A credit card allows a consumer to borrow money from a lender (the credit card issuer) to make all his purchases and lets him pay back the borrowed money within a grace period which is generally 25-30 days. The money borrowed and returned within the grace period doesn’t carry any interest, but in case the payment is delayed, then interest will be charged on the money owed to the lender.

The process of applying for a credit card is very simple but getting qualified for the right card isn’t as easy as the application. If a credit card application is rejected, it will again affect the credit score. You will not have a shortage of choices since there are hundreds of websites that offer free financial tools to choose the best credit cards. It requires proactive planning well in advance if one plans to apply for a credit card. There are a few basic details one must know beforehand since it makes applying for a credit card an easy task.

• Try to maintain at least good credit scores: This alone decides the eligibility for a particular credit card type. Although not accurate, an average credit score of below 600 is considered bad and above 700 is considered excellent. It is important for one to work on their credit scores by ensuring timely payments, maintaining low balances on existing credit cards and avoiding new debts to maintain a good credit score to qualify for most of the reward plans offered on credit cards.
• Maintain a low utilization ratio: Around 30% of the credit score is determined based on the debts owned. One can have a planned method to pay down existing balances, early paybacks of bills, periodic payments of purchases made in a month, etc. so that the debt ratio on the credit card always looks low.
• Talk to the issuer before applying: If the credits aren’t good enough, then there are high possibilities of getting denied a credit card. This will add to the damages of the credit profile. Hence, it is important to know the eligibility criteria well before applying for a credit card. If it is difficult to find out or unclear one can call the card issuer and ask about the requirements of a specific card.
• Provide accurate information of the income: It is good to mention all details of the income sources of the individual including full-time earnings, part-time, income from assets, etc. This will strengthen the profile for credit card issuers to determine the applicant’s ability to make payments. On the contrary, it is important not to overstate the income. If falsified information on the application is identified, a card issuer can charge a credit card fraud suit against the applicant leading to fines and imprisonment.
• Select the most suitable card based on various charges: Usually, card issuers who offer more rewards or points have a higher interest rate. If the ability to make payments is limited, it is better to choose a card that offers less or no rewards but charges a lower interest rate. Also, consider various other fees associated with applying for a credit card like annual fees, cash advance fees or late payment fees.
  While the above points are common for anyone who would want to apply for a credit card, there may be certain additional considerations for international applicants who are students in the United States and wish to apply for a credit card. It is very important to have a credit card for establishing a line of credit for foreign residents in the USA especially for purchases like a mobile phone or a house. The main steps involved in getting a credit card are:
• Get a Social Security Number: An SSN is a primary requisite in the US to make all financial transactions in purchases like homes, cars, etc. An SSN application requires the applicant to have employment in the US that is authorized by the Department of Homeland Security. Then, an application for a Social Security Care (Form SS-5) with supporting documents for proof of work-authorized immigration status, age and identity need to be submitted.
• Build credit history with a secured credit card: Since there isn’t much in the credit history of the applicant to qualify for a rewarding credit card, they can choose a secured card to slowly build the scores. A steady income can be added eventually to support this along with the school/university address serving as a permanent address to qualify for a better card in future.