When applying for a credit card, lenders usually provide an option to check your eligibility. This is to ensure that you are likely to be accepted. It also helps you to make the best possible application. However, it is important to remember that an eligibility check is not a guarantee.
What is the eligible credit score for credit card?
There are two types of credit eligibility check searches: soft and hard. A soft search does not leave a footprint on your credit report. In contrast, a hard search does. The footprint is visible to lenders, who may view it as a sign of financial problems.
Soft searches are useful for people with bad credit histories. They only look at certain information on your credit report. For instance, they do not look at your previous employment history.
If you want to apply for a credit card, you need to complete a full application. You will need to give your name, address and date of birth. Some lenders may also require information about your current employment.
You should try to make regular monthly direct debits in order to prove that you are able to meet your regular financial obligations. It is also a good idea to stay in your current job for at least a year.
If you get turned down for credit, it will affect your credit rating. This makes it harder to get credit in the future.
Credit cards vary widely in terms of their eligibility. For example, some are only available in a particular city, while others are based on your income.
