Understanding Credit Card Criteria

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Understanding Credit Card Criteria
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INTRODUCTION
In this presentation, we will delve into the
essential factors that determine eligibility for
obtaining a credit card and guide you through the
process.
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IMPORTANCE OF CREDIT CARD CRITERIA

• Credit card issuers assess specific criteria to
  evaluate an applicant's creditworthiness.
• Meeting these criteria ensures responsible credit
  usage and financial stability.

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KEY CREDIT CARD CRITERIA

• Credit Score
• A numerical representation of your
  creditworthiness.
• Higher scores enhance approval chances and may
  lead to better terms.
• Income and Employment
• Demonstrating a steady income source supports
  your ability to repay.
• Employment stability influences creditworthiness.

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CONTINUING KEY CREDIT CARD CRITERIA

• Credit History
• A track record of responsible credit use.
• A positive history reflects your ability to
  manage debt.
• Debt-to-Income Ratio
• Compares your debt payments to your income.
• A lower ratio signifies better financial health.

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ADDITIONAL FACTORS

• Age and Legal Residency Minimum age and legal
  status are considered.
• Existing Debts High existing debts may impact
  approval or credit limit.

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TYPES OF CREDIT CARDS

• Different cards have varying criteria based on
  rewards, benefits, and credit limits.
• Secured cards may have lenient approval criteria
  for those building credit.

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APPLICATION PROCESS

• Gather required documents ID, income proof, etc.
• Apply online or in-person, submitting necessary
  information.

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THANK YOU