Credit Card FAQs

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Frequently Asked Questions about Credit Cards:

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Leo Zhu,

CreditLand Consultant on Credit Card Questions:

We put all FAQs into categories for your convenience. You can browse among categories for useful information or address you own question to our experts directly. Our qualified credit experts are always ready to help you.

Most Asked Questions:

More Building Credit History FAQs
Hi I’m searching for a major credit card for car rental use and for gas but my score is very low. Could you give good advice?

You can apply for a secured credit card. You will need to put down a security deposit to get this card. A minimum security deposit is around $200 and it gets you the equal line of credit. Continue reading

Can I get a credit card if I have no income and bad credit?

If you have bad credit and no income, it will be difficult for you to be approved for most credit cards. But there are some cards that you can apply for. Try a credit account like Fingerhut, which offers guaranteed approval and no credit check – or get a prepaid card instead of a credit card. Continue reading

More Bad Credit FAQs
What is the difference between business and personal credit rating?

Business credit rating is a rating of a particular corporation or a small business company. The business credit score can be and should be separate from your personal credit score. When these two scores are separate, your personal and business financial risks are separate as well. Continue reading

How to get rewards with business credit cards?

Many issuers of business credit cards offer cards with rewards programs. So look around to find such offer. A reward program will allow you to earn rewards on different business expenses. Continue reading

More Credit Cards for Business FAQs
If I apply for a card and get denied, will this go against my credit rating?

A single credit card application won’t hurt your credit score much. But if you apply for multiple cards within a short period of time, that may ruin your score significantly. Your credit score may be affected because every time you apply for a credit card or a loan, the lender reviews your credit report. This is known as a hard inquiry. They may stay in your credit report for up to two years. The more inquiries you have on your credit report, the more risky you are considered. Also, people with ... Continue reading

I recently applied for a credit card but was rejected. Please advise.

If you were rejected, the issuer will tell you why when they deny the application. Consider the reason and try to solve the problem. Before applying for another credit card it is good to wait a couple of months. Then check your credit score. After that you can apply for a credit card that fits your credit history. Continue reading

More General FAQs
Is a balance transfer good or bad for a credit score, or could it damage my credit?

Transferring your balance from a card with a high APR card to one with a lower interest rate or even 0% APR, is usually a smart move and will not hurt your credit score. In fact, having another line of credit open will add to your total available credit and may improve your credit score. However, applying for new credit can have a short-term negative effect on credit, so try not to open too many new accounts within the same time frame. Continue reading

Can a credit card issuer refuse to transfer my balance?

Balance transfers must be between different financial institutions, and you must have enough available credit to make the transfer. As long as the amount you are requesting to transfer is under your credit limit and the balance is being transferred to a different bank, the transfer should be approved. Continue reading

More Balance Transfer FAQs
What are the different kinds of credit card rewards programs?

There are many different credit card rewards programs geared toward different consumers, but most fall into three main categories: cash, travel and points. Cash back credit cards give cardholders a percentage of cash back on each purchase. Travel credit cards call their rewards miles, even though they are often redeemable for things other than airline tickets. Points credit cards let you earn points with every purchase. You can then trade those points for cash, gift cards, merchandise or travel. Continue reading

How do I know which type of rewards are right for me?

Think about how you will use your credit card. If you plan to pay attention to rotating categories and tailor your shopping habits to take advantage of extra cash back, a cash back card with rotating rewards could be right for you. If you travel frequently, flying and staying in hotels, look at travel cards. If you want to collect points for all your purchases and have a lot of flexibility in how to spend them, then the Citi ThankYou Network might work for you. Continue reading

More Credit Card Rewards FAQs
What card can I apply for with good credit?

When your credit is good, you have a wide range of cards to choose from with a variety of rewards. It’s up to you to decide if you want cash back, travel miles, a 0% introductory APR on balance transfers or purchases, or a no-frills card with a low APR and no late fees. Read our credit card reviews and decide which card is best for you. Continue reading

What card can I apply for with excellent credit?

If your credit is truly excellent – in the high 700s or above – then you have many choices including cards offering VIP perks and concierge service, big sign-on bonuses, and high-value rewards. It’s simply a matter of which card you prefer, so think about what card best fits your needs. Continue reading

More Good Credit FAQs

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Our Writers:

Leo Zhu
Leo Zhu
Leo Zhu is the managing editor of Credit-Land.com. He has been researching credit cards for the company since 2007. He knows how to choose the best credit card and get the most value from every dollar charged. He shares his experience by answering your questions online.

Balance Transfer: Save on Average $1,400

May 08, 2015