Everyone Can Use Credit Card Rewards

By Author: Alisdair Cosgrove
Total Articles: 184
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A common misconception many people have, is that those who have bad credit will not be able to get access to credit cards with high credit limits. This is not always the case, while credit scores are an important piece of information used to decide what credit limits to offer a given borrower.

There may be other factors that may have some relative importance as well, and if you examine these factors and use them to prepare for your application, you may just get a higher limit credit card.

When a credit card company is assessing your potential credit limit, they will also consider your income level and this alone may be a major factor at the beginning of the determination process. A second factor for consideration by the credit card company may be your previous credit history, and you are more likely to receive higher credit limits with companies where you already have an account.

There are some other variable factors which are not easily controlled, but they can also still be used for your benefit when you understand how they work. For instance, one can contact multiple credit card companies and knowing ...
... how competitive the credit card market is, inform one company about another company's available credit limits. Most companies will then make an effort to improve upon previous offers.

On the other hand, if you are okay with paying higher interest rates, you can find some good deals on the internet to secure the high limit credit card you were looking for.

The applicant's ability to repay a debt is what credit card limits are based on, so this is the reason that income is an important factor for determining how much money can be borrowed on a line of credit. Letting the lender see that you have enough of an income to get a higher credit limit.

If your source of income is difficult to prove, as in the case of some self-employed workers, then you may want to find out what credit cards, lines of credit, and other loan products will allow the applicant to provide a stated income. In these cases, the lender will consider the amount of money declared on the application instead of making requests for tax papers or copies of paycheck stubs. It can be an effective solution for people whose income may differ each month (or week) like those who work for commission.

While this may be the most important factor on credit card applications, you may also consider a different approach to find a high limit credit card; simply shop around and compare what various companies are offering. Be sure that you request different quotes and compare the rates and the credit limits; it will require finding the right balance of benefits, but you can find something with a little research.
Alisdair Cosgrove is a freelance writer specializing in personal finance. You can read more of his work at www.JSNet.org for best credit cards and also offers a comprehensive list of gas credit cards.