Apply for low interest credit card

For most part applying for a low interest credit card is for all intents and purposes the same as applying for a regular credit card – a bit more complicated than for a debit card.


The difference in application from a debit card, is that:


You have to be at least 18 years old


You need at least some income and a proof for that


Either from employer

Either from your bank – your income for the last 3 months

Or/And from the tax office


The process itself is easy:


1. You need to read on what are the available low interest credit card subscription plans. Or if you don’t have an income, OR have a bad credit history – limit your search only to plans to which you can apply


2. You need to look into what are the pitfalls of each of those subscription plans.


3. You need to find your nationally available credit card issuer organizations (banks for most part)


4. You need to either check their website, call them or go to one of their branches to find out their available low interest credit card types. And I can’t stress this enough – be exhaustive about your questions, because exactly those conditions people are tired to understand – are the ones bank earn off the most.


5. When you think that you have found a card with conditions that suite you – check with the issuer the documents that are necessary to apply. (ID, of course)


6. You might have to get a statement from your employer, of your income. OR/AND Statement from the tax office, that you have a healthy entrepreneurial income. OR/AND if the issuer is not your current active account holder – than a statement showing your income (usually for the last 3 months).


7. Then you go to your local branch of the issuer, show the original documents that were needed. Also some rare banks offer the possibility to order a card online, but if you don’t have an account with the bank, you will still need to verify that you are a worthy applicant.


8.You will be asked to open an account if you don’t already have one. Press Yes.


9. Your documents will be copied, and sent for evaluation, or checked, approved or denied at the till.


10. Depending on how your documents are processed your identity will be checked by the bank for bad credit records in a unified national database, which in most European countries is maintained by the national bank, and is updated by all the active crediting organizations.


11. If you got so far, which you probably did – it is your turn. Before you sign any contract for ordering, accepting, or/and receiving your credit card, Scrutinize the bank about every little minor detail that is unclear about your credit card usage conditions. If the card is a low interest credit card, than it is most suited for people who are able to pay their bill on time, don’t exceed credit limit, and pay the bill in full. In turn to you getting a priority interest rate to pay back at the end of a billing cycle, you entangle yourself into some harsh rules, which if not pedantically followed will cost you in fines and changed interest rate.