Applying for credit cards from local banks here in my country is not easy. Anyone who wants to apply must at least have a minimum income of $1500 a month to be eligible. Even though I've had a job with higher salary in the past but I never bothered to apply for one because I'm a person who likes to travel a lot and therefore I change my job frequently and I won't always have a lot of money. I am also only happy using any money that I have already earned. How easy is it getting a credit card in your place or country?
It is super easy to get a credit card in Canada. One needs only have a bank account and either an average or better credit rating or no credit rating. Universities are common locations for companies to go and sign up students for credit cards and the students will often not be working at the time. They must be 18 to get a card though. I now have a good credit history but credit card companies do not have access to my income information as that isn't on my credit report. In your case, apply when you have a job that pays the amount you need. Once you have the card, it isn't likely that the company will revoke it if you change jobs. Just pay it off and it will be fine. Usually you can hold the card forever if you pay it off. If your circumstances change and your credit score changes, the interest rate on the card may change but you will still have the card to use.
It usually depends on many factors. One of those is whether the applicant has assets such as a bank account or collateral. Another important factor is monthly expenses like rent or a car note. A person who makes only a $1000/month with no expenses is more likely to get credit over someone who makes $1600 but pays $800 rent and has a student loans to pay back.
Ours don't always have minimum income requirements either. While it might be preferred and it may give better interest rates, a kid in college without any income and no credit history at all can sign up for a credit card. It's a horrible practice where they prey on fresh students in hopes of them maxing out the cards and having to pay a bunch of interest and late fees.
Just get one, then don't use it or be responsible, then the good ones will follow Basically, if you want a great credit card (which to me, is a bit of an oxymoron) start with whatever one you can get, and maybe just don't use it! Then, upgrade from there. Keep in mind that hard hits to one's credit only lower one's credit score for one year. So, do tons of applications, then out of the ones that you get, keep the ones with the longest grace period for repayment (which is the amount of time you have to pay off a balance before interest is charged), lowest interest and/or minimum finance charge, and/or the highest credit amount available. Then, from there, you can apply to even better ones after your credit keeps going up over time; maybe upgrade every year, after the hard hits are no longer used against you? Either way, income is a factor, but, a strong credit history can go a long way (no delinquencies and what-have-you). For more information on income requirements,Log In. For more information on finance charges, grace periods, etc,Log In. For more information about hard credit inquiries,Log In. Long story short? Get whatever line of credit you possibly can (be it domestic or foreign) then if you must use your card, pay it before the grace period runs out and on time; also, avoid fees as much as possible (such as an annual fee). Even a secured credit card is ok... whatever it takes to get some proof that you are responsible with money will work. They want proof that you have self-control and are financially stable. If you are, all you must do is get your foot in the door.
Wow that's so easy but the banks should at least put like a minimum for a fresh students who don't have a job yet to be able to apply for the credit card. But I think if the parents are having control over the credit card then I think that should be okay.
They don't. As soon as someone turns 18 (which they usually are by the end of high school and before they go away to college), then can start getting them on their own. There are even some that allow them at the age of 16. They are low limits and high interest rates, but they don't require a parent signature.
It depends on your bank. My cousin makes over $4000 and he was turned down at one bank, but not at his other bank. And he uses both frequently I should note. They have been getting more strict on giving out credit cards. It's a little ridiculous. Oh well. I have mine so I am good to go.
