Not sure how to qualify for a credit card? That's understandable—the process isn’t always straightforward, especially if you’re new to credit or have hit some bumps along the way. But don’t worry; we’ll clear up your doubts today.
From figuring out what makes you eligible to improving your chances of approval, here’s a friendly guide on how to get that shiny piece of plastic in your wallet.
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Can anyone get a credit card?
It’s a fair question to ask, and the short answer is yes—almost any adult can get a credit card, but the type of card you’ll qualify for depends on several factors, like your credit score, income, and credit history.
Even if you’re a student, you have no credit history, or your credit isn’t great, there are options for you. Banks offer credit cards tailored for specific situations, like student cards, secured cards (where you put down a deposit), and cards for building credit. However, premium credit cards with perks and rewards are generally reserved for people with higher credit scores and solid incomes.
How to qualify for a credit card
It may seem like there’s a lot of mystery around credit card qualifications, but the process is relatively simple once you know what lenders are looking for. There are a few things you can do right now to help you qualify for a credit card:
1. Check your credit score
Your credit score is one of the biggest factors banks use to determine whether you qualify for a credit card. Credit scores typically range from 300 to 850, and the higher your score, the better your chances of being approved for a card with favorable terms.
If you don’t know your score, there are many free tools online to check it. Most major banks and credit card companies offer an eligibility checker on their websites.
A score of 700 or above is considered good and will likely get you approved for most credit cards, including those with rewards and low interest rates. A score below 600 might make it harder to qualify for the most appealing credit cards, but other options like secured cards are still available.
2. Review your income
When you apply for a credit card, lenders will ask for your income to ensure that you can repay what you borrow. No fixed minimum income is required for all cards, but having a steady source of money always helps.
If you don’t have a traditional salary (say you’re a freelancer), you can still list other sources of income like part-time jobs or side gigs. For students or people without a steady income, student credit cards or joint accounts with a co-signer are often good options to get started.
3. Ensure you meet the age requirement
You must be at least 18 years old to apply for a credit card. (If you're a minor navigating your way through credit cards, use this article as your guide).
If you’re under 21 and don’t have a regular income, you may need a co-signer or proof that you can make payments independently. Don’t worry if you’re just starting—many banks offer starter credit cards for young adults.
4. Know your debt-to-income ratio
Your debt-to-income (DTI) ratio is a crucial figure lenders consider, as it shows how much debt you have relative to your income. A high DTI means you’re using a large portion of your income to pay off debt, which can be a red flag to lenders. Ideally, you want your DTI to be below 36%. If it’s higher, consider paying down some of your existing debt before applying for a new card.
5. Have a positive credit history
If you already have a credit history, lenders will want to see how well you’ve managed credit in the past. A positive credit history—including on-time payments, low credit utilization, and responsible borrowing—makes it easier to qualify for new cards. On the flip side, if you’ve missed payments or defaulted on loans, you may face more challenges in getting approved.
If you don’t have any credit history yet, you can build one by applying for a secured credit card or becoming an authorized user on someone else’s account (like a parent’s card). With secured cards, you put down a deposit as collateral, which helps you qualify even with a none or negative credit history.
How do you get approved for a credit card? Bonus tips to improve your chances
If you’re worried about your chances of being approved for a credit card, here are a few extra tips to help boost your chances and ensure a smooth process:
Choose the right card for you
Make sure you’re applying for a card that fits your current situation. If you’re new to credit or have a lower score, it’s a good idea to start with a secured card or credit-building card. These cards are designed for people who are still establishing or rebuilding credit, and they have lower approval requirements.
Lower your credit utilization
Your credit utilization ratio—how much credit you’re using compared to how much you have available—affects your credit score. Aim to keep your utilization below 30%. If you have existing credit cards, try paying down balances before applying for a new one to improve your approval odds.
Avoid too many applications
Each time you apply for a credit card, the lender runs a hard inquiry on your credit report, which can temporarily lower your score. Applying for several cards at once can make you look desperate for credit, which is a red flag for lenders. Instead, space out applications and focus on applying for cards you’re more likely to get approved for based on your current credit score.
Bottom line
Getting a credit card doesn’t have to be a stressful process as long as you understand what lenders are looking for. By keeping an eye on your credit score, managing your income and debt responsibly, and applying for the right card, you can increase your chances of qualifying for a card that suits your financial needs.
Remember, building credit is a marathon, not a sprint. If you don’t qualify for the card you want right away, there are plenty of ways to improve your credit and try again in the future.
Stay curious, friends. This might also interest you: Why Can't I Get a Credit Card? 10 Reasons You Might Keep Getting Denied
FAQs
What credit cards do I qualify for?
It depends. Most credit cards require you to be at least 18 years old, have a steady income, and have a decent credit score (usually 600 or above).
How do I get a credit card if I have no credit history?
You can apply for a secured credit card, where you put down a deposit as collateral, or become an authorized user on someone else’s credit card account to start building your credit.
How much income do you need for a credit card?
There’s no set minimum income for all credit cards, but having a stable income source is essential. Even part-time jobs or side gigs can count as income.
Why am I ineligible for a credit card?
You may be ineligible for a credit card if you have a low credit score, too much debt, or if you’re under 18. If you’re rejected, the lender should provide a reason why.
What are the 3 C's that determine if you qualify for a credit card?
The 3 C’s are credit, capacity (meaning income), and collateral. While not every card requires collateral, your credit score and income are critical factors in determining your eligibility.
What disqualifies you from getting a credit card?
A low credit score, excessive debt, inconsistent income, or a history of missed or late payments can disqualify you from getting a credit card. Lenders might also deny your application if you’ve had recent bankruptcies or too many recent hard inquiries on your credit report.
How to get a credit card for the first time at 18?
To get your first credit card at 18, consider applying for a student credit card or a secured credit card. These options are specifically designed for people with little to no credit history. Having a steady source of income (like a part-time job) and keeping any existing debts low will also help increase your chances of approval. You may need to provide proof of income or get a co-signer if you don’t have an independent source of income.
How to get approved for a credit card as a student?
Look for a student credit card—many banks offer them with lower credit score requirements and minimal income. Make sure you have some source of income, like a part-time job, to show the bank you can repay any debts. Also, consider starting with a secured card or ask a parent to make you an authorized user on their account, which can help you build credit while you’re in school.
How to get approved for a credit card with bad credit?
For those with bad credit, your best option is to apply for a secured credit card. Over time, responsibly using a secured card can help you rebuild your credit, making it easier to qualify for better cards in the future. Avoid applying for multiple cards in a short time, as this can lower your score further.
Where can I find a credit card eligibility checker?
Most major banks and credit card companies offer an eligibility checker on their websites. These tools allow you to see what cards you’re likely to qualify for without impacting your credit score since they usually perform a soft inquiry. Check with your bank or visit popular credit card websites to use their eligibility checkers before applying.