Get a Credit Card and Apply

More and more people are now using a credit card to pay for their everyday purchases, bill payments, shopping and travel expenses. Getting a credit card is easy but there are some risks that may come with applying. Before you get a credit card and apply, the credit card issuer will look at your salary, credit history and documents that you’ve provided in your application.

The bank issuer of your credit card will review your application whether you have the capability to repay the money you borrow. If you want to improve your chances of approval, read on GoBear’s guide below!

Tips to Consider Before You Apply

The pre-application for credit card application in the Philippines is important compared to the act of applying. Though it only takes minutes to fill out the form, getting your affairs in order so that you’re prepared for the bank’s assessment of your application will take a little more time and preparation.

1. Assess your needs. There are different types of credit card depending on your spending habit. Before you begin your research, consider what you want, need, and can afford. For instance, if you’re a regular spender for groceries and shopping, go for credit cards that reward you best for these. If you’re a frequent flyer, get a credit card that will give you the best rewards.

2. Research. Before you consider getting a credit card, make sure you do some research on which credit card is best suited for your spending habits.

3. Check the Eligibility Requirements. There are certain eligibility requirements that must be met before you can apply. Make sure that you meet the criteria before you meet the application, to avoid rejection.

4. Lessen Your Credit Utilisation Ratio. If you have an existing credit card balance, it’s wiser to pay for your balances first before you get a new card and apply. Having a balance will give them a bad impression of you, lowering your chances of getting a credit card.

5. Make Sure You Have a Savings Account with Your Credit Card Provider To-Be. Having or opening a savings account or debit account can be your ticket to a successful credit card application. This will make your application faster because you’re already an existing customer and the bank has already verified that you are a legitimate customer.

Before you look for a credit card and apply, make sure you have done some research and read these tips to ensure the success of your credit application.

Looking for a credit card that is tailored to your needs? Get the best credit card by comparing credit cards with the lowest interest rates with GoBear today!