent credit will likely be your approved credit limit. While most people believe the credit limit is set by their income alone, income is only one of the factors. As with the general approval for a credit card, the limit for which you are approved will be most heavily influenced by your credit score.

Best Cards for Fair Credit (650+ FICO Score)

Being in the “fair” credit category shows you’ve made some of the right moves — but still have room to grow. This may mean you’re working on building your credit for the first time, or could indicate you have had a few hiccups with your credit, such as making several late payments, and need to rebuild.

Fair-credit consumers represent more of a credit risk to issuers and, thus, will not receive the same attractive rates as those with good or excellent credit. They also won’t qualify for the same rewards deals and signup offers, though consumers with fair credit can still find solid rewards card and great everyday cards.

Surge Mastercard® Review

at Celtic Bank'ssecure website

FAIR CREDIT RATING

★★★★★
4.7

OVERALL RATING

4.1/5.0
  • All credit types welcome to apply!
  • Free access to your Vantage 3.0 score From TransUnion* (When you sign up for e-statements)
  • Monthly reporting to the three major credit bureaus
  • See if you’re Pre-Qualified without impacting your credit score
  • Fast and easy application process; results in seconds
  • Free online account access 24/7
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
See website for Details
N/A
25.90% - 29.99%
See website for Details
Bad, Poor Credit
Credit One Bank® Platinum Visa® Review

at Credit One'ssecure website

FAIR CREDIT RATING

★★★★★
4.7

OVERALL RATING

3.8/5.0
  • Enjoy peace of mind with $0 Fraud Liability
  • Qualified applicants will receive a card with a competitive APR and no annual fee along with 1% cash back rewards on all purchases, terms apply
  • View updates to your Experian credit score with free online access, terms apply
  • Make paying your bill easier with the ability to choose your payment due date, terms apply
  • Access your account on-the-go with the Credit One Bank mobile app
  • Never miss an account update with customizable text and email alerts
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.99% to 23.99% Variable
$0 - $99
Fair
Credit One Bank® Visa® Credit Card with Cash Back Rewards Review

at Credit One'ssecure website

FAIR CREDIT RATING

★★★★★
4.5

OVERALL RATING

3.8/5.0
  • Qualified applicants will receive exclusive benefits such as 1% cash back rewards on all purchases, no annual fee, and a competitive APR. Terms apply.
  • Manage your account quickly and easily from your mobile device by using the Credit One Bank mobile app.
  • Use your Apple device to make purchases securely through Apple Pay®. Apple Pay is a registered trademark of Apple, Inc.
  • Your account is safeguarded against unauthorized charges with Zero Fraud Liability at no additional charge.
  • Take advantage of free online access to your Experian credit score and credit report summary so you can track the key factors impacting your credit health. Terms apply.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.99% to 23.99% Variable
$0 - $99
Fair

+See More Cards for Fair Credit

With fair credit, credit card options will be more limited than for those with better credit. To test the waters before applying for a credit card well outside your qualification range, you should check for pre-qualification or pre-approval offers.

Screenshot of Citi Pre-Approval Form

Pre-qualifying for a credit card can be a good way to test the waters without impacting your credit score.

Unlike an official credit card application, the applications for pre-qualified credit card offers use a soft credit pull, rather than a hard pull, so it won’t affect your credit. If you receive a pre-qualification credit card offer, it can indicate you may be approved for that credit card were you to apply.

Best Cards for Bad Credit (<650 FICO Score)

Consumers with bad credit have likely experienced some bumps in the credit road, perhaps including several missed payments, defaulted loans, or even bankruptcy, and are at the bottom of the credit totem pole. Perhaps your financial position has changed or you’re simply ready to put your bad credit days behind you. The road ahead may be challenging, but have to start somewhere. Because of the poor credit behaviors demonstrated by those with bad credit, many issuers are wary of providing credit, meaning you may need to focus on issuers who specifically deal with subprime borrowers.

Another option for bad credit consumers struggling to obtain an unsecured credit card is to apply for a secured credit card. Requiring a cash deposit to open, secured credit cards are easier to get than unsecured cards but have many of the same features. For example, a secured card with a MasterCard logo can be used to make purchases anywhere MasterCard is accepted.

Surge Mastercard® Review

at Celtic Bank'ssecure website

BAD CREDIT RATING

★★★★★
4.8

OVERALL RATING

4.1/5.0
  • All credit types welcome to apply!
  • Free access to your Vantage 3.0 score From TransUnion* (When you sign up for e-statements)
  • Monthly reporting to the three major credit bureaus
  • See if you’re Pre-Qualified without impacting your credit score
  • Fast and easy application process; results in seconds
  • Free online account access 24/7
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
See website for Details
N/A
25.90% - 29.99%
See website for Details
Bad, Poor Credit
Indigo® Unsecured Mastercard® - Prior Bankruptcy is Okay Review

at the issuer'ssecure website

BAD CREDIT RATING

★★★★★
4.7

OVERALL RATING

4.0/5.0
  • Pre-qualifying today will not affect your credit score
  • Less than perfect credit histories can qualify, even with prior bankruptcy!
  • Mobile friendly online access from anywhere
  • Fraud protection for stolen or lost cards
  • Account history is reported to the three major credit bureaus in the U.S.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
24.9%
$0 - $99
Fair/Good
NetSpend® Visa® Prepaid Card Review

at Netspend'ssecure website

BAD CREDIT RATING

★★★★★
4.6

OVERALL RATING

3.6/5.0
  • With Netspend Direct Deposit, you can get paid faster than a paper check.
  • No late fees or interest charges because this is not a credit card.
  • No Overdraft Fees on purchases using your card.
  • Use the NetSpend Mobile App to manage your account on the go and get text message or email alerts (Message & data rates may apply).
  • Card issued by MetaBank®, Member FDIC. Card may be used everywhere Visa Debit cards are accepted. Click "Get My Card " for full details.
  • See additional NetSpend® Prepaid Visa® details.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
Up-to $9.95 monthly
Not applicable

+See More Cards for Bad Credit

The credit card issuers who specialize in applicants with poor credit make up for the higher risk of their customers by charging cardholders fairly high interest rates, and many also charge additional fees. Compare your options before applying for a subprime card to ensure you have the best deal.

Chart Showing Credit Score Considerations

Of course, the way to qualify for the best credit cards is to improve your credit score. Paying your debts as agreed, establishing a healthy mix of credit types, and maintaining low balances on your credit cards can all contribute to rebuilding your credit.

Your Credit Future is an Application Away

Whether you like to put pen to paper, chat it up in person, or fly through an online application, applying for a new credit card can be an important step to building or maintaining your credit. The way you use — and the way you pay — your new credit card will influence your overall credit and help determine your future creditworthiness, so be sure to practice responsible credit behaviors.

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