You took the time to fully research several credit card offers to find the right card for you. Now it’s time to apply. If this is your first credit card, you might be wondering what kind of information the credit card application will ask for. And it’s good information to know up front so you can have all of the necessary documents and details on-hand to save time.

Today let’s talk about credit card applications, making sure you’re eligible for the offer you chose, and what information you’ll need to provide for that credit card application.

Eligibility Requirements

Before you worry about what records to have available for the application, it’s important to review the credit card’s eligibility requirements. After all, the information you’ll be asked to provide in a credit card application is all about making sure you actually meet those requirements. One of the most important eligibility requirements to take note of is the minimum annual income required. If you don’t earn enough, you simply won’t be approved. As an example, the minimum required annual income for an Aussie MasterCard is $15,000. Some are much higher.

Information and Documents You Will Have to Provide

Now that you know you meet the general requirements, here’s a list of some of the information you will need to have available so you can include it in your credit card application:

•    Your full contact details
•    Your time at your current address
•    Your driver’s licence number (if you have a driver’s licence)
•    Your annual salary (including extra income, such as rental income)
•    Your employer’s contact details (if you work as an employee)
•    Your length of employment with your current employer
•    Your accountant’s name, company name, and contact details (if self-employed)
•    Your existing credit account information (with other creditors, showing current debt)

In addition, if you plan to initiate a balance transfer from a current credit card to your new card you’ll need to have information from your current card such as the balance details. In this case your whole balance might be approved for transfer or only a part of it might be approved. If your current card is from the same issuing bank, chances are good that they won’t allow the balance transfer at all.

Filling out a credit card application doesn’t have to be complicated. Just go into the process prepared, with all of your financial and contact details readily available. That way you’ll save time rather than having to save your application and come back to it later when you find the information you need.