Positive Things about Credit Cards to Look Out For!

When it comes to credit cards and credit card companies, everyone has their share of complaints but these cards have become a primary part of our society. Here’s a look at the few good things about credit cards:

• They help build good credit

When used in a proper manner, credit cards can help you build a positive and strong credit history that lenders consider less risky.

• They help rebuild damaged credit

Even if you have made major credit mistakes, your credit cannot be bad always. You can easily begin rebuilding your credit by utilizing a credit card. Credit cards like Citibank credit cards are designed to suit the multiple needs of customers. One can select from credit cards that let them earn reward points and cashback.

• Creditors can’t hide things from you

No doubt creditors inform other creditors about how you have paid your bills, you still possess the ability to view that information. You can order a copy of your credit report and find out about what your creditors are talking about your payment and spending habits.

An Introduction To Citibank Credit Cards

Citibank is one of the leading card issuers who is offering a wide range of Citibank credit cards. These cards are appealing to all types of consumers and have countless benefits. There are various rewards one can earn with Citi credit cards. A user having such credit cards can earn bonus point rewards, gift vouchers, cashback and so more. A Citibank credit card is a perfect companion, no matter one is planning for a vacation or just wants to shop for grocery items.

A user can also earn exclusive benefits while spending on everyday purchases, shopping, etc. Citi Credit Cards also comes with an easy EMI option that helps fulfill all your dreams. To get the Citibank credit card that aligns closely with your lifestyle, you need to compare each card along with their features. This helps you get the right credit card and helps keep your financial life on track.

Citibank credit score: A prerequisite for obtaining a Citibank credit card

For owning a Citibank credit card one needs to be eligible with a decent Citibank credit score. The credit score is the range depicting one’s level of debt. They are usually three-digit numbers ranging between 300-850. One’s credit score will be taken care of while opting for a new Citibank credit card.

 


Higher the credit score, better will be one’s credit resulting in a lower rate of interest on Citibank credit card. It is recommended that, along with fulfilling the other eligibility conditions, the score should fall in the category of “good” to “excellent” to have a go through for the Citibank credit card. The other requirements for becoming eligible for Citibank credit card are :

• The prospective owner must be aged 21 or 18 years with parent’s consent or have a valid source of income.
• Must possess a social security number
• Have all legal and valid document proof for the name, date of birth and residential address
• Have a constant source of income
• Have all Employment records (if any)
• Must show Present Value of the collaterals (if any)
• And previous associations with Citibank (if any)
• As the Citibank credit card application is dependent on various requirements, the reason for denial can only be known by sending an application. If obtaining a low credit score is the reason for rejection, then it can be resolved by increasing the credit score. This can be done by:
• Paying timely bills
• Leaving no credit balances
• Reporting any discrepancies on the credit report
• Avoiding any further debts, etc

The above steps might involve a few months but will help in improving the credit score for the reapplication of the Citibank credit card.