As credit companies are being more picky on who they are giving credit to it is even more important to get the best interest available when getting a credit card. Learn how to qualify for a low interest rate credit card.
1. Meet Income credentials. Most low interest require a house hold yearly income of at least $20,000 and many times $50,000.
2. Your debt to income ratio must be intact. Your mortgage or rent payments and credit card bills must not go over 40% of your income.
3. Many creditors check job security. This is usually determined if the applicant has had the same employer or has been in the same vocational field for the past two years.
4. You have held the same address for the last two years.
5. Your credit report must show that you have had a major credit card or loan that is in good standing for at least one year. The past four years on the credit check will also look for payments that has been more then 60 days late. Credit score will have a major effect on what interest rates are offered to you.
1. Meet Income credentials. Most low interest require a house hold yearly income of at least $20,000 and many times $50,000.
2. Your debt to income ratio must be intact. Your mortgage or rent payments and credit card bills must not go over 40% of your income.
3. Many creditors check job security. This is usually determined if the applicant has had the same employer or has been in the same vocational field for the past two years.
4. You have held the same address for the last two years.
5. Your credit report must show that you have had a major credit card or loan that is in good standing for at least one year. The past four years on the credit check will also look for payments that has been more then 60 days late. Credit score will have a major effect on what interest rates are offered to you.
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