How To Get Approved For Any Credit Card

what's up you guys it's Matt here so in this video I wanted to go over how you can get a proof for any card that you apply for so I'm gonna get into this in just a second before I start I want to remind you that I do a giveaway every single week I giveaway to Amazon gift cards at the end of the week and all you have to do in order to enter those giveaways is just comment on at least one video for the week like at least one video for the week and also be subscribed to my youtube channel if you do all of those things you get one ticket in the Hat if you want multiple tickets in the Hat then comment on multiple videos so that's pretty much it let's get right into this so how do you get approved for any card that you apply for I know this sounds a little bit sketchy obviously you physically can't get approved for every single card that you apply for but you can make it easier on yourself this is the thing that a lot of people make it more difficult than they have to make it because they just go out and apply for anything they want to apply for without actually going through the different steps of understanding if you will get approved for that card so this is gonna help you out this whole entire breakdown is going to help you out if you have if you struggle if you're in like the average credit range or fair credit range or something like that then you will have more leverage and really understand exactly what you can apply for and what you need to do in order to apply for higher to your cards or up or to your cards or whatever you want to call them but this is gonna help you out this whole entire guide so let's go ahead and get into it so the first thing you want to do and this should be on everyone's list absolutely everybody's list is access and know your credit score if you don't know your credit score then why are you blindly applying for cards because you're not gonna get approved if you don't know what your credit score is now if if you don't know what your credit score is and it's ridiculously high it's always above 800 then you don't have to worry about anything you don't have to physically know what your credit score is but if you're in the average range if you're in the range where you still will get denied for some cards or most cards then you need to know exactly what your credit score is and there are a bunch of sites out there that will help you with this and yes they're not all gonna report the same credit score because sometimes they report different information the the credit cards will report different information those bureau's so if you're looking at TransUnion vs. Experian things like that you're you're going to get a different score and that's why you have all these different scores laid out on on paper so some of those sites that you can look at is you can actually look at Credit Karma that's everybody's go-to I have Credit Karma and I look at it just for like a an average or a roundabout number that's where I go to look at my credit score a lot of times I have different credit scores with credit card issuers so if you have credit cards like say Capital one or you have Discover or you have other cards that will give you your credit score they'll they'll show you it what your credit score will be and sometimes your bank will show you what your credit score will be so you get your credit score in so many areas that you wouldn't get before like a lot of actually what ten years ago maybe less than that or you weren't able to get your credit score anywhere you physically had to go out and buy it or get it or purchase the ability to obtain your credit score which is ridiculous because then it gave you like a hard pool and you're just like okay what's going on here so you're able to look at different credit scores and get a roundabout number an estimate an estimate on that number so with Credit Karma and different credit card issuers or credit cards you'll be able to understand what that credit score is um and then you can also pay for your score if you wanted to if you wanted to get the most accurate score you can go and pay for your score but I just getting a roundabout number understanding what your score is I'm understanding where your balances are and go from there the next thing is you need to improve your credit this is key it's 100 percent key and if you don't understand the things that impact your credit score then you're not going to be able to apply for cards well you can apply for them but you're gonna get denied I'll tell you that so understand exactly what impacts your credit score and what's a high impact what's a low impact all of those things so I have a breakdown here of all the things that impact your credit score and I'll go through it and hopefully you write this down just take like a little notepad and write it down but the first thing that impacts your credit score is payment history that's 100 percent key make sure you pay everything one time don't let below a hundred percent if you miss a payment and I'll explain exactly what missing a payment means but if you miss a payment then you go down to 99 percent that's a whole nother teardrop from 100 to 99 percent is a whole nother tier you can never get above that 99 percent once you miss one payment you can't so just make sure that you make every payment on time now when it comes to making payments on time there are credit cards that don't report until like the third month so if you miss the first month and it goes and you get a late payment they're not going you get a late payment fee sorry they're not going to report that you paid late until probably the next month but just don't let it get to that point some people or some issuers like Amex will actually drop your credit limit even though they gave you the fee and they didn't report the late payment they're gonna drop your credit limit from ten thousand or like $1,000 just because you made your payments late and they don't trust you things like that so it's not going to they're not gonna report right away but just make sure you make it make your payment on time if you let it go to three months and you're gonna have reported late payment or lack of a payment and then you're gonna be down to 99 percent also you have credit utilization make sure that's below 30 percent that's where good is and I look at all these credit sites people tell me that it has to be below a certain percentage or it should be at 10 percent or 20 percent or zero that's impossible then you're just not going to use your credit line so just make sure it's below 30 percent that's what's considered excellent if you're below that 30 percent you're gonna be great in that area so payment history and credit utilization are hard or high impacts to your your credit score and then also hard inquiries hard inquiries or hard inquiries are something that's not really a huge impact I think it's a low impact to your score but just don't apply for 7,000 cards and if you do make sure you get approved for them so that's something that's gonna impact your credit score also derogatory marks this is something that is a high impact don't have anything go to collections if you do then make sure you find a way to pay it off and work with a company so that you can pay it off but the derogatory marks really hurt your credit that's like the highest impact that and payment history the highest impact of your credit score just because they want to make sure you're paying payments on time and that payments are balances aren't going into collections you also have two other things age of credit and total accounts so total accounts is a low impact so is age of credit I think that's a medium impact actually so total accounts they want you to have over I think it's 22 accounts that's considered excellent which can which can be loans it can also be credit cards it could be a bunch of things so a lot of people have multiple student loans out there and that will give them like five accounts there so these things all of these things will impact your credit score you need to understand these things and understand what you need to improve in order to get a better credit score for that range or for the credit card that you're applying for next thing is you want to understand the credit tier that you're in because a lot of cards will tell you you can apply for this card if you're in the good credit range or you're in the excellent credit range or you're in the average credit range or you're between credit ranges sometimes they'll make it confusing on you and say hey you'll get approved if you're in this range but also everything else has to be in line so understand exactly what credit tier you were in and if you do obviously you look at your whole Credit Karma situation understand exactly where you are and you'll be able to apply for these cards and get approved but another thing which is number four is you want to understand what tier the credit card is in because if the credit card is in a higher tier but you understand where your tier is and it's lower then you're not gonna get approved for that card just make sure that you understand exactly what tier you were in and what tier the credit card is in so that you can you know apply for this card and get approved every single time another thing that you want to do is understand your debt to income ratio know exactly where it is because even if you have an average score and they give you a range like say the credit card issuer will say the credit range is 670 all the way to 750 then they're you're gonna cross between two tiers to credit tiers so then you need to understand where you need to be in order to apply for it if you're at 670 if you're at 670 your debt-to-income ratio needs to be amazing so if you don't know what that is obviously your income needs to eclipse your debt so you need to make sure that you make a lot of money compared to the amount of debt that you're paying out don't have a bunch of debt out there and expect to get approved for cards because you won't another thing is don't apply for the first card that you see don't blindly apply for that card this is kind of just like a little tip here and you don't want to apply for the first card that you see because sometimes you get targeted for upper tier cards which you can't qualify for and I'm not saying targeted in the mail I'm saying targeted online because you talked about it a lot of times your microphone is listening to you I know scary but a lot of times your microphone is listening to you so if you say American Express American Express American Express and you say Platinum Card Platinum Card Platinum Card you're gonna get a bunch of advertisements for probably the American Express Platinum Card even though you don't qualify for it so that's just a little tip there and then number six the last thing that I have on this list is include all income on the application a lot of people like to include just their working income or they'll include what they made last year not what they're going to make next year or this year current year and you need to understand exactly what you're going to make and what the potential that you can make so say you work an hourly job and you make $30 an hour so how much you're actually gonna make what's the potential that you could possibly make if you if you were in between halftime and full-time what's the potential the potential is the highest amount so if you make $30 an hour and you work an hourly job between 0.5 ft or halftime in full time then you can basically say I make $60,000 a year because of the fact that you have potential to make $60,000 a year it's not necessarily lying on your application but it's telling the truth because what if you all of a sudden start to become more full-time than halftime or what if you are four more full-time than half-time and what if you get overtime what's the potential that's what you need to report it's not anything that set in stone because you can change that as you go but you need to make sure that you set what the potential will be a lot of people work hourly jobs and you need to understand exactly what the potential will be also report all your income because if you have passive income if you have other income other places make sure all of that comes in it will only help you out because obviously with more income you get approved for a higher credit line and you get approved in general so that's something you need to look at so I'm looking at all of this stuff these are my tips on how you can get approved every single time that you apply for a credit card just make sure that you do all of these things and you don't skip any steps understand everything now if you are a person that's in the 800 credit range then you'll be fine the only thing that will set you apart or that will be a difference maker in this situation is if you are over 524 if you're over 524 then you're just gonna get denied for chase cards so just don't be over 524 if you do have a wife or a spouse or whoever that can apply for other chafes cards and they can apply for chase cards but if you're over 524 you're not gonna get approved for those cards that's just the only downside to it so do all these things you know you'll get approved and yeah you can go from there so that's my video guys hopefully it wasn't too long hopefully I didn't ramble on a little bit too long but I hope you found value out of it if you did make sure you hit the like button also hit the subscribe button for more videos just like this one and remember that I do a giveaway every single week I give away to Amazon gift cards at the end of the week and all you have to do in order to qualify for that giveaway is just comment on at least one video for this week like at least one video for this week and also be subscribed to my youtube channel if you do all of those things then you get one ticket in the Hat if you want multiple tickets then just comment on multiple videos so it's as simple as that but I'm gonna have to get out of here and until next time I'll see you guys later [Music] [Applause] [Music]

Channel: Matthew Perry

Views: 8,042

Rating: 4.7821784 out of 5

Keywords: Matthew Perry, nikeocho11, how to get approved for any credit card, how to get approved for more credit cards, get approved for more credit cards, credit card, credit card tips, credit card hacks, credit card tricks, get more credit cards, brian jung, use credit cards to create wealth, how to play the credit game, reconsideration line, ask sebby, credit shifu, reconsideration life, denied for a credit card, rejected for credit card, credit cards, credit, no credit, amex

Id: F6RoeImyENk

Length: 13min 21sec (801 seconds)

Published: Tue Sep 24 2019