Credit cards are a quite convenient option as compared to debit cards. This is because they enable you to transact easily without the need of carrying cash in your pocket which you could not enjoy using your debit card in which you need to maintain specific savings in your account to make the transactions. Not only this, but best credit cards also come with great benefits like attractive discounts, cash back offers and fuel benefits, etc. But most of the people have lots of misconceptions about credit cards regarding their eligibility, process, approval, etc.
Let’s have a look at some of the common myths:
1) Credit card application is a complicated process
It is not correct as nowadays most of the enders are accepting the application online, provided that you need to be eligible to get a credit card.
2) You need to be rich to get a credit card from your lender
You don’t need to be rich or wealthy to own a credit card. If you have a good credit score, you may apply for a credit card which is most suitable for you.
3) The eligibility parameters of credit cards are difficult to meet
To apply for a credit card, you need to have specific eligibility criteria to get a credit card. You need to have a minimum income and age of 18 or above. Also, you should have a good credit score.
4) A lot of documents are required while making its application
It’s nothing like that you have to submit lost of documents to avail a credit card. It’s just that you need to provide some set of documents to help lenders to evaluate your eligibility for the credit card like age proof, income proof, identity proof, etc.
READ MORE HERE: Common misconception about credit card process
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