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Credit card: Don’t have a job, still you will get credit card, know how

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In today’s era having a credit card has become very important. Most financial institutions or banks require proof of employment to get a credit card. Hence, getting a credit card becomes a bit difficult for many self-employed or unemployed people. But this task is not impossible. There are some requirements for a credit card, with the help of which you can get a credit card.




Proof of income

Income is more important than job. If you don’t have a job but keep getting enough money in your account, you are eligible to apply for a credit card. You will need to submit proof of income to the bank along with your credit card request. Income can be from royalties, business profits, or alimony. Some banks may ask you for records of your income tax return.

Credit card for students

College students are also eligible to apply for a credit card. However, for this they must have a trust fund, investments or certain financial assets. There are some banks that will give you a credit card if you already have an account with enough money.

With the help of co-signer

A co-signer is actually a guarantor who has good credit. When the co-signer approves you for the credit card, he or she becomes equally responsible for the payment as you are. The credit score of the co-signer is also affected in the event of a payment default. Generally, only the guardian or parents are considered as co-signers by the banks.




Apply for Secured Credit Card

You can take a secured credit card even if you do not have a job or are self-employed. You must have funds available for this. If the amount acts as a security deposit for your credit card, the fund acts as a collateral in lieu of a credit line. In case of failure to pay the balance amount, the amount will be deducted from the security deposit.

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