By Admin on Aug 9, 2009 in Personal Finance
vikasintl asked:
What do they look for before they approve your credit card application?
Just your credit score?
If you don’t have any credit card or loan or any other sort of credit history are you still eligible to be approved just based on score?
What do they look for before they approve your credit card application?
Just your credit score?
If you don’t have any credit card or loan or any other sort of credit history are you still eligible to be approved just based on score?
How do you get credit score if you don’t have any credit card or any type of loan on your name?
http://1mortgagecalculator.info
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Of course your credit score is an important part of the equation. So is your income and your debt at the time of application. Somebody with a credit score of 800 but no income is going to have a low approval rate, and someone with an annual income of $250,000 and a credit score of 400 isn’t going to get a credit card.
How do you get a credit score in the first place? You’ll probably have to start with a “starter” card with a small limit, or a small personal loan (or car loan), or a department store credit card. Over time, you’ll build up a profile and it will get easier.
Steve | Aug 12, 2009 | Reply
credit card companies want their cards out there, but still want to get paid. you can get a card, just maybe not a great interest rate. if it is your first card, you may have to pay a fee up front to secure it, but that is rare.
start with a low limit card, use it a little each month, say for gas and groceries. pay it off every month and in a year you will have even better credit.
if you need more money, budget better or get a second job.
Ray-Ray | Aug 13, 2009 | Reply
Check it out here. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.
Mohini | Aug 14, 2009 | Reply
Get a credit card from local bank and pay it in time. You also can use this service to avoid common mistakes while buiding credit and pre-estimate future scores for different scenarios of payments – freecreditreport.hotusa.org
Crispy | Aug 16, 2009 | Reply
The credit score is the most important part of the process. You’ll most likely have to get a secured credit card if you want to build up your credit. I would check into these types, and use this type of card for at least 2-3 years.
Matt | Aug 19, 2009 | Reply