Want to know how to qualify for a credit card?  Just carefully review this article. It is not very easy to get an approval for a credit card. Financial institutions demand your identity and a lot of important information before your approval. What can you do to ensure your approval?How to Qualify Card for a Credit

How to Qualify Card for a Credit ; Be of Legal Age to get a Credit Card

The age legally accepted for an individual to get a personal card  is 18. But before getting a credit card, ensure you have a stable source of income. Do not just apply for a card because others are applying. When you have a stable income, you can easily pay your bills and your balances in full monthly. Even though the low did not give a certain amount to serve as someone’s income before applying for a card, be wise.

How to Qualify Card for a Credit ; Have Your Own Income

You must have a work that can take care of your bills before applying for a credit card. Since October 2011, financial institutions stopped considering household income for credit card applicants.

But later, applicants 21 and above were permitted to use  the income of partners that they have “reasonable access” to their income, i.e. deposits into a shared account or regular transfers from the wage earners account to the card applicant’s account. At 21, you can’t put your parents income on your card except if you are a joint applicant with them.

How to Qualify Card for a Credit ; Build a Positive Credit History

Financial institutions find it easy to approve your card when you have a positive credit history.  If your credit history is full of delinquencies, late payments, and overspending; your chances of approval will be very low. Some financial institutions only approve applicants who have a very perfect  credit report. Many will approve your application if your late payments aren’t not about 2 years ago.

When your credit history is negative credit history with a particular credit card company, could keep you from getting approved by that same issuer. For example, if you had a charge-off with a prior Chase credit card, you may not get approved for a new Chase credit card.

 Don’t Have a Lot of Debt

Here, your credit balance in other Credit cards can greatly affect your approval. When your credit utilization is high, you will not get an approval. Ensure that your credit card debt is below 30% of your credit limit. If you spend above your credit limit, you are looking for a bad credit score. Your debt income ratio can negatively affect you. Spend wisely, avoid accumulating debts you cannot pay.

 Get a Co-Signer

In case you have a problem qualifying on your own – due to low income, age or bad credit history and score, get a co-signer. He can qualify for you both. Do not forget to spend responsibly so that you will not negatively affect him. This is because co-signing is a risk. He is responsible when you fail to pay.

 Get a secured Credit Card

It is easy to get approval for a secured credit card. You only have to pay a security deposit equivalent to  the credit limit.

With consistent monthly payment for about 1 year,  you may qualify for an unsecured credit card, as long as your credit report is excellent.  The security deposit amount is determined by the financial institution.