Connect with us

Hi, what are you looking for?

Jewish Business News

Articles & Blogs

You cannot get a credit card without meeting these eligibility requirements

By Contributing Author

A credit card can be a useful tool or a mortal weapon if you do not use it responsibly. Indeed, it allows you to keep track of your expenses and manage your cash flow every single month, but if you do not handle your money with care then you might start experiencing a significant financial imbalance sooner than expected. Any adult has the possibility to get a credit card. In fact, the process can be fast and easy: you just complete the application and wait for the approval. Of course, the application demands relevant information concerning your financial status so apart from name, date of birth and SSN (social security number) you also need to include housing situation and income. However, this only applies to those who meet eligibility requirements. Credit card issuers, either banks or credit unions, provide strict guidelines that you need to follow religiously in order to qualify for a credit card.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.


Your credit score represents a decisive factor for credit card issuers

If you want to determine your odds for receiving the much-desired credit card, then you should first analyze your credit score and credit history. Poor credit represents a clear sign for card issuers that you are not trustworthy and responsible enough in order to benefit from a traditional credit card. Nevertheless, you should not panic because there are credit cards for bad credit available out there. We are talking about secured credit cards, which have the purpose to help you rebuild your credit score, but you do have to put down a deposit in order to prove that you are able to make your payments. While using the secured credit card, credit bureaus will stay up to date with your financial activity. Just make sure that you do not make a wrong move and you might have great chances of obtaining a traditional credit card. Secured credit cards are perfect for students or those people who do not have a stable job.

Other factors that might influence credit card issuers ‘decision

Besides age and credit rating, other factors might impede you from getting a credit card as well including residency status, employment status and income vs. expenses. Obviously, credit issuers prefer permanent citizens. However, even if you are a temporary resident, you can still apply for certain types of credit cards. In this case, you need to consider other factors that might influence the approval, such as your visa. In addition, you need to provide passport details so make sure that you keep it at hand. Moving on to employment status, if you have a full-time job, credit issuers automatically see you in a more favorable light because it shows your capability of repaying the credit spent. If you have a part-time job or if you are self-employed, do not immediately assume that you are not eligible for a credit card. In what concerns income vs. expenses, credit card issuers will demand information regarding your income, existing debts and spending habits to assess your capability of managing more credit.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.