Applying for new credit either after a California bankruptcy discharge or simply looking for new lines of credit, there are some things to consider.  Obtaining new credit should be a carefully pursued process and not done on a whim if you want to ensure a solid financial future of payments with these lines of credit. These common mistakes can not only spoil your chances of getting a new credit card, but could make it difficult to manage your current debts.

Applying At The Wrong Time

Before considering new credit take a look at your current credit report. Check to make sure your score is in a good position for applying for new credit. If there are inaccuracies on your report take the time to dispute them and have them removed before applying for new credit. If your credit isn't as good as you thought, put the application process on hold until you work your score up through paying down balances and making timely payments.

Applying For The Wrong Cards

You've probably received many pre-authorized credit line offers in the mail as they pass them out like candy it seems. However, those offers tend to come with some unfavorable lending terms like hidden high interest rates after an introductory period, annual fees, or variable rates that fluctuate with the nation's prime. It is important to do your own research to find the card with the lowest interest rate, few to no fees and bonus features such as cash back.

Applying For Too Many Cards

When you apply for a credit card the lender will check your credit report to ensure your score is favorable and you aren't a lending risk. Each time a lender checks your credit report, your score takes a small drop. If you apply for too many cards at once you will have several lenders checking your score at the same time, each chipping away at your score. Try a planned approach where you apply for one and receive an offer or rejection before moving onto another application. This will protect your score as much as  possible for future credit checks.