When you apply for a credit card, the two main sources of information that lenders use when deciding whether to grant you credit are the personal details you supply on your application form and the information held on you by the credit reference agencies.

It's particularly important to be aware that when you apply for a credit card it can take longer than you think to process. So watch out if you are trying to time a balance transfer from one card to another where an introductory period for an interest-free credit card is about to expire.

It, therefore, follows that the information supplied by you and the agencies needs to be accurate. Don't be tempted to lie on your application form about other cards or loans that you have as they'll just show up on your credit report and you'll be found out! Exaggerating your income levels is also unwise - your aim is to use the credit card sensibly and not to land yourself with debt problems that you eventually can't cope with.

Credit card companies usually aim to sort things out in ten to 14 days but remember that forms need to be signed, the card will arrive separately in the post from your Personal Identification Number (PIN) and then you'll need to activate the new card.