Credit cards are necessary because they allow us to start our credit history, once we have reached the age of majority. However, many do not have one or do not qualify for one yet. In this publication we want to help you know if you are eligible to apply for a credit card; as well as why your previous application may have been rejected.
Do youHow to know if I qualify for a credit card? What do banks and financial institutions take into account?
Although you have to be of legal age to apply for and have a credit card, not all people who have just turned 18 years old qualify for one. What’s more, many banks only grant credit cards to people over 25 years of age (to give an example). In addition, if people of a lower age range want to request them, more documentation is required, for example, ballots or receipts for fees from the last three months, etc.
Next, we list what banks evaluate to grant a credit card:
Credit history is an important factor in knowing whether or not you are a candidate for a credit card, since it allows the financial institution to know whether or not the user is a good payer. If you do not have a previous credit history, it is most likely that some financial entities will grant you the card, but for low amounts, for example, with a monthly credit of only 500 soles until, with the use of your card, you form a history favorable.
Check your income
Some banks will ask you to prove your income to grant you a credit card. To do this, they will ask you for the ballots or receipts for fees issued in recent months. After all, they must be sure that you have a paid job that allows you to pay the monthly payments of the consumption made with your card.
In some cases, they will evaluate your work seniority
If you have just obtained your first job and want a credit card, it is better that you wait until you have completed 6 months working in the place to apply for this bank benefit.
What to do if you have a bad credit history and want to have a credit card?
If you had a bad credit history, we recommend that before applying for a credit card, you better regulate your situation. To do this, you must first pay your past due or penalized debts and then just enter a program that allows you to reintegrate into the financial system.
At alDía we can help you, if you have the money to pay off your debt, we have the Pool program, thanks to which we collectively negotiate your debt, to obtain greater benefits when paying it off. On the other hand, if you still do not have the total amount and need help to cancel your debt, we have the Mi Junta program, with which you will start paying a monthly amount to your own and protected fund, with the aim of reaching the total amount and pay off your debt; then, we will take care of negotiating the best conditions and obtaining benefits for you to make your payment, thanks to our massive debt negotiation. Finally! We help you become attractive to banks again with the REINSERT plan. Contact us to tell you more about our programs!