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Owning a Credit Card - General Requirements
Earlier, to get qualified for a card you had to have an established job, a steady income and a good credit rating. But today the eligibility criterion has been relaxed a lot; even the teenagers can own a credit card. A good credit rating is still taken in consideration for qualifying for a credit card. Each financial institution has its own admissibility requirements; but in general all companies have the same basic requirements or criteria. Creditors always take calculated risk. They tend to see if you have a steady income, if you can meet your monthly payments, if you have assets to cover your expenses along with a good credit history. They also tend to see if you have some existing debt load and for how long. Credit-cards-info.com Reports:
Although creditors will look at your past financial history, applying to own a credit card is a lot easier than applying for other loans such as a mortgage where the eligibility criteria is much more severe and stringent. With some careful planning and good money-management habits you should not have any trouble applying for and owning credit cards.
Read More: General requirement of owning a credit card
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