Credit card-What Do You Need to Get a Credit Card

What do you need to get a credit card

 

Perhaps the question is – How to get a credit card?

If you had never had a credit card you might not have any credit history either. You can still apply for one and might get a visa or master card. Credit card companies are looking for credit history when someone applies for a card with them. (Read further down to find the solution)

To get a credit card, typically you need an Income source and that means you have to have a job or some other source of income  the credit card company can verify.

You also need to have credit history. If you have none, you can still apply, but might not get approved. You can also get one of those prepaid credit cards. They are alright, but the interest rate is higher and you have to put your own money in and pay interest on it whenever you are using it, just like on a regular credit card . Usually, people with bad credit or no credit history  use these kinds of cards.
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If you have no credit history, you can just apply for a card and be rejected. With that you start building credit history.

How? When you apply for a credit card, a background search is made on you by the card company and that will leave a footprint in the central database all these credit card companies and banks are using.

When a few months has passed and you apply the second time at any of the card companies, they’ll make another background search on you and see there was one before and they’ll reject you again. With this rejection you already have two credit histories from two different outfits.

In a few months you apply again with another card company and when they make the background search on you, they’ll see you already had two of them and might consider you, might not. The forth time you might get a card from one of the higher risk taking card companies.

So it took you about a year to get a credit card with no credit history and low income or no income.

Many people lie about their income, because card companies usually have no way of checking it other than a phone number you supply to the company you are working for and some sort of pay stub and the name of your bank. Card loans are promissory notes. IOU s if you will.

You admit you owe them and promise to pay the loan back at the rate they provide. No collateral is taken or owed other than your promise to pay it back.

These companies are in business for nothing else but the interest they make on these loans. The typical interest rate is close to 20%.

If you think about a supermarket usually figuring with a 1-2% profit margin and always have to offer better prices and new sale items to make sure the customer comes back and keeps buying from them. A credit card company have it’s customers at 20% interest rate for ever.
Looking for a credit card that matches your needs? Use our free and easy service to find your credit card match!Let us find your credit card match. Finding a credit card has never been easier than with our free and easy service!Finding a credit card doesn’t have to be stressful. Use our free and easy search service to find the credit card that’s right for you!

Start searching for your new credit card right now. Whether you have no credit or bad credit. everyone can be helped.

So, now you know, what do you need to get a credit card

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