2006-07-23 08:51:43 · 4 answers · asked by its me a 1 in Business & Finance ➔ Credit
Oh they give people credit cards with no credit history. How do you think they stay in business? I wouldn't get one though. I got one when I was like 20 and it only gets worst. Use the power of cash and use a debit card, looks like a credit card but better...lol
2006-07-23 13:10:00 · answer #1 · answered by NOVA50 3 · 0⤊ 0⤋
Your income tax is proof of not much at all for a credit company.
You should start by going to http://www.annualcreditreport.com
Federal law mandates you are allowed to a free report from each of the 3 credit bureaus every year. You can get all 3 at once, or you can track your credit closely by getting one bureau at a time every 4 months. Right now, get at least one, and you will be able to see what your credit history shows.
That, and your employment status, will determine what kind of a credit card you can get. Don't forget with little history and possibly a low-paying job, or if you're not employed, you may end up with a credit card that has a low limit and a high interest rate.
Do not run the card up unless you have the cash to cover the purchases! I know it sounds stupid, but never spend more on the credit card than you can afford to pay off every month. You do not want to carry a balance on the card, because if you do, you will be hit with that high interest rate, and it may take a LONG LONG time to pay it off, and it will hurt your credit rating. Use a credit card like deferred cash. Always always pay it off in full every month. Do this, and you will increase your credit rating tremendously. What will also help is paying off student loans on time, and paying all your bills on time.
If you are a student, try getting a card aimed at students. They often have some nice perks like discount plans and whatnot that may be useful.
Good luck!
2006-07-23 16:06:52 · answer #2 · answered by agentdenim 3 · 0⤊ 0⤋
It will depend more upon your existing credit history (if any), time at residence, time at job, etc... Proving your income generally isn't an issue to obtain revolving credit.
2006-07-23 15:56:07 · answer #3 · answered by Adios 5 · 0⤊ 0⤋
Chances are still high if income tax show tat annual income is SGD30,000 and above.
2006-07-24 07:16:38 · answer #4 · answered by Joseph S 1 · 0⤊ 0⤋