When making payments around the world, the credit card is a popular mode of payment, since it provides us with many facilities such as being able to virtually make payments in any business without needing to carry cash.
However, not all people can own such cards, for this we will have to meet criteria that can sometimes depend on the bank or the type of credit card that we want. In this article, we will explain what those requirements are, and what to keep in mind when we are trying to obtain a credit card.
It is important first of all to keep in mind that the specific requirements can vary according to the type of credit card and the bank. For example, if we want to have a card that allows us to have a monthly credit of £100,000, we will undoubtedly have to prove that we receive a much higher income than that, to request a typical card. We will now be listing some of the general requirements for any basic type of credit card.
Credit Card Requirements
- Legal Age: Before acquiring a credit card, you are expected to be 21 years or older. You can also obtain this if you are 18 years of age, but you will need your parent’s permission for this and an income source. Being of legal age and having an identity document are basic requirements, as for most other procedures related to banks and obtaining credits.
- Good Credit History: Normally, to obtain a credit card they will ask us to show that we have a good record of payments. That is to say that we have never been part of a record of defaulters and that over time we have always been up to date with our debts.
- Verifiable Source Of Income: We will also have to give proof that we receive regular and sufficient income to be able to face the credits that we can generate with our card.
- Physical Address: To obtain a credit card, you must have a physical address where you can be reached out to and contacted whenever necessary. Having a physical address also shows that you are grounded, and less carefree.
- Proper Documentation: Finally, to obtain the credit card we will have to fill out the application document that will be delivered to us in the branch of the bank where we go. Depending on the cases, we can also download the form online and send it by mail.
These are some of the most important requirements when requesting for a credit card. Have these in mind whenever you are trying to get yourself a new one.