Applying for a first credit card is very exciting as it gives one a sense of liberation and a financial solution which can cater to a lot of our needs. This is why an increasing number of individuals these days are now applying for a credit card despite having an already existing debit card. A big reason behind this trend is also because of the fact that a credit card offers features and benefits which a debit card is unable to. 

If you are applying for a credit card for the first time, then there are a few important aspects which you must remember. Mentioned below are a few of them -

Stable Income Source

A stable source of income is one of the biggest parameters which a lenders checks in an applicant when considering the credit card application. This is because it is used to ascertain whether or not you will be able to repay back the amount which will be spent. For the same reason, businessmen and salaried individuals have different eligibility criteria for the same credit cards.

Don’t Make Many Applications

Every time you apply for a credit card, the lenders sends a hard request to the credit agency to check your credit score. If you apply for a credit card with many lenders then all of them will sending their requests in a very short span of time. This will make you appear credit-hungry and bring down your credit score. You should thus check and compare various lenders and the credit cards which they are offering and only apply where you are sure that your application will get accepted. 

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