If you’re applying for a new credit card, maybe even your first one, you may have a lot of questions.
For instance, if your credit limit is $10,000 per month, it means that if your expenses go above this value, these purchases will be denied and your credit score might fall. Banks may consider you a flight risk and this will cause your credit score to take a hit. This will in turn, play a role in the rejection of your credit card application.: Before applying for a new credit card, take a few months to adjust your spending habits and rack up a good credit score. Stick to the 30 per cent rule and you should be fine.2. Your loan balances are too high
A credit score is essentially a bank’s way of ranking its customers in terms of how likely they are to pay back their loans, with AA being a gold star client who pays everything back on time and HH being you are more likely to default than anything. While you can still be an irresponsible card user with a high income and a reliable customer with a lower income, most providers would think of a lower income client as more risk prone and may hesitate to approve their credit card application.If you are a student or young adult that recently graduated, you might be hard pressed to meet requirements of most credit card companies.
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