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Topic starter
22/02/2017 8:53 am
Hey there people, you might think I have a very stupid question, and maybe it is, but that’s me, very old-fashioned and stuff, so until now, believe it or not, I never had a credit card. However, as people say, it’s better to go with the flow, so I’m seriously considering getting one now!
So my question is: how to get approved for a credit card? Are there specific requirements, eligibility criteria etc.? I’d be very happy if you can help me with this. Looking forward for your answers!
23/02/2017 10:08 am
Hi Mike, this depends on what credit card you want to apply to. Each option has different requirements.
But there are also common, general prerequisites such as being over 18, having a valid mailing and email address, a valid phone number, being employed and open to tell them your salary etc., having a valid social security number.
But besides these basics, there might be specific requirements for different cards, you should check carefully with the bank of your choice
24/02/2017 8:55 am
Well, things get a bit more complicated if you need a loan. For banks to give you loans, they will need to know your credit history in order to be able to determine what are the chances you will pay back the loan.
So, here other factors come to play, such as your credit score, creditworthiness, history of previous successful (or unsuccessful) repayment of loans, your current financial situation etc.
Topic starter
27/02/2017 6:49 am
Yes but I never had a credit card before and I also didn’t take a loan. So, in this case, I’ll just have to meet the basic conditions of eligibility Sally talks about?
27/02/2017 6:53 am
Basically yes, but in case you want to take a loan they will ask you details about how much you currently earn and stuff like this. Of course you cannot get a loan if for example you are unemployed at the moment…
But yea, in your case there’s no credit history it seems, so also no credit score, creditworthiness and so on. So it seems it’s a simpler situation than usually