Best Time Of Day To Apply For Credit Card – Is There One?

  • Post category:Credit

You might have heard that there is a better time of day to apply for a credit card. Whether your application is being completed online or over the phone, this would mean that planning your timing is essential. If you are wondering when the best time of day to apply for credit is, we can help. We researched this process from numerous professional sources so that you'll know when to make your attempt.

In most cases, no time of day is better than others when applying for a credit card. But if the company needs to ask for additional information, it would be best to use it whenever their customer service is open.

Now that we know there isn't usually a better time of day to apply for a credit card, we'll look at why you might still consider only applying whenever their customer service is open.

You might also be wondering how you can increase your chances of getting a credit card or how you can get the most credit when applying. For the answers to these questions and more, read on and see what our research has shown.

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Why you might want to apply for a credit card when customer service is available

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You can get instant approval in most cases when you apply for a credit card online or over the phone. The credit card issuers have access to your credit bureau information the moment you authorize them to do a check, resulting in a card being issued or denied quicker than ever.

These automated systems do not take breaks and are never off the clock. Twenty-four hours a day, seven days a week, you can apply and get approved or denied a line of credit. So why would it be better to phone during regular business hours?

There are several reasons why this could be advantageous. In some instances, there can be items that flag your application that need to be remedied by a customer service representative.

Having them standing by and ready to help may get you approved, rather than waiting to contact them the next day during business hours.

Information that was keyed in incorrectly and additional clarification questions that the credit card issuer might have are the main reasons why an application would get delayed.

By calling in during business hours, you will be able to get these taken care of at the time of your application.

How can I increase my chances of getting a credit card?

Whether or not you currently have credit cards and want to add a new one or are looking to get your first one, you might be wondering how to increase your chances of approval.

While there is no surefire way to do so, there are some steps you can take before you ever apply.

Find your current credit information.

Before applying for a credit card, you should see where your credit stands. The three major credit bureaus are legally required to give you a credit report annually upon request. But there are other ways to get this information.

Online services like Credit Karma will retrieve your credit information and give you your score from two of the three credit bureaus. This is a free service, as well as the credit monitoring they provide. 

A credit card company will want to make sure that you can afford to pay for any charges you incur from using the card. They also want to know that you have a history of making payments on time.

They will also need to be sure that you aren't overextended on your current credit based on your income.

Now that you have your baseline, you'll have a better idea of whether or not you should proceed with the application.

If it all looks great, consider applying for the card of your choice. But if some issues need to be addressed, get them taken care of first.

Take steps to increase your credit score.

If your score is too low for credit card approval, it's not a permanent state that you're in. You can take certain steps to improve your score, sometimes quickly. 

Look at your credit report. If there are any errors, especially ones that are lowering your score, report them to the bureaus immediately. They will remove them if they find them falsely attributed to you. This raises your score.

Consider paying down current debt before you apply, as this will increase your score and approval odds. 

In the worst of credit scenarios, your score will increase over time so long as you don't have anything else negative on your report. Delinquent debt will fall off after seven years, raising your score.

The older your credit is, the higher your score will be. Hard inquiries, like credit applications, lower your score in the short term but fall off after two years, leading to your score going up again.

Use online approval odds.

Credit score services like Credit Karma will offer credit card offers based on your credit information. They list these by approval odds, from best case to worst case.

While this doesn't guarantee approval, it will give you a great idea of which cards might be best to consider applying for.

Don't be afraid to ask for reconsideration.

What happens if you get denied? Though frustrating, it doesn't necessarily mean a NO forever. Most companies will take a new application in six to 12 months. If your situation has changed, you can always try again.

You can also phone in and ask for reconsideration. You were most likely rejected in the company's automated system based on the data they received.

Calling in or writing will have a real person look at your application. This will sometimes lead to approval.

Reconsideration isn't just for the initial credit that you are seeking. Many consumers have been denied credit line increases on their credit cards, only to contact the company and ask them to take a second look.

There is no guarantee that they'll override the automated approval process. But phoning in and talking to a live person is a trick that sometimes works.

Man holding a credit card.

How do I get the most credit when applying for a credit card?

You will need to focus on several items to get the highest line of credit. The first is your income. Be sure you are reporting your income accurately and include every revenue source that could be counted toward your income.

Alimony, spousal maintenance, and child support can be combined with your wage income. The higher this amount, the more credit you are likely to receive.

Be sure you have a low income-to-debt ratio. The less money you owe, but the more money you make, will lead to higher spending limits.

You're much more likely to get a high spending limit if you don't have cards that have high utilization rates.

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How many credit cards should I have?

A good mix of credit is one factor that leads to a healthy credit score. This means having installment loans, like auto payments and home mortgages. But it also includes revolving credit, like credit cards.

Having more than one credit card will be beneficial, so long as you use them wisely. By paying off your balances each month, you keep your utilization rate low and your credit score high. This stretched across several cards only makes your score higher over time.

Experts maintain that having two to three credit cards is ideal for most consumers. This allows having a better credit mix. It also allows savvy consumers to reap benefits from multiple rewards cards.

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Final thoughts

You can get instant approval for a credit card anytime. In some cases, applying when customer service is available can keep delays from happening.

Carefully monitor your credit and take the steps to grow it. This will increase your score and raise your approval odds of getting larger lines of credit in the future.

We hope this post answered all of your questions. For additional information, we suggest reading the following posts:

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Is A Credit Card Bill Considered A Utility Bill?

Should You Sign Back of Credit Card