After applying for a credit card, the bank will check the credit information when approving it. In addition to checking whether the applicant's credit is good, it will also evaluate the applicant's debt ratio. If the debt is too high, the repayment ability will be discounted and the credit card approval rate will be reduced. However, it doesn't mean that you can't get a credit card with high debt. There is a way.
1. What is high debt?
The debt ratio inquired by our bank is calculated as follows:
According to all liabilities (including credit cards and loans)/(income base), the credit card debt ratio is generally calculated according to the credit card used amount/available amount. It should be noted that the credit card debt ratio is real-time and will be seen when the bank approves it.
Once the debt ratio is above 50%, it means that the debt is relatively high.
Second, how to apply for a credit card with high debt ratio
The most basic principle is to apply for a credit card at a bank outlet, and then provide more proof of income and assets to prove your repayment ability, so as to improve the credit card pass rate:
1, good credit.
Debt ratio is one of the reference factors for banks to approve credit cards, but reputation is also very important. A white credit user or overdue loan user will be rejected in minutes without looking at the debt ratio, so it is very important to develop good credit.
2. Appropriate credit card
The credit card threshold of each bank is high or low. For the first application, you can choose the one with low threshold and easy passage, and the card issuance rate will be higher, and you will also accumulate certain circulating credit. Then you can apply for a credit card from this bank next time, or apply for a credit card from another bank. The amount will be higher and it will be easier to approve the card.
The above is the introduction of "How to handle a high-debt credit card", hoping to help everyone.
Can I get a credit card if I have too much debt? Master these methods.
Friends who have made credit cards should know that personal debt is one of the key reference factors for banks to approve credit cards. Nowadays, consumption in advance is popular, so it can be said that few people are not in debt. It is common for people who borrow money to apply for credit cards. When they want to apply for a credit card again, they will consider "Can they still apply for a credit card if they have too much debt?" Let's briefly introduce it today.
Can I get a credit card if I have too much debt?
Although applying for a credit card does not require mortgage guarantee, and there is no mandatory rule that there can be no debt, banks generally require the applicant's debt ratio, and will estimate the applicant's debt situation in combination with the applicant's income and outstanding debt in credit information. For example, if the debt ratio exceeds 50%, the applicant's debt will be higher, which will be considered as insufficient repayment ability and more difficult to approve the card.
To this end, if you have too much debt, you need to apply for a credit card. First of all, you need to improve your personal qualifications and minimize your personal debt. If you have good connections, you can ask someone to borrow money to pay off your debts first, or you can spread the large debts equally every month, but it is best not to repay the loans with loans or raise cards with cards. If you reduce your personal debt to less than 50%, the pass rate of getting a card will be higher.
However, if you can't do anything about the debt, it is suggested to start with some banks with relatively loose conditions, such as China Merchants Bank, Xingye, Minsheng and other commercial banks, and choose the appropriate card handling channel, that is, online card handling or offline card handling.
Online card processing wins in speed, but you can't provide data proof online. If you have too much debt, if you have good big data on some third-party platforms and cooperate with banks to provide credit card application channels, you might as well try it. For example, big data such as Meituan, JD.COM and Alipay are also bonus items.
It's a bit slow to get a card offline, but you can go to the outlet to get a card. In this way, the applicant has proof of assets, such as a house, a car, and some certificates of buying small funds and small investments, which can reflect the applicant's economic strength from the side and make the bank feel that it has the ability to repay.
The above is "Can I get a credit card if I have too much debt?" I hope it will help everyone.
Can I apply for a credit card with high debt ratio? There are three solutions.
When a bank handles a credit card, it will go to the central bank's credit information system to check the applicant's credit status. In addition to checking whether there is bad credit, they will also check the applicant's debt status. After all, for banks, if a person's debt ratio is too high, his overdue risk is even greater, and banks are naturally reluctant to approve cards.
In other words, the high debt ratio has an impact on the card. If you don't want to be rejected, you'd better reduce the debt ratio before applying for a credit card. So, what about credit cards with excessive debt ratio?
Give you some advice:
1, making 0 bills.
The so-called zero bill is the money spent before celebrating the bill, so your credit card repayment amount in this period is zero, so the "debt" level in your newspaper will be very low. It should be noted that one or two small notes have little effect on reducing the debt ratio, and it is best to keep small notes for half a year.
2, used for temporary storage
By handling credit card installment, you can hide the true debt ratio. The more stages, the deeper the concealment. For example, if you have a debt of 20,000 yuan in the current period, handle 36 installments, and then spread the 20,000 yuan evenly to repay it every month, so that your credit report will not show the debt of 20,000 yuan.
3. Unused credit cards should be cancelled.
As we all know, when issuing credit cards, banks need to consider the applicant's total credit line to avoid excessive credit. A person's credit report shows too many cards, which will make the bank think that your actual economic ability does not match your repayment ability and there is a certain repayment risk.
It is suggested to cancel some credit cards that are not commonly used before handling cards, and the number of cards and the total credit line should be controlled within a reasonable range, preferably around 5 cards.
The above-mentioned "debt ratio is high enough to apply for a credit card?" . In short, credit card debt is too high, and it is difficult to apply for a new card. Therefore, if you want to apply for a card without being rejected, you can refer to the above three methods to reduce the credit card debt ratio.
Apply for a credit card to see the debt? You can do this if you are heavily in debt.
When applying for a credit card, the bank will not only look at the applicant's credit information, but also evaluate the applicant's repayment ability and requirements. Among them, debt is also one of the factors that affect repayment ability. So, do you value debt when you apply for a credit card? What about high-debt credit cards? Let's have a look.
Do you value debt when handling credit cards?
That's for sure.
Credit investigation and repayment ability are the two most important points for banks to approve credit cards. As mentioned earlier, high debt will affect the repayment ability, and banks will of course be cautious when approving cards. After all, if you give a card to someone with high debts, if the repayment ability is not good, it will easily lead to the situation that you can't afford it after overdraft consumption, and banks will naturally not lend easily.
As for what is high debt, banks usually judge the applicant through a formula: debt ratio = (minimum monthly repayment of credit card and loan)/your monthly income. If the debt ratio is 70%, it is high debt.
How to deal with high-debt credit cards;
1. Debt reduction: Pay off the loan/credit card debt on the credit card as much as possible. If you have no money, you can borrow money from relatives and friends, and you can't finish it once. It's best to pay off the high debt, but don't pay back the card with the card, otherwise the fundamental problem will not be solved, and it will fall into an infinite loop and increase the debt.
2. Provide financial proof: the cardholder can provide sufficient financial proof materials, such as large bank deposit certificate, automobile products, real estate, etc., to let the bank know that your financial strength is relatively strong and your repayment ability is leveraged, then the bank may also approve the card.
3. Find a bank with a low threshold: different banks have different requirements for the applicant's liabilities. For example, the four major state-owned banks value the applicant's financial ability most. If the debt is high, you will definitely not get a card. You can choose some joint-stock commercial banks, such as China Merchants Bank and Minsheng Bank, which will be relatively relaxed.
4. Find someone to guarantee: you can find a high-quality cardholder of the bank to guarantee yourself.
The above is "Do you value debt when you run a credit card?" I hope it helps you. In short, a friend with high debt is likely to be rejected when applying for a credit card, so it is best to reduce debt through the above methods before applying for a card.
What if you owe too much? High debt can also do this!
Poor credit information and low income are often two major obstacles on the road to credit card application. However, many people have good credit and their income meets the requirements for card processing, but they are still refused to apply for credit cards, largely because of too many debts and high debt ratio. So, how can such a highly indebted group get a credit card?
Before that, let's take a look at how banks judge personal debt ratio.
When applying for a credit card, we will fill in the monthly income. When approving a credit card, banks can check the loan records shown in the credit report, and then divide the personal debt by the monthly income to see if the ratio exceeds 50%, and some banks are 30%. If it exceeds, it means that the debt ratio is too high.
For example, if you apply for a credit card, your income is 5,000 yuan, and you have to pay back 2,800 yuan every month for mortgage, then your personal debt ratio is 56%. This situation is too high in the eyes of some banks, and it will be difficult to apply for a credit card.
Then, if the debt is too high, how can I get a credit card?
First, find a bank with a low threshold.
If you go to a state-owned bank to apply for a high-debt credit card, 90% will be rejected. Even if it is not rejected, it is possible to give you a food card from 500 yuan.
Therefore, in this case, it is best to find a loose bank to handle the card, such as China Merchants Bank, China CITIC Bank and Industrial Bank. These banks are relatively tolerant of debt, and the success rate of card approval is relatively high as long as the debt ratio does not exceed 70%.
Second, reduce the debt ratio.
High debt will affect credit card application and credit card approval, so we must find ways to reduce the debt ratio. If you have money, you can pay off large debts and borrow money to pay them back. If you have no money, see if you can divide the large bills into stages and spread the arrears evenly every month, which can reduce the debt ratio invisibly;
Third, provide proof of financial resources
A big reason why banks don't give cards to people who are heavily in debt is that they are worried that they will not be able to repay them.
So you only need to provide enough financial proof materials, such as large bank deposit certificate, automobile production and real estate. Let the bank know that your economic strength is relatively strong and your repayment ability is leveraged.
This concludes the introduction of how to deal with credit cards with liabilities and how to deal with credit cards with liabilities. I wonder if you have found the information you need?