What are the requirements for purchasing credit cards?


 

What are the requirements for a credit card application?

What are the requirements for a credit card application?

Credit cards are becoming more and more popular, and not without reason, because they have numerous advantages. It is therefore not surprising that more and more people in Germany are applying for a credit card.

But not everyone is entitled to buy a “real” credit card (credit card) with all credit card functions, as some requirements are linked to the use of credit cards.

There are basically 3 requirements that must be met when applying for a credit card:

  • Age of majority
  • German residence
  • sufficient creditworthiness

The age of majority is therefore a selection criterion, since minors are not yet fully capable of doing business.

The place of residence in Germany plays a role because German banks only issue a credit card for liability reasons if this criterion is met. If you are resident abroad, it makes sense to find out about credit cards from local banks.

The credit rating is probably the most important selection criterion. Banks only issue credit cards if there is no negative Credit Bureau entry and there is sufficient and regular income or salary. The required amount of salary / annual income depends on the respective credit card. With premium or gold credit cards, of course, a much higher income is required.

What to do if a criterion is not met?

Do not worry, there is a suitable alternative for those who do not want to forego the advantages of a credit card, but are still minors or do not have the appropriate credit rating.

The prepaid card offers all the advantages of a credit card, but differs from the “real” credit card in terms of paying the bills. You have to top up the prepaid card to use it. If the loaded amount of money has been used up, money must be transferred to the prepaid card again in order to be able to pay again with the credit card.

This means that there is no risk of over-indebtedness and young people can be safely introduced to the use of money. For this reason, the prepaid card is partially available from the age of 13, is issued without a Credit Bureau query and does not require receipt of salary.

As you can see, there is the right credit card for everyone! Inform yourself in this forum, exchange ideas with other users and find your individual credit card.

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