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Finance > How to Qualify for a Good Platinum Credit Card
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Article rating : 0.00, 0 votes. Author : kenneth james
Everyone likes to pull out that flashy silver and black card
that shows their status in society. Even though the name suggests
only a millionaire can have one, they're actually not that
hard to get. The 2 main things that have to be done are improving
your credit score and establishing credit.
Your FICO, or Fair Isaac Corporation score should be around
600+ to qualify for a good card. The companies aren't looking so much
for high salary as much as they are looking for a good stable paying
history. After all, this is where they make their money. Someone
who carries a balance and pays more than the minimum payment is more
valuable than someone who doesn't let interest accrue. So the best
thing you can do is add a couple dollars to your minimum payment
on your current card and do this consistently over the course of a
year. Every time you do this, the credit card company reports this
to FICO and your score increases a small amount. You can check your
credit score in the main menu of your online account. If you don't
have any cards yet you can check it on different programs online
through a search for free credit report.
Establishing credit is also important. I would suggest getting
a fair credit credit card to start with to build your credit. The
interest rates can be kind of high and the limits are low but it
doesn't take long for the larger cards to see your record and start
sending you offers. Even though it can be tempting to use your entire
limit, I would also suggest you only use about 30 percent of the
starter card to keep your revolving credit low. This is the amount that
someone owes which is also something the card companies track.
If you can do these 2 simple things, it should take you no time at
all to get your score up and qualify for a good card. I have included a link
to a site which offers a good fair credit card to start with if you have
been denied a platinum offer. There are also some very good offers for
those with established credit histories. The bottom line is to keep balances
low and payments high and you'll qualify for any card you want.
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