Friday, May 16, 2008

Increasing your Credit Eligibility.. How? Check this out!

I worked in finance department for two years. Thou, I am not a financial analyst I was able to familiarized with the terms they used. At first, I am not really interested on how our analyst did their works but one thing caught me was the credit eligibility, not because I am planning to loan or to get a new credit card but because of my best friend. She is now living at United States and she found it hard to get a credit card there. I told her, why get a credit card when you can pay in cash? And she told me that it's not possible because almost of the payment method used there is in terms of credit card and getting one is not easy. I wondered why it will be that difficult where in fact the credit card establishments can also benefit on that because of the interest they will get from you.

Out of my curiosity, I researched to learned more about the credit eligibility they are talking about. I'm also planning to move in US in the near future so why not start learning about it? While reading a lot of articles about credit cards and asking my friend who worked as agent supporting credit cards I learned that credit eligibility is one of the significant factors for you to be able to get at least one credit line. But how would you really know if you are eligible, here's the 3 Ways to know:

1. First of course is your ability to pay. This includes of course the business permit or the proof of your employment. This way, the lending investors will be sure that you have the ability to pay.

2. Another one is your ability to spend. I think through this, the lender would be able to know if you are qualified for the particular credit limit or not. This is because no matter how high is your income but if it's only equalized your spending this still means that you might not be able to pay additional obligations if your earnings just matched with your spending. You also have to check this out.

3. And the last but not the least is your credit history. Through this the lending investors will be able to know how good or bad payer you are. For first time credit card user, this might not be a problem because you are just about to start your credit history. But for those who already have one, two or many credit cards, their credit history is very important. This is their way of establishing trust to the lender.

It's good if your history is good but how about for those who has bad credit history not because they want to have a bad records but probably they just encountered a not so good circumstances that lead them to that. Oops, don't worry because I also have answer to your dilemma. And this is not only for those who have bad credit history but it will work the same for the new credit card holder and of course for those who has good credit history as well. The American Bureau Services Online can really help you out. From no credit, fair credit up to good credit. So, what are you waiting for? Improve your Credit Eligibility NOW!

Well, I hope I was able to help you out in your credit problem.

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