Nerdwallet: How to Apply and Get Approved For a Credit Card in Nerdwallet

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According to Wikipedia Nerdwallet is an American personal finance company, founded in the year 2009. The founders of Nerdwallet are Tim Chen and Jacob Gibson. The company offers an app and a website that is aimed to render assistance to users in making personal financial decisions. Its first product was a web application that offers comparative information about credit cards. Later on, it generated large quantities of content to help increase the results of the search engine. The goal of Nerdwallet as a company is to provide information that will educate users in making financial decisions. This is done by providing reviews and comparison of various financial products, which includes credit cards, investing, banking, insurance, and loans. While, its website is designed mainly for the purpose of millennials and gives information on credit card selection, banking, stock trading, mortgage loans, and, insurance policies.

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Nerdwallet

Nerdwallet is one of the credit unions that has a good relationship with about eight banks and dozens of insurance companies. The company is transparent and self-critical when it comes to management style. Nerdwallet gives you the needed tools to understand and enhance your credit score. In addition, their pros include tracking your income and expenses made, thorough handling of credit score issues, good mobile apps, useful editorial content, and strong financial product browsing and educational tools. Their cons include the usual dashboard, few categories of the transaction, transaction management that is minimal, non-standard account registers, and odd layouts.

How to Apply and Get Approved For a Credit Card in Nerdwallet

Applying for credit care is quite simple, but getting approved for a credit card needs a little planning and understanding before applying. Below are some steps on how to get approved for a credit card;

  • First off, you must know about your credit scores as this is one of the most vital factors in the card issuer’s decision to approve your application for a credit card. To know more about the credit score visit this link; https://www.nerdwallet.com/home/register?flow=credit-score&redirect.
  • Secondly, access your credit scores; you can do this with the help of some prominent scoring models like FICO and VantageScore.
  • The next step is to work on your credit. In case you are wondering how to increase your credit scores, you can do this by making payments on time, avoiding new debt, and keep the balance on existing credit cards low. You can lower your credit utilization by making plans for an existing balance to be paid down on time.
  • Don’t just go applying for the first offer that comes your way. The fact is that if you have bad credit, you may not be eligible for a credit card. The best thing to do here is to call the card issuer and ask about the specific card requirements.
  • Add every one of your earnings or income in your application; the card issuers put into consideration your credit scores as it is a standard for your creditworthiness, but the scores do not reflect your income. The card issuer calculates your debt to income ratio that helps to determine your payment ability. You can make changes in your ratio by adding to your income or decrease your debt. You can boost your income if you make money outside your full-time job by including it in your application.
  • Do not give up even if your application was denied. You might have done everything right and then your application is still denied, worry not all you need do is to place a call to the card issuer and ask for reconsideration. Make sure to plan before placing that call. You have the right to inquire from the issuer why your application was denied. You can also check the report of your free credit by visiting the link of the AnnualCreditReport.com. Here is the link below; https://www.annualcreditreport.com/foreignLocation.action. to get more information on how to apply for a credit card simply visit this link; https://www.nerdwallet.com/article/credit-cards/apply-for-a-credit-card.

In conclusion, Nerdwallet has a lot of helpful tools that will help improve your decision financially. The company makes even the most complicated of money topics and questions simple to understand. For more information about the Nerdwallet credit union visit the link below; https://www.pcmag.com/reviews/nerdwallet.

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