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Factors that impede you from getting a credit card

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If you intend to apply for a credit card, then you have to know several important things. First, you have the possibility to explore multiple types of credit cards, suitable for every person's current social and financial status as well as preferences. Secondly, after completing this process, you need to wait for the approval of the credit card issuer. Generally, they evaluate the credit history and application details of each candidate in order to establish his qualification for the request, namely receiving the much-desired credit card. Obviously, each credit card issuer has different criteria that he strictly applies throughout the entire approval process. You probably think that by finding the right credit card issues for you, there will not be a problem in getting that credit card. Well, the situation is more complex that you imagine. You probably spent precious time analyzing top credit cards in order to select the most beneficial option. You should know that certain factors might ruin your plans and expectations by impeding your long-awaited approval.

Never having a credit card before

Not having a credit card in the past represents the first factor that could bring you disappointment when handing out your application. If you really think about it, the rejection is quite understandable. Lenders are reluctant when facing a blank credit profile because they do not have the certainty that you will be able to handle money properly so they are taking a risk by deciding to give you a credit card. The bright side is that you have solutions. For instance, you can ask the help of a close relative with good credit history to become your cosigner. The lender will rest assured that someone responsible with experience in handling credit cards is able and willing to pay the bill for you.

Being unemployed or having a low income

Not having a stable job lowers the probability of you receiving the necessary approval of a credit card. Practically, the lender needs to know that you can afford having a credit card. However, completing the mission is not impossible. For instance, if you are married, you can use the income of your partner, with his or her permission of course, in order to show the lenders that you can make the required payments. Remember that you need to have access to the partner's funds to impede a potential rejection. On the other hand, if you do have a job but your income is low, lenders may interpret this factor differently. While some may consider your funds insufficient for the approval, others may find the amount you dispose of acceptable.

Having a low credit score

The lender has to inform you about the reason for denying your request, if we consider the worst-case scenario and one of those reasons may be a low credit score. As mentioned above, card issuers do analyze the financial information of the person applying for a credit card and credit score probably represents the most important factor that influences their decision because it shows your responsibility and spending habits.


This article was written by Adam Monson for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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