When a financial institution reviews your application they will be checking such issues as ability to repay a debt. Your pension, of course, is very important plus any other source of income you might have. The creditor is less interested in what the source of income is and more concerned with the fact that the source truly exists. Therefore you may have to show proof in the form of bank statements or deposits.
The creditor will also be checking such things as credit history, other debts compared to the amount of your income, length of time on a job or length of residence.
- My credit score is 743. Every time I apply for a credit card I'm denied. I'm told I have too many balances on cards. I have two credit cards only totaling less than $2,000. I'm not sure what the problem is. I own a home, I make $85,000 on my own and I also have income coming in from my husband. What am I to do? Good credit, almost no credit cards, and I'm never late with anything. Any suggestions?
- Can I include my spouse's income on a credit card application?
- Do you need a job for a credit card?
- Are Discover Card credit cards any good?
- Which bank offers the best debit card?
- Is a credit score of 725 considered good?
- Why do you rate American Express credit requirements as "good credit" to secure a card? I thought to qualify for an American Express card you have to have excellent credit.
- Supposing you have a perfect credit score of 800 or better; which credit card offers the highest credit limits?