FAQs

  • General Credit Card Information

  • What is the annual percentage rate or APR?

    The annual percentage rate, otherwise known as APR is the yearly rate that is charged by the credit card issuer or lender. The benefit of having a credit card is that consumers can avoid paying interest by paying their balance in full each month. Any credit card issuer or financial institution is required by law to disclose their APR rate, highlighting whether it is a fixed or variable rate. A fixed rate APR will remain the same, whereas a variable APR the rate can change as a result of economic indicators.

  • What information will I need to supply to the credit card issuer?

    Individual lenders may require more, but typically you will need to provide:
    1 Name
    2 Address
    3 Social Security number
    4 Date of birth
    5 Annual income
    6 Miscellaneous financial information

  • How do I select the credit card that is right for me?

    If you utilize our service, you will be able to view and compare several credit cards. Once you have done this, you can choose the one that is the best fit for your financial needs, and lifestyle. When you have selected the credit card, you will be able to complete the application and wait for a decision from the lender. It is a fast and painless process.

  • Is it safe to apply for a credit card online?

    Nowadays everything is online, and applying for a credit card can be safe and secure. The reason for this is each credit card application is embedded with SSL technology. Each credit card issuer or lender will have their security measures that will ensure that your information remains confidential. The best part about applying online is that you can have a faster response.

  • When will I receive my response from the lender?

    Once you have submitted your application, some credit card providers will guarantee a response as quick as 60 seconds! However, most issuers will provide you with their decision within one-two weeks depending on their processing times. If you have applied online, you should receive your decision online, but sometimes you may receive the decision via mail.

  • What is a grace period?

    A grace period, also known as a free period, provides the opportunity to avoid finance charges by paying off your balance before the due date. You will need to know if your selected credit card has a grace period, so you will know exactly when you need to pay your bill.

  • What is an annual fee?

    An annual fee is exactly what it sounds like: this is a fee you pay for nothing more than the ability to use the credit card. Generally speaking, annual fees range from $25 on the low end to $500 on the high end. Not all credit cards have a yearly fee, so take this into account when you are making your comparison.

  • I have missed a payment, what will happen?

    We cannot stress the importance of repaying your credit card bill on times. However, we all will experience those points in time when life can get in the way. If this does happen, and you make a late payment, your lender may charge you an additional payment fee. Please check your T&Cs as a late payment can sometimes result in your APR increasing.

  • How can I check if I qualify for a credit card?

    Each lender, and credit card provider has their eligibility requirements. However, you will find that some details are standard across the board. You must be a United States citizen or permanent resident alien, and a minimum of 18 years old with a steady income. Most credit card providers will check if your credit history to ensure that you can make the repayments on time.

  • Will applying for a credit card impact my credit report?

    Yes, any time that you apply for any form of finance, including a credit card application, it will remain on your credit report for one year. Please be aware that if there are more than ten inquiries or application on your report over a six month period, it will raise some red flags and imply that you are a risk as a customer.

  • What is the difference between bad, good, and excellent credit?

    While it can vary from one lender to the next, the basic guidelines are: bad credit is 600 and below, fair credit is 600 to 650, good credit is 650 to 725, and excellent credit is 725 and above.

  • Will canceling a credit card affect my credit score?

    Yes. When you cancel a credit card, it can harm your score as your debt-to-credit ratio will be impacted. If you rate appears to be riskier to lenders, it may affect the risk of your future borrowing or applying for a loan.

  • How much should you pay every month/year for access to a credit card?

    With a good or above credit score, you will not have any problems sourcing a credit card with no monthly or annual fee. However, if you have poor credit or are interested in a higher or top tier card, you may be required to pay a yearly fee.

  • What if my application is declined?

    It is never a nice feeling to find that you have been declined by a lender. However, there is a silver lining. You have the option to ask the issuer why you were declined; this will give you a more precise understanding as to why you failed the eligibility. You can then use this information to source a credit card that is better suited to your financial situation.

  • What is a secured credit card?

    A secured credit card is one that requires a cash deposit to guarantee future payments. If you default on payments, the issuer will keep your deposit. Secured credit cards are most common among people with no credit or those with a low credit score.

  • What is a cash advance?

    Some credit card providers will also supply a cash advance; this is where you can receive cash from your credit card issuer. Please note that most credit card companies do charge a cash advance fee. The fee is calculated per transaction or by a percentage of the amount borrowed.

  • Is thecreditwiki.com a lender or loan provider?

    No, we are neither we merely provide high-quality information for various types of financial products that are available to consumers.

  • Can I apply for a credit card from thecreditwiki.com?

    No, we do not issue credit cards. We provide valuable comparison information regarding the best offers, rates to help you find the right card for your financial needs.

  • Do I need to speak to someone about my credit card, who can I call?

    Please be aware that thecreditwiki.com does not provide customer service regarding the offers listed on their site. However, if you have any questions regarding your credit card you should go directly to your issue. If you visit our customer support page, you will find an extensive list of the credit card issuers.

  • Will I have to pay a fee when I take out a loan?

    Please be aware that at thecreditwiki.com, we don't the fees, rates, or terms and conditions associated with any financial product you find on the site. Once you have selected an offer, you are taken directly to the lender's website, at which point you can learn more about the requirements and terms and conditions. You are not obligated to accept any offer on our website, and you have the right to leave at any time.

  • How can I opt out of credit card solicitations?

    Are you tired of receiving credit card offers via mail, you can opt out quickly by calling 1-888-567-8688 to opt now, or you can opt out online by visiting www.optoutprescreen.com.

Credit Terms

TheCreditWiki, can make searching for the best card far easier, especially when you need to consider several factors. You may not be aware, but there are a few cards that have APR rates that you will need to review before signing the contract with the bank or lender. You will also need to consider financing costs, and anticipate what you are going to need the card for, is it going to be a single one-off purchase, or do you want to carry a monthly balance? Understanding the potential financial implications is crucial, for example, if you don't make your required monthly or bulk payment by the agreed date, then your financing costs will increase. If this happens, you will incur several costs – such as paying the full current balance, and fees to the credit card issuer/bank. Another important factor is interest fees. Please be aware that they can fluctuate; they can shift from as low as 0% to as high as 35%. So, before signing the contract, review the credit card applications for any specifics regarding the interest rates, as they will be stated in the terms and conditions. TheCreditWiki strive to provide our customers with the most current, and up-to-date information, regarding rates, benefits and many more. Please do remember that the credit card offers that we have listed, are displayed without guarantee. If you want to affirm the terms and conditions, click on "Apply Now." You will be able to learn more about the full credit card offer, on a secured page that will be supplied by the card issuer(s). You will see the list of the best credit cards options currently available on the market listed below. We have provided you with all the relevant information about each provider to ensure that you will make an informed and confident decision.

Advertiser Disclosure

When searching for the best credit card TheCreditWiki can help you to make the best decision based on your lifestyle and financial history. TheCreditWiki is a free service and promotes bolstered credit examination, through a comparison entity. The offers that you will see on thecreditwiki.com are from organizations, which thecreditwiki.com will receive remuneration.

About our Ratings

Our reimbursement sometimes impacts the surveys, but it is only the order that the classifications appear in, and nothing else. They will appear on our featured pages, but you can still opt to use the best option for you, and we strive to provide this regardless of the compensation that we may receive.
Please be aware, that this may affect the order in which these credit offers appear. Also, thecreditwiki.com does consider the restrictive guidelines of each lender, and the probability of the consumers' credit history. They will take this information into account, and will decide how, and when the credit cards offer will appear on the site.