“How do I get more credit cards?” is the main question tugging at the collector’s mind. In good news, techniques to get more cards can be easily learned and applied.
Applying for credit cards
Applying for credit cards keeps your collection growing. These initial cards form a base on which to expand. It all begins by improving on the credit you have.
Establishing credit is pretty simple. Credit is essential for the accumulation of credit cards. There isn’t much use applying for credit cards if you don’t have credit. Please don’t go around wasting time randomly filling out credit applications. It’s best to understand the system and work a plan. That way you don’t leave establishing credit to luck or chance.
Your bank is an excellent place to start credit. Getting bank credit is important and fairly easy. Companies tend to be eager to issue cards to people with good bank credit.
Savings accounts and cars are other popular forms of collateral. Some banks will issue a credit card using your savings account as collateral. Your savings account, up to your assigned credit limit, will be inaccessible. You’ll be rewarded though by receiving your first bank credit card.
A department or clothing store can be an individual’s first credit card. The store can reduce the credit limit to where it’s very low. This allows them to take a risk on practically anyone. Remember, companies are typically eager to issue credit. It’s to their advantage to issue credit and get a new customer.
Even good credit can be improved. Have a savings account in the same place as your checking account. Pay all your credit lines to zero. Too much debt will make you a credit risk. Get a copy of your credit file and make sure all your accounts are listed. If all accounts aren’t listed, contact the businesses and ask them to report. You can also ask the credit bureau to get a report from the businesses. If you’ve moved, contact the local credit bureau. They’ll transfer your files to the new location.
Sometimes credit can be too good. Too many inquiries or applications is a common reason used to reject further credit applications. It means you’re increasing your credit lines too rapidly. Every time a company checks on your credit the credit bureau records the inquiry. An inquiry stays on the file for twelve months.
Too many inquiries scare companies. They’re afraid of what you might do with all the new credit. When this happens, stop applying for bank and high credit limit cards. Switch to applying for gas or department store cards whose credit limits are low. Remember, companies don’t know you’re a credit card collector. They don’t understand the credit is unimportant and all you want is the plastic.
Pre-approved is when companies want to issue credit without you applying. A company will inform you that you’re pre-approved by phone or mail.
When you’re pre-approved by phone the caller will identify the company they work for. They’ll tell you your credit is already approved. Then they’ll ask if you want the credit card. When you accept they’ll ask a few general questions to update their files.
Pre-approved credit applications received by mail require limited information. They generally ask half a dozen questions. You can be rejected on a pre-approved application if all the questions aren’t answered. The credit is approved but the company must have current information for their files.
A popular trick is to send out forms that appear to be pre-approved. Every indication is given that your credit is approved but it won’t actually say so. This trick is exposed when there’s a full credit application to fill out. If you would like the card feel free to fill out the credit application. Just understand that your credit isn’t pre-approved and you can be rejected.
Instant credit, whenever it’s offered, is the fastest to acquire. Simply show a salesperson a valid major credit card and your driver’s license. Only a few simple questions are asked. Then you’re given immediate credit.
Improve bad credit
Bad credit can be improved. If you have unpaid accounts, start paying them. This action doesn’t necessarily change your credit standing. It does show that after your financial difficulties passed that you did fulfill your obligations. When financial problems do creep up, immediately contact your creditors and explain your situation. Most of them will work with you.
A problem leading to bad credit is how to handle temporary money shortages. What can you do when there isn’t enough money for all your payments? Simply pay everyone something, on time. Don’t skip any payments. Inform your creditors that there are temporary problems. Show them you’re still reliable by making regularly scheduled payments. Most creditors will gladly work with you. This plan is often looked upon favorably.
Get additional cards
After an account is open, start acquiring all the credit cards you can. Get a credit card for every member of your family. If you’re single, ask for more cards than needed.
Additional credit cards can also be traded to acquire ones you don’t have. Be sure to close the account before trading.
Additional cards can be used to form more collections. Form a collection for each member of the family.
Most companies have never heard of credit card collecting. This makes getting additional cards easy. Take advantage of this situation while it exists.
Companies that issue single-purpose credit cards are generally lenient when you request additional ones. Just call or write stating the number of additional cards wanted. You can form a large collection of single-purpose cards by working this plan.
Travel and entertainment cards
T&E companies typically willingly issue additional credit cards because of the membership fees involved. For example, American Express charges for each additional Gold Card or Green Card, and Diners Club does the same.
Additional bank cards are usually free. Banks have different policies about issuing additional cards. Write a letter to the bank explaining that you want to add people to your account. Ask for an additional card for each person. Include each person’s name along with your account number and signature.
Replacement credit cards are issued to substitute for currently valid ones. The usual reasons for replacing a card is that it’s damaged, lost or stolen. Our purpose for replacing a card is to get another one for the collection.
Replacement cards are normally free. Simply ask for a replacement card. Don’t report credit cards lost or stolen to get replacements. It’s best not to have a collection composed of lost or stolen cards. Besides, it isn’t necessary. Most companies issue replacement cards quite readily.
American Express cards
American Express replacement cards are a special situation. Move cautiously if you carry your card and want an unused specimen for your collection. American Express will change your account number when they issue the replacement card. Every time you get a replacement it makes your previous card invalid. This means if you carry your card you’ll only have used specimens to collect.
There’s a way to handle this though. When you open an account, or at expiration time, you’ll receive a new card. Don’t use the new card when it arrives. Immediately write for a replacement. American Express is fast. They should have a replacement for you within a week. This then gives you two unused cards. One valid and the other invalid. You can collect an unused specimen and still have a valid card to carry.
Most bank replacement credit cards are easily acquired.
Getting replacement credit cards from banks that don’t charge an annual fee is sometimes difficult. They’ll instruct you to cut your credit card in half and return it. The bank will then issue a replacement card.
There are many other ways to get replacement cards. Replace cards with no expiration dates once a year. When cards have long expiration dates, replace them in the middle of the cycle. When a new designed card is issued, replace all the old style. Replace credit cards on a regular basis. Do this so your collection can reach its maximum size.
Applying for credit cards is merely the starting point for forming a collection. The majority of your collection will come from receiving additional and replacement cards. Add and replace cards often. Your efforts will be rewarded with a meaningful credit card collection.