Credit card is not just a card you have to keep for your expenses. Also, It will save your money aside. But, you will need to have some minimum prerequisites to get connected with the best credit card offers. This tutorial will show you what you need to achieve to get this awesome card for your future. Remember, most of the people, this card is a curse, but It’s not if you are wise with the expenses you make.

Even it’s a sharp knife, if you know how to control it, nothing can cut you. In addition, that knife sometimes can be a dangerous weapon or invaluable tool as you use it.

Credit card is the best way to manage your cash flow and track all the expenses in one way. Because of the credit cards grace period, It’s really easy to pay your debts after a few days without any interest. Most of the people are afraid of credit cards because they know only to do some expenses, not to pay back. So, remember, if you are going to use a credit card, the first rule is you should be able to pay it back. It means, if you can pay back in the right time, a credit card is a free thing. In addition, if you have a good reputation by paying them back, you will get a cashback from some banks also. How good it is.

If you have some amounts to pay one time, credit cards are a better solution for you if you can pay back in a few days. If we get a scenario, think you have to pay for your student’s fee. You have to pay it in the mid of month and you can use your credit card make that payment once. However, now you can collect money in a few days to pay it back right? First, you should think about the cash flow you will earn in future. Without thinking about it, never play with credit cards.

Basic Prerequisites to get a credit card

21 years old or18 years old with either parent’s permissions or verified income source.

These days ae doesn’t matter. But remember, banks have some rules for especially for credits. As a centralized network in a country, you won’t be able to break these rules. But country wise, those rules can be changed. However, there is an Act called CARD which was designed in 2009 to prevent banks from certain dangerous practices. If you under 21, you can apply for a credit card, but it needs some verifications and it can be a  long process with your experience and knowledge. But it worths to try it. Because I also tried and failed once.

Social Security Number

You should have a social security number to maintain a credit history. If you are not a citizen you won’t be able to try it.

Good Source of Income

This is the hard question and you have to answer it anyway. When you are going to apply for a credit card, banks will ask to fill an application.  In that form, you will have to provide your monthly income. It should be real income maybe from your employment, part-time jobs or any kind of business you do for a living. Because banks won’t lend money for you if they see you have no potential to pay them back.

You don’t need to write all the income sources you have. Only income source you will use to repay your credits. Banks will then decide whether you should have a credit card or not and what is the extended amount for your approved card. Remember, you can’t lie to banks, because the will surely ask you to show all the proof of income.

Have a positive credit history

If you already have credit cards or any type of credits from a bank or any financial institution, it will be your visa for getting a credit card without any questions. But it’s not easy to maintain a good history every year if you income sources are unstable. In addition, this leads to get an unsecured-credit card which you don’t need  keep any security at the bank.

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