Credit card applications can be completed in minutes, but in order to make the process go fast, you'll need to meet certain requirements and provide specific information.
While each card issuer uses their own criteria and formula for determining whether you're approved or denied for a card, the general requirements are similar. Some are even mandated by law, such as the CARD Act of 2009's rulings on age and income requirements for applicants under 21.
Here are the eligibility and application requirements for opening a credit card. Even if you meet or exceed these qualifications, there is no guarantee that the card issuer will approve your application. However, the best time to apply for a card is once you fulfill the requirements below.
Before you can open a credit card, you'll need to meet certain requirements. If you apply at a branch or over the phone, the lender will ask you some basic questions to determine your eligibility. Online applicants, on the other hand, enter eligibility information during the application process. Your application could be rejected if you don't meet these requirements:
Once you meet the eligibility requirements, you can apply for a card. Here is the common information you typically need to enter on a credit card application:
Additional optional information
While the majority of this information is required to complete a credit card application, issuers only base their decision on your creditworthiness, not your personal information. The Equal Credit Opportunity Act prohibits financial institutions from considering an applicant's race, religion, national origin, sex, marital status and other personal details during the application process. Lenders will consider other non-personal, financial details, like your credit history, income and monthly housing costs, when determining your creditworthiness.
Information about the U.S. Bank Visa® Platinum Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.