Everyone wants to own one of their credit cards for the sake of convenience in trade and financial control. However, not everyone can make a credit card. So, what are the conditions for making a credit card?
Nature of credit card
The essence of a credit card is the bank’s lending instrument and the most preferential lending tool. And of course, with any form of lending, the bank also requires the borrower to prove its financial ability and ability to repay.
There are two types of credit cards: unsecured credit cards and mortgage credit cards.
An unsecured credit card means a person who only needs to prove his or her finances through monthly income.
A mortgage credit card means that the cardholder must prove that the asset is secured (for example, a passbook, certificates of deposit or other relevant and approved bank statements). But now many people choose to make a mortgage credit card because the application is simpler and the procedure is faster than a mortgage credit card.
When making a credit card, the bank will require employees to have a payroll transfer. Because of this, the bank will know how long the person is at the company? What is the basic salary and how do you withdraw it? … these are special concerns of the bank.
Credit card conditions
As mentioned above, not everyone can make a credit card, so below we will introduce to you the conditions for making a credit card for our reference.
Credit card holders must be at least 18 years old and have a stable income of 3 months or more at agencies or companies. Making a credit card must be through proof of income, be it a savings book, valuable papers like real estate documents, accepted by the bank.
The bank will require customers to have a bank transfer. The reason for printing your statement is so that the bank will know how many months you have worked there and how much your salary is? These are things that banks are extremely interested in.
Look at the banks around your area. Because when you’re near a bank, it’s easier to verify your permanent address, your temporary residence or personal supervision. Therefore, if you open the card at the local bank, that is your advantage.
However, depending on the bank, there are different conditions for making a credit card.