What to Know When Applying for a New Credit Card

Selecting the right credit card can be complicated. With a variety of options, you may not know where to start. The personal bankers at Citizens Bank are here to help you navigate the process of choosing and applying for a new credit card.

Why Do I Need a Credit Card?

Just over 80% of Americans have a credit card. This tool can help you to conveniently make purchases and build your credit score. However, those are just two benefits that credit cards offer to consumers. Below, we explore others that may be of interest to you, depending on your financial goals. 

Rewards

Along with providing discounts at certain retailers, some credit cards offer you the opportunity to earn points or cash back that can be used for purchases, flights, or other rewards. This benefit is especially helpful to those who travel regularly. 

Fraud Protection

You know that credit cards are safer to carry than cash, but did you know that they can also protect you from fraud? In the event of suspected fraud, you can report it to the credit card company, and they can help investigate and resolve the issue. 

Depending on your card’s fraud protection features, your credit card company may also monitor it for unusual activity and notify you if anything suspicious occurs. It is one of many features credit card companies implement to protect users.

Credit Building

Using a credit card can build your credit score, which can help you qualify for mortgages and other loans. However, you need to be sure that you can make timely payments to take advantage of this benefit. You can also receive a free credit score report from your credit card company to monitor your score without submitting a report to major credit bureaus. This keeps your credit score higher as inquiries can decrease it. 

Purchase Protection & Insurance

Credit cards also offer insurance coverage, often called purchase protection, for purchases made with your card. This may allow you to get repairs, replacements, or reimbursements in the event that your purchases have been damaged, lost, or stolen. In turn, this saves you money on repairing or replacing the item. 

What Type of Credit Card Do I Need?

The type of card you need depends on your spending habits, lifestyle, and personal needs. If you own a business, there are cards tailored to your specific needs. Citizens Bank, in partnership with Visa, offers the following types of credit cards to our members in Tennessee. 

Personal Credit Cards

Our personal credit cards can be used to earn unlimited rewards on every purchase, every day. We can tailor your card to fit your needs and budget. Your limit will be determined by your income and other factors that you share with us during the application process. Once approved, you can start using your new card. 

Business Credit Cards

As a community bank, Citizens supports local businesses. One way we do this is by offering business credit cards. These cards help you to track business-related spending, which can be helpful in monitoring your cash flow and tax preparation. You can also have credit cards for your employees for maximum convenience. 

Apply for a New Credit Card

While the credit card application process can be daunting, the personal bankers at Citizens Bank are here to walk you through it. We will help you find the right card for your needs and complete the application. To get started, contact us online, call us at (615) 327-9787, or visit one of our branches in Nashville or Memphis.

Apply for a New Credit Card in Tennessee at Citizens Bank

Enjoy the many benefits that a credit card can offer with Citizens Bank. We can help you find the right card to fit your needs, budget, and lifestyle. To apply for your new credit card, contact us online, call us at (615) 327-9787, or visit one of our branches in Nashville or Memphis today.