A credit card is a very useful financial tool, and acquiring one can be easier than you think if you qualify for a credit card. By obtaining a credit card you access numerous benefits that will allow you to be approved for other tools in the future. Therefore, in the next post we will show you the 5 requirements to obtain a credit card.
Although there are 5 requirements to obtain a credit card , there are other aspects that we will review in the following article that allow, from the point of view of the bank and the applicant, to grant and access the credit card , respectively.
Requirements to obtain a credit card
The requirements to obtain a credit card usually vary or increase according to the bank where it is requested and the type of card. However, we will show you the 5 basic requirements that you will generally need in any bank to apply for the card.
- Reach the age of majority: For a standard or high category Credit Card, the applicant must be 18 years of age or older. However, there are first-time or special Credit Cards for young people who have not reached the age of majority yet, with only the basic benefits and that require authorization from the representative.
- Deliver the corresponding personal documentation: The applicant’s identification documents and the credit card application generated by the selected bank. If applicable, additional documents such as payroll vouchers or a photocopy of the income statement may also be required.
- Deliver an income certification: This requirement is very important, because for the bank it is of utmost importance to ensure that the person requesting the credit card has the monetary capacity to pay the debt installments that they generate, so it is due Present a certification of income, proof of work or document that certifies that you receive sufficient resources to fulfill your responsibility with the bank.
- Have Colombian nationality or immigration card: The applicant must be of Colombian nationality or have a valid immigration card.
- Have a good credit history: All credit card applications are subject to credit evaluation by the financial institution. When you submit your personal data in the application, they immediately verify if you are in a risk center with a negative rating. If so, your application will be rejected. Having a positive credit history is a fundamental requirement to obtain a credit card.
On the other hand, in some banks in Colombia the applicant for a credit card is required to have an account at the selected bank for a certain period of time. Depending on each bank, a different account age is requested and also a specific money range in account movements. This will depend on the level of the card and the applicant’s account movements.