In our generation, having a credit card opens a lot of opportunities; opportunities not just in buying stuff that is difficult to find but also by investments, credit standing improvement, etc. Here in the Philippines, being a credit card owner is most of the time a misconception. In reality, having a credit card doesn’t mean you’re rich, it’s just an additional convenient way of purchasing.
First things you have to ensure is that you have income. Of course, you won’t have proof you’re able to pay if you don’t present any source of income, right? So once you have everything all set, it’s time for the application.
Credit card officers or banks don’t like people who hop from one job to another. Ensure that you stay with your job so that it becomes a liable source of information. Imagine you seeing a person jump from one company to another, would you be able to put your trust to that person?
Another thing is that having more and better income doesn’t ensure your chances of having credit card approval. We need to remember that “capacity to pay” is not the only thing that banks are looking for; they also look at the spending capacity or pattern by looking at the history of your bills, loans, etc.
Of course, it would be a lot better if you add sources of income when you apply for a credit card. For instance, if you own a business, go and file your business’s Income Tax Return (ITR) to add up to your monthly/annual income.
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