You have been eyeing that huge flat screen television so you can enjoy a cinematic experience as you watch your favorite films, but when you look at your wallet, you do not have the money to afford it. It is in such instances that you think about applying for a credit card so you that you can purchase everyday items like gas or one-time expenses like televisions, even when you do not have the cash at your disposal. Besides, credit cards will extend you the benefit of earning rewards and building your credit. However, getting a credit card is not as easy as we would like it to be but with CardMatch, the process has become a little bit faster. If you have no idea what a CardMatch Tool is, here is all the information you need.
What is the CardMatch Tool?
Upgraded Points describes the CardMatch tool as a simple web-based form, developed by CreditCards.com; it displays your best credit card offers within seconds. CreditCards.com is also explained by Money’s my Life that it is a large credit card comparison site owned by Bankrate and with subdomains in Canada, the United Kingdom and Australia. As for its legitimacy, Bankrate is a huge network regarded a trusted source for financial information and rates and major news networks such as CNN, Fox Business News, and many others refer to it for their data.
How does CardMatch Tool Work?
Using the CardMatch is simple; all you have to is head on the CardMatch Tool page and put in your names, your current address, zip code, city, state, the last four digits of your SSN (Social Security Number), and email address. If you prefer to get a free credit score and report, you can check in the box that asks if you want to create a free CreditCards.com account.
Choosing to get the free credit score and report will have CreditCards.com sending you an email asking you to complete the registration process. You will be taken to the terms and conditions which you must accept for you to move on, after which a screen will appear informing that you will receive all the offers in less than 60 seconds. Once you get the list, you should note that the offers are not guaranteed and are suggestions of potential offers for which you can apply. You have to view “All Matches” so that the tool will match you to all the offers you can get.
Does using The CardMatch Tool affect your Credit Score?
According to CreditCards.com, using the CardMatch Tool does not affect your credit score because it uses a soft credit card check. In case you did not know, there are two types of credit checks: soft and hard. Soft credit check, also known as soft inquiry or soft pull, is one that does not affect the credit score. Investopedia explains that it occurs when you check your credit report, give a potential employer the authority to check your credit report, financial organizations you are in business with check your credit report and credit card firms that want to send you pre-approved offers, look into your credit.
Hard pulls, on the other hand, can adversely affect your credit score, and they remain in your credit report for a couple of years. They occur when you apply for credit by applying for a mortgage, credit card, loans, or other financial obligations that will have you make credit decisions, as a borrower. The negative effect results from the fact that credit bureaus automatically assume that if you need additional credit, the risk of you not repaying your existing debts is high therefore unless you desperately need the credit, you should not apply for it.
How do you get the best offers with the CardMatch Tool?
As with any other product you buy, you are looking to get the best value for your money therefore even when you apply for a credit card; you are hoping that you will find one card that will have your best interest at heart. The question is with so many options available, can you rely on CardMatch Tool to match you with the card offering the best offers?
Amex Platinum 100K offer
Well, according to UponArriving, there are three ways you can get the Amex Platinum 100K offer and using CardMatch link comes up first on the list. Amex Platinum gives you a welcome bonus, and the standard is that if you spend $5,000 in the first three months of opening your account, you will receive 60,000 membership reward points. The best thing about the card is that if you want the 100K points, you will not spend a penny extra, because the spending requirement is the same; $5,000 within the first three months of account opening.
Other benefits that will make you wish you had the card are the $200 airline credit and $200 Uber credit, 5X on airfare and 5X on hotels you book through the Amex Travel portal; such benefits come in handy for a frequent traveler. You will also find the priority pass access, and centurion lounges access for you and two of your guests quite luxurious, not forgetting the SPG Gold preferred status and rental car status too.
Unfortunately, as View from the Wing discloses, some users have difficulty finding the offer; hence, not many people take advantage of it. The reason for the confusion is because you do not see the offer immediately you visit the site; instead, the first thing that will be displayed are the “pre-qualified offers.” Therefore to check if you can get the offer, you will have to click the tab on the left side of the screen that reads “CardMatch Special Offers,” then it will appear.
While the 100,000 points are as good as it gets, in some rare instances, you can get 150,000 points, but only if you spend $10,000. However before you rush to apply for the card, you should note that the Amex Platinum card comes with an annual fee of $550 which will only be waived for the first year, as Doctor of Credit enlightens us.
What happens when you do not get any offers?
Sometimes luck is not on your side, and despite numerous attempts, you still do not get any offers. Good news is you should not give up on using CardMatch tool because it is free and does not affect your credit score regardless of how many times you use it; therefore you can keep checking in and maybe one day you will get that offer for which you crave. Alternatively, if you are bent on getting this offer, even if the search does not link you up with the card using CardMatch tool, you can try your luck using other methods such as opting in for targeted offers and using leaked application links.
Million Mile Secrets also advises that you can visit your local bank branch and check to see if there are offers. According to the Points Guy, some banks like Chase Bank offer specific sign-up bonuses to those customers that apply in their physical bank locations. Before you disregard these alternatives, the truth is that some are better than what you can find on the CardMatch tool. For instance, there was an in-branch offer of 100,000 points for the Ink Business Preferred that was 20,000 points more than the public offer and worth $250 more in travel.
How do you attract targeted credit card offers?
While using the CardMatch tool is an easy way to get you the perfect credit card, sometimes you have no option but look elsewhere. After all, if you are not getting a match yet you need a credit card with the best offer, you must be proactive, and CreditCards.com details out the following few tips to get you those offers;
Stay in touch with your bank
Staying in touch with your bank does not necessarily mean calling every day to check for an offer that might interest you. You can do it from the comfort of your home by logging into your account and checking for pre-approved offers, or visiting the bank’s website. You may wonder why they ask for your email or mail address when you are signing up for a credit score check, but it is through these personal details that the bank will keep you in the loop of whatever they are offering. If somehow even your email address does not receive an offer, then it is time to call or visit the nearest local branch, and you might be lucky to get an offer that was not publicly advertised.
Keep updating your income status
Money talks and it is also the language of business; therefore, whenever you see that pop-up that asks you to update your income status, it is in your interest to do so. It is just like checking your ability to pay and the more money you have, the more likely that you will honor your debts. Therefore if a bank views that your income status has improved, you become a candidate for their targeted offers as they hope you will spend more money, which in turn is good business for them. Moreover, it is not just the banks that will use the information; other companies looking for customers for their targeted offers may find you a worthy candidate.
The regular Google search may not give you the best results when looking for offers; therefore, you can switch to the incognito mode, and your chances of landing an offer will increase. Also, if you prefer, you can invest in a VPN to not only secure your data but also access those regions restricted due to your location. For instance, if an offer is only for those consumers in a particular area and you happen to be in a different location, you can set your VPN to show that you are in the preferred region and take advantage of the target offers.
Is applying for a credit card using CardMatch Tool worth it?
While the 100,000 points sound lucrative to pass by, before you apply for that credit card, Johnny Jet advises that you consider several factors including:
Annual fee – Although most credit cards will lure you in by waiving yearly fees for the first year, the charges can be quite high. It is therefore essential to do a cost-benefit analysis and ask yourself if the benefits you will be getting will outweigh the charges you will be making every year.
Spending habits – Spending $5,000 in three months may sound like an excellent offer to warrant 100,000 points, but are you certain that your spending habits will permit that kind of expenditure? If not, then the effort you will have used to get that credit card will have gone to waste. To better increase your chances of landing those offers, you can align that application with the time when major bills are falling due; that way you can be sure that you will reach the $5,000 minimum spending limit.
Utilizing the rewards – It makes no sense to spend $5,000 to earn travel rewards that you will never use. Travel rewards do not usually expire, but that is as long as the card is active. However, it is best to make use of travel rewards since, with time, they will lose their value. Other rewards expire after three to five years.
Future financial needs – If you are planning on taking a mortgage or loan, then you might want to reconsider applying for that credit card. Taking up a credit card already means you have some financial obligation and financial lending institutions will put stringent measures such as unfavorable interest rates when lending you that money.