A credit card opens up a world of convenience. Having one means carrying "extra cash" when you need to buy something that's out of your budget. 

You don't just get your hands on something so great so easily, however. Applying for a credit card can be difficult especially if you can't complete the requirements. If you really want to have one, you must work on it.

Here are some tips that will help you get the credit card you want.

Complete your requirements

Most credit card companies are very tedious with their requirements. However, the requirements vary from one bank to another. If you’re an employee from a private company, they usually ask for your latest monthly payslip and your Income Tax Return (ITR). If you’re self-employed, you need to provide your business permit and your latest ITR. 

Pay off your debts

If you have remaining balances on your other credit account, make sure you pay them all off.  Credit card companies may think you will not be able to handle anymore debts if you still have remaining debts.

If you have a large existing credit balance, make sure to trim down your balance first and consistently pay for it before you apply for another credit card.

Work hard to increase your income

Different credit card companies have different minimum income levels depending on the credit card type that you want to get. Credit cards with annual fee usually require a higher income since these type of credit cards offer better rewards than the regular credit cards.

If you have a specific credit card that you want to get, you’ll have a better chance of getting your hands on that card if you have a higher income than the minimum they require. 

Keep a good credit profile

Paying off your bills and your debt makes a good credit record. But zero liability doesn’t guarantee that you will get a credit card. Since credit card issuers gauge your ability to repay the money they’re going to loan you. 

Maintain a big savings account

If you at least have a savings account, try to save as much as P20,000 in your savings account. Your credit card company will give you a credit card themselves because you earned it. This serves as the bank’s reference when determining your financial capacity and evaluating the stability of your cash flow.

Getting a credit card might be difficult, but by following these tips, you will have a higher chance of getting your credit card application approved.

Find the right credit card that suits your needs. Check out and compare the best credit cards with GoBear today!




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