FundKitchen

It seems a lot of people are still confused about how to get a credit card, while in fact it is one of primary needs for internet entrepreneur. Here I will describe a short guidance about how to get one. For you who had it already (or maybe even collect it), please share your experience to complete this article.

Every bank in different country will have its own policy, but generally there are two methods you have to get one.

1. Standard application procedure, where you fill the application form and must qualify for the terms. The card center division of the bank publishing the credit card will conduct a survey to determine wether your application is qualify, or not. The approval rate is about 50% - 80%.

If you already have credit card from other bank, this application process is usually easier to be approved. But still it doesn't mean your approval is guaranteed since the survey process will still be conducted. The approval rate is about 70% - 90%.

According to the information from the sources at the bank, lot of factors can affect the judgement of the survey. The validity of information you supplied of course is the main factor, but some little stuffs will also be counted, for example, is it easy to reach you by phone (including your other family member). If they have trouble contacting you, then you'll get negative point. Sort like that.

2. Insurance fund, either fresh fund in your saving account or other valuable papers (cheque, deposits, etc). The amount of the fund will determine the limit and type of your credit card. For the type you usually can get Silver or Gold credit card. And for the limit, it depends to the policy of the bank. Some banks can give 100% limitation equal to the fund's amount, while some banks will cut 10% of it. So you better ask the detail prior to propose an application.

This method of application has approval rate of about 95% - 100%. But still you will be contacted by the card center to check the validity of information. This usually is just a formality.

Note, NOT ALL bank allow us to propose credit card application using insurance fund. Also the kind of fund and the facility you'll get will vary. For example, there are banks that ask for deposits. Despite the limit of the credit is only 90% of the deposits, we get monthly interest as if we have saving in deposits.

Other than two methods that has been described, some banks will automatically offer you a credit card once your saving has reached certain level. In this case, the approval rate is almost guaranteed 100% since your credit card application is recomended by the bank.

If you find credit card counters around the mall or any business area, they usually are agents, not direct representatives of the bank. My advice is that you better directly sign to nearest bank branch instead of using these agents. Why? Because I never get approval using them. Sorry guys.

So, hopefully this information is useful for you.