Eligibility Criteria for Credit Cards

By - Paisafatafat Blog

  • 2017-09-06 05:16:41
  • Credit card

The credit card has grown increasingly popular in the recent times. It is one of the most popular credit instruments offering you the ease of accessing a pool of credit whenever you want. Use of credit cards can help you go cashless with your transactions; it can help you build a strong enough credit score and history. With the rising demand of credit cards, the credit card companies and banks have started offering varied card types to meet the requirements, lifestyle and the tastes of the customers. In addition, the offers and discounts associated with credit cards attract customers a lot.

In order to avail a credit card you need to be eligible for the credit card that you are opting for and your credit card eligibility actually depends on the purpose for which you are availing the card, on the city you are residing in, on the type of employment you have and also on the lender of the card.

The most basic credit card eligibility criteria are-

  • The minimum age of the applicant should be 18 years
  • Applicant should be employed and should have a steady income source to be able to clear the bills of the credit card
  • The applicant’s credit history should portray him in a favorable light
  • The applicant should be a Savings account holder

It is best to use a free credit card eligibility calculator online in order to gain an understanding of your credit card eligibility. Apart from knowing your eligibility, you can also use other online calculators such as credit card interest rates calculator etc.

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