Although the Credit cards They are one of the most used means of payment to make online or in person payments, There are several steps that must be followed before obtaining one and, in case of not fulfilling them properly, It is possible to be rejected by the bank.
Here are factors that banks take into account when approved a credit card.
Importance of credit history
One of the main reasons why the credit card is usually rejected to a user, It is the lack of a credit history.
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When the institution reviews your information, take into account your Credit qualificationwhich is provided by the Credit Bureau. This qualification can improve after making proper use of financial products.
While it may seem like a paradox needing a card to generate history and need history to have a cardsome of these can have lower requirements, since they are intended to help form history with small loans.
Payment capacity
Another factors that banks take into account when approveing a card is Customer payment capacity. In this sense, the bank will only approve a line of credit that fits the customer payment capacity, previously reviewed.
Other requirements
While the above reasons are some of the most common for which a loan is usually rejected, There are other requirements such as the following:
- Be of age;
- Have proof of income;
- Antiquity in the same address.
Finally, having a credit card is a very large financial responsibility, So it is important to meet the requirements and consult with your bank of preference.
JM
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(Tagstotranslate) BBVA Bancomer (T) Credit Bureau (T) Credit Cards