Are you looking to get a credit card? Whether it is a question of replacing your current card or obtaining a new alternative, the basic conditions for obtaining them are in principle the same for all providers. A quick overview.
The decision whether to accept the credit card application depends primarily on the creditworthiness of the applicant.
Basic conditions for obtaining
Before even carrying out a study on the creditworthiness of the applicant, the organizations check that the basic conditions for obtaining are met. In particular:
- Applicant’s professional situation: if the latter is unemployed, the application will in fact be automatically refused, unless a net worth greater than 250,000 dollars is declared.
- Lawsuits in progress: if the applicant has lawsuits in progress, he will have to settle them before being able to obtain a credit card, this even if the amount of the lawsuit is low.
- Age: minors cannot get credit cards, although a prepay card is possible.
Solvency and good standing study
If the applicant is not unemployed, the issuing body then performs a credit study. Overall, this is to decide the conditions for granting the credit card are met. In particular are studied:
- Financial history (good repute): are there any negative ZEK codes, are they recent?
- Disposable income: is the budget sufficient to allow the granting of a card?
- Personal situation: how old is the person? Is she salaried? Independent? Does she have dependent children?
Overall, it is the credit study that will determine whether the conditions for obtaining the credit card are met, but not only: this study will also determine the maximum limit.
Maximum credit card limit
If the conditions for obtaining them are met, the request will therefore be accepted. However, depending on the creditworthiness and good repute, a higher or lower maximum limit will be proposed. This limit corresponds to the credit card limit. The applicant can then either accept the proposed ceiling or request a lower limit.
Note that not all organizations offering Visa / Mastercard cards are equal with respect to the proposed limit. Thus, certain solutions, such as for example the one proposed by Multilend, very often makes it possible to obtain higher ceilings. In case of doubt, it is of course always possible to make a request and check the conditions offered before committing.
The alternatives: the prepay card
If it is impossible to obtain a “traditional” credit card, there is always the possibility of obtaining an alternative known as “prepay”, which are in principle accessible to all. Unlike a “traditional” solution, these payment solutions must be loaded “in advance” before they can be used.