How to Apply for a Credit Card 

Thinking about applying for a credit card? It might seem a little overwhelming at first, but the process is easier than you might think. 
 
The first thing you need to figure out is what type of credit card you’d like to apply for. There are plenty of credit card options out there, and each one offers something different. Some cards are great for earning rewards. Others are built to help you save on interest or start building credit. Finding a card that fits your needs can help you feel more confident and make the most of what your card has to offer. 

When you’re ready to apply, Arkansas Federal Credit Union makes it simple with an easy online application.  

How to Know What Credit Card is Right for You 

Not all credit cards are the same. Some offer rewards or cash back, while others are designed to help you rebuild or improve your credit. Choosing the right card really depends on what you want it to do for you. 

Here are a few common reasons people apply for credit cards: 

• Build or rebuild credit: If you’re just starting out or working to improve your credit, a Credit Builder Credit Card can help you take that first step. 
• Earn Cash Back: Want to get rewarded for your everyday spending? Our Cash Back Credit Card gives you 2% cash back on every purchase.   
• Save on interest: If you know you’ll probably carry a balance each month, instead of paying it off, a Low Rate Credit Card is a good choice. You’ll spend less on interest and have more room in your budget.  

Check Your Credit First  

Before you apply, it’s also a good idea to check your credit score. That way, you’ll know what lenders see and be better prepared to pick a card that works for you. You can get a free copy of your credit report once a year at AnnualCreditReport.com, or check your score anytime with Credit IQ through Arkansas Federal’s Digital Banking platform.  
 
Think about what you want out of a credit card. Are you focused on rebuilding credit? Earning rewards? Paying less interest? Once you know that, choosing the right card becomes much easier.  
 
Arkansas Federal has credit card options for just about every need. Plus, all of our cards come with no annual fee and great features like $0 fraud liability,¹ tap to pay, digital wallet access, and more.  

Applying for a Credit Card

Every credit card application is a little different, but most follow the same general steps.  

1. Submit Your Application 

To get started, just complete a quick application online. You’ll be asked for a few basic details, like your income, employment, and monthly housing costs. This helps card issuers get a clear picture of your finances to see if you’d be a good candidate for a credit card. 

You also have the option to add an authorized user. This could be a spouse, child, or someone you trust. Authorized users get their own card, and their purchases show up on your account. As the main account holder, you’re responsible for making the payments. You can always add someone later, too. 

2. Credit Check 

Once you submit your application, the card issuer will check your credit history. This is known as a “hard pull,” and it may temporarily lower your credit score by a few points. 

That’s why it helps to check your credit score ahead of time. If you know where you stand, you can choose the card that fits best and avoid applying for several at once. Too many applications in a short time can impact your score more than you might expect. 

3. Get a Decision 

Sometimes you’ll hear back right after you apply. Other times, the lender might ask you to send in a few more details first. If that happens, they’ll tell you exactly what they need. 

If you don’t get approved, they’ll mail you a letter that explains why. And if your credit’s not quite there yet, that’s okay. A credit builder credit card could still be a great way to get started and work on building stronger credit. 

The credit limit you receive can vary based on your financial history and the card you choose. For example, the Everyday Low Rate Credit Card often comes with a $5,000 limit. Some cards, like our Cash Back Credit Card, may offer a higher limit if you meet the qualifications, which can give you a little more room in your budget. 

4. Use Your New Card 

Once you’re approved, your card will be on its way and should arrive in about a week. It’ll come with information such as your credit limit, interest rate, and how to activate it. 

After activating it, you’re good to go. You can start using it for things like gas, groceries, or other everyday spending. 

To get the most out of your new card with Arkansas Federal, be sure to:  

• Download the Arkansas Federal app for easy access and account management 
• Enroll in My Cards to set spending alerts, turn your card on or off, manage security settings, and more 
• Sign up for the uChoose Rewards Portal if you have the Cash Back Credit Card so you can track your rewards and redeem them at anytime 

Apply for a Credit Card Today 

Getting a credit card might seem like a big deal, but once you understand the steps and pick one that fits your needs, it’s actually pretty simple. 

At Arkansas Federal, we have a few different cards to choose from. Whether you want to build credit, earn a little cash back, or save money on interest, there’s an option that could work for you. 

Apply for a credit card today or stop by one of our branches to learn more.