Can I apply for a credit card if I have a high debt ratio? Here are three solutions

When applying for a credit card, banks will go to the central bank’s credit 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 risk of overdue is relatively high, and banks will naturally not be willing to approve cards.

In other words, a high debt ratio will have an impact on applying for a card. If you don’t want your card to be rejected, it is best to reduce your debt ratio before applying for a credit card. So, what should I do with a credit card if my debt ratio is too high?

Give you some suggestions:

1. Make a zero bill

The so-called zero bill means celebrating the money spent before the bill comes out, then Your credit card repayment amount for this period is 0, so the "debt" level in your letter will be very low. It should be noted that relying on one or two periods of zero bills will have little effect on reducing the debt ratio. It is best to have zero bills for six consecutive months.

2. Apply for installments

By applying for credit card installments, the true debt ratio can be hidden. The more installments there are, the deeper the hiding. For example, if you have a debt of 20,000 this period, apply for 36 installments, and then spread the 20,000 to repay each month, then your credit report will not show a debt of 20,000.

3. Cancel credit cards that are not commonly used

We all know that when banks issue credit cards, they need to consider the total credit limit of the applicant to avoid excessive credit. If a person's credit report shows too many cards, the bank will think that your actual financial ability does not match your repayment ability, and there is a certain repayment risk.

It is recommended to cancel some infrequently used credit cards before applying for a card, and control the number of cards and the total credit limit within a reasonable range, preferably around 5.

The above is a timely introduction to "Can I apply for a credit card if I have a high debt ratio?" All in all, if your credit card debt is too high, it will be 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 your credit card debt ratio.

Should I check my debt when applying for a credit card? Here's what you can do if you have high debt

When applying for a credit card, the bank will not only look at the applicant's credit report, but also assess the applicant's repayment ability and meet certain requirements. Debt is also one of the factors that affects repayment ability. So, is debt important when applying for a credit card? How to get a credit card if you have high debt? Let’s take a look below.

Does debt matter when applying for a credit card?

This is for sure.

Credit reference 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, so banks will definitely be cautious when approving cards. After all, if a card is approved for a person with high debt, if the repayment ability is not good, it is easy to be unable to repay the loan after overdraft consumption, and the bank will naturally not easily approve the loan.

As for what is considered a high debt situation, banks usually use the formula: debt ratio = (minimum monthly credit card repayment amount + monthly loan repayment amount)/your monthly income to judge the applicant. A debt ratio of 70% is considered high debt.

Methods to apply for a credit card if you have high debt:

1. Reduce debt: Pay off the loan/credit card debt that is listed on your credit report as much as possible. If you don’t have any money, you can borrow it from relatives and friends. Money cannot be paid off at once. It is best to pay off high debts, but do not pay back cards with cards or loans with loans. Otherwise, the fundamental problem will not be solved, and you will fall into an endless cycle and increase your debts.

2. Provide proof of financial resources: Cardholders can provide sufficient financial proof materials, such as large bank deposit certificates, cars and real estate, etc., to let the bank know that you have strong financial strength and can also If you have strong borrowing ability, the bank may approve the card.

3. Find a bank with low threshold: Banks of different natures have different requirements for applicants’ debt situation. For example, the four major state-owned banks value the applicant’s financial ability most. Those with high debt will definitely not be able to apply for a card. You can choose some joint-stock commercial banks, such as China Merchants Bank, Minsheng Bank, etc., which are relatively loose.

4. Find someone to guarantee: You can find a high-quality cardholder from the bank to guarantee you.

The above is the relevant introduction of "Is debt important when applying for a credit card?", I hope it will be helpful to everyone.

In short, friends with high debts are very likely to be rejected when applying for a credit card, so it is best to reduce debt through the methods introduced above before applying for a card.

Can I apply for a credit card if I have a high debt ratio?

When applying for a credit card, it depends not only on the applicant’s personal credit score but also on whether the applicant’s debt ratio is high. If the debt ratio is high, the risk the bank will bear will be greater. In order to avoid risks, the bank will look at the applicant's repayment ability before deciding whether to approve the card. So can I apply for a credit card if I have a high debt ratio?

1. Screen banks: Different banks have different standards for reviewing debt ratios. Some cannot exceed 70%, some cannot exceed 50%, and some cannot exceed 30%. If your debt ratio is as high as 50%, at this time, you should avoid this type of bank and choose a bank with a lower threshold.

2. Make preparations in advance to reduce the debt ratio: first, you can cancel the credit cards that are not commonly used, and then spread the high debt bills in installments to make your monthly consumption more stable, thus Reduce debt ratio. In addition, you can also try to repay the loan appropriately in advance, use some of the free money in your hand to repay the loan, and wait until the credit card application is completed before using it. At the same time, stay away from small online loans for half a year.

3. In short, if your credit card debt is too high, it will be difficult to apply for a new card or loan. In other words, a high debt ratio will have an impact on credit card applications. If you don’t want to be rejected when applying for a card, you must reduce your debt ratio and maintain a good card usage record before applying for a card. This will increase your The success rate of card application.

The above is the relevant content about applying for a credit card with a high debt ratio. I hope it can help netizens.

What to do about credit card debt?

Hello, I am Brother Runxi who only speaks the truth.

I can only say that it is normal to have credit card debt. When you urgently need money and have not yet found it, there is no problem in using credit card money to save money.

We must first affirm the concept that no matter how you borrow money or where you borrow it from, you have to pay it back. It is natural to pay back the money! As long as we are able to pay back the money, that’s fine.

As the saying goes, helping people in need does not help the poor. This involves the concept of money and borrowing money. What your own perspective is is particularly important at this time.

Credit card debt is not terrible, we must have the courage to bear it. If you are frightened by these liabilities, there will be no chance for a comeback. No matter how courageous we are, we must also have the ability to make money. Don’t give up and use your best ability to pay back the money! One thing to note here is that you must not break the law, commit crimes or gamble. If you choose to gamble, you will fall into the abyss and be unable to extricate yourself. If you choose to commit crime, you will lose your freedom. This is not what you want to do.

Hello, card friends.

According to Lao Li, credit card liabilities can be divided into benign liabilities and malignant liabilities.

Good debt

It means that you use credit card funds to leverage the scale of your business, using low-cost credit card funds to run your business better and start a new one. steps.

Malignant debt

It means that you use credit cards to consume in advance, causing your income level to fail to keep up with consumption levels. You use credit cards to repay credit cards, and use online loans or ++++ to repay them. Credit cards, causing the hole to get bigger and bigger. Reaching a critical point will be the straw that breaks the camel's back.

Since the questioner raised this question, he has already realized the seriousness of this problem.

Lao Li suggested:

1. Estimate your overall total debt. If you have credit card debt and ++++, give priority to paying off ++++ first. Qing, because the annual interest rate of small loans is usually about 15%-25%. Compared with the annual interest rate of credit cards, which is about 4%, the interest alone will eat up your income.

2. When formulating a repayment plan, be sure to set a goal, such as how much money it will cost to repay the principal each month.

3. Seek external help, mainly parents, confess and be lenient, obtain funds, and use funds in exchange for time.

4. Make good use of the credit card in your hand to achieve loss-free use and reduce usage costs. And participate in credit card activities to reduce usage costs evenly. It would be better if you raise the amount and it can be used as a fund reserve after you pay it off.

5. Increase revenue and reduce expenditure. If you are a normal ordinary person, while working, ++ part of the work. Although the pressure will be greater in the short term, you must persist.

If you can't help smoking, don't drink.

6. Develop good living habits and don’t overdraw in advance.

7. Cherish your credit report. Your credit report is like your own feathers. I hope you can protect it.

Lao Li is also a person with a credit card debt of 300,000, and he is also working hard to live.

I hope your life will get better and better, and the difficulties are only short-term, come on!

I am Lao Li Shuo Ka, your little credit card helper. If there are any deficiencies in my answers, please criticize and correct me.

The first thing that needs to be clarified is what impact credit card liabilities (overdue) have on cardholders. Generally speaking, there are two major impacts: First, the card issuer will charge the cardholder penalty interest, late fees, etc. for overdue repayment after the cardholder is overdue (there may be a grace period of one to three days). The interest rate for penalty interest and late payment fees is generally around 0.05% per day, which translates into an annual interest rate of 18%, which is still very high. Second, the card issuing bank can enter the cardholder's breach of trust record into the personal credit reporting system of the Credit Reporting Center of the People's Bank of China. This affects the cardholder's personal credit score. If there is a problem with the cardholder's personal credit report, the cardholder may be restricted in various matters such as bank loans and bidding, which may have a huge adverse impact on the cardholder's life and work.

Therefore, if the cardholder is unable to repay the debt in one lump sum in the current period after the credit card debt is overdue, he can negotiate with the card issuer to repay in installments. In fact, all credit card issuing banks now welcome cardholders to repay in installments. Because cardholders choose to repay in installments, the card issuer can earn more interest income. The second point is that if the cardholder is really unable to repay the loan (all at one time or current installment), he should actively negotiate with the card-issuing bank to avoid the card-issuing bank from entering the cardholder's personal credit information into the central bank's database. Personal credit reporting system. This affects the work and life of cardholders.

First, control the interest cost

Be sure to control the cost of interest and card processing fees. The installment financing cost of a credit card is about 0.7%, and the card processing fee is 0.6%. It is a compromise. , which is probably around 0.7%. Of course, many people don’t understand the minimum repayment, and if there is overdue penalty interest, the monthly interest is generally above 1.5%. For credit cards, this is also a hidden network. If you take a loan, the loan behind a credit card is generally above 0.75%. In short, bank loans are the lowest. Basically, as long as you are not too pedantic, you can control the monthly interest within one point. Then, the interest rate for online loans is generally around 1.5%. For example, there are many small loan institutions or installment financial platforms such as Weilidai. The monthly interest rate is generally more than 2%. Nowadays, the national supervision is relatively strict, and the interest rate is generally controlled at 3%. Within the limit, but many institutions will add so-called insurance or other fees, and the interest will rise. Needless to say, for private loans, the minimum is above 3%, and 5% interest is also relatively common.

The second point is to be serious about your debts

Many people tend to drink poison to quench their thirst for debts, tear down the east wall to pay for the west wall, borrow high interest rates and make up for low interest rates. There is room for survival, but if you do this, you will ruin yourself. Moreover, there are all kinds of intermediaries on the market. Many people have already lost, at least the bottom line of making money, and they don't care what happens to you who are in debt. As long as they can complete their own performance and realize their own profits, it actually doesn't matter to them whether their customers live or die. Many people will be afraid of being in debt. Many people are also slowly realizing the importance of credit reporting. When it comes to credit reporting, Choose one of life and life, what will you choose? Most people will choose credit reporting. This is the financial legal effect, so they keep borrowing +++ to repay the bank money. In the end, countless people are forced to a dead end. I don’t want to say more here. What, just to put it bluntly, it is better to live than to die, right? There are many examples in the newspapers of college students borrowing online loans and jumping off buildings. I don’t know what they think. Is it worth ending their life like a flower just for the sake of tens of thousands or hundreds of thousands of arrears?

The third point is to increase revenue and reduce expenditure

With a salary of 3,000 a month, a debt of 50,000, a salary of 10,000 a month, and a debt of 300,000, that salary Excluding basic living expenses and monthly interest costs, how can it be possible to repay the principal of the debt? I believe many people are facing such a situation now, but many people dare not face it.

Everyone is familiar with the third point. This open source is to make more money and increase income. Only in this way can we pay off our debts. Otherwise, the interest of financial institutions may not be paid in our lifetime. Everyone has everyone's circle, and everyone has everyone's circle. No matter how you persist in your personal way of making money, it is inevitable. How to persist? How to make money? Everyone has their own way to achieve benefits without investing or investing less. I believe that everyone is eager for money-making projects. Money-making projects all require time and accumulation. They all need to persist and do the industry they are most familiar with. Follow the industry's best professionals.

The fourth point is to suspend interest payments and negotiate with the bank for repayment in installments over 3 or 5 years to avoid interest arising again. This process may be a tug of war, and generally the bank will not agree to pay you until the end. You can make super long-term installment repayments, but the bottom line of the bank is that you repay the money, so on the premise of repaying the money, the bank will compromise step by step.

The fifth point is that it is a crooked door. Keep digging. Now I owe 500,000 yuan and the debt ratio is 99%. I am looking for two people to apply for a 500,000 credit card. The total limit will become 1 million, and the debt ratio is 99%. It becomes 51%. The premise is that your current monthly income can cover the credit card processing fee and there is still a surplus. Otherwise, you will still have to hang up. This is a way of exchanging time for space, so be careful.

There is no right way to deal with the stress of credit card debt. In fact, the law has already stipulated relevant business provisions, and cardholders can reach personalized installment repayment agreements with banks.

This kind of interest-free negotiation can be divided into up to 60 installments. Stop-loss in installments is the most effective solution for cardholders facing debt pressure. Look for Zhou Li to avoid losing money [a flash of inspiration]

If your credit card debt is not very high, you need to work hard to make money or borrow money to pay off the credit card. Be sure not to repay it overdue. This will report your bad credit report to the central bank, thus leaving you with a long-term credit stain. The subsequent methods that will affect your own life may even affect the future of your children.

If the debt is slightly higher, it has exceeded your ability to repay. When the bill day comes, if you can't pay it off in time on your own in the short term, you need to consider credit card installments. Although you have to pay higher monthly installment interest, which will reduce your quality of life in the short term, in the end, it does not cause overdue payments, thus maintaining your good credit. In this trust-transparent society, people cannot stand without trust.

Of course there is the worst case scenario, where you try your best to raise money and make money, but still cannot repay, or even afford the principal and interest in installments. With no other way out, I thought I could only follow what my friend did: set up a machine myself and swipe my card to collect money. During this period, you should keep a calm mind and try not to carry too much ideological baggage, but you should still find ways to work hard to make money to pay off debts, whether it is working two jobs or ++. Remember never to give up on yourself and never become a deadbeat! You must strengthen your confidence, there is no obstacle that cannot be overcome, your mentality cannot be despairing, put down your dignity and work hard to make money, it’s that simple, other random thoughts are all nonsense! The reality is that there are tens of thousands of people in this world who are worse off than you! Remember: you are never alone in this battle! You have thousands of comrades! Because you have "backing", you are fearless and move forward courageously!

Give you some suggestions; pay off the first debt.

Second; apply for a few more cards and go back and forth.

Third: simply don’t pay it back, it’s an overdue account.

It is recommended to contact the bank to repay as soon as possible. The interest rate after the credit card is overdue is very high, reaching more than one point per month. You can first call the customer service number on the back of your credit card. Generally, you can deduct part of the interest. I wish you can pay off your bill as soon as possible.

Pay off your debt first, don’t overdo it, and first ensure a basic source of income before considering investment

Continue to buy the double-color ball. Sooner or later, you will win sooner or later. 2 yuan a piece Note, small investment brings big returns. Not only can you contribute a small amount to society, but you can also lock in a glimmer of hope for yourself.

What? With a debt of 200,000, can I still apply for a credit card?

Normally speaking, when banks review credit cards, they have to check personal credit reports. However, if you have too many credit cards and have debt records, and the bank will not approve them, will you never be able to apply for a credit card in this life? But you are really short of money, don’t worry, I will give you 3 tips so that you can successfully apply for the card even if you are in debt.

1. Apply for installment or cancel unnecessary debt accounts

1. Apply for installment if the debt on a single credit card is too high

If you just applied for it last month A 36-month cash installment of 200,000, then the debt on this credit card should be 200,000. After applying for the installment, the 200,000 will be spread over 36 months to repay. As for the monthly bill, you only need If you repay the principal + handling fee, the credit report will not show a debt of 200,000. When you apply for installment, your true debt is hidden. The more installments you have, the deeper it is hidden. Therefore, if you have too much debt on a single credit card, you can apply for installment in advance, and your credit report will not have that much debt.

2. Cancel credit cards that are not commonly used

Every card player has many credit cards, but having too many cards is not a good thing, because the credit report will show Show every debt you have with the bank. If the credit report shows too many debts, the bank will doubt your repayment ability and refuse to approve the card. So if you have a lot of credit cards that you don’t use frequently, 99 Jun recommends that you cancel the ones you don’t use frequently.

2. Adjust the order of applications

Some cardholders will want to apply for another credit card or loan when they are short of money. Some banks will reject your credit card application if they find that your credit report has been checked by the loan company more than three times within six months during the credit card review. Therefore, if the bank is reviewing your credit card, it is best not to apply for a loan, and wait until the application result is available before applying for a loan.

Of course, credit card approval takes a long time, and some ++++ are approved very quickly. If you really need it urgently, you can download the real-time loan mobile APP. There are many types of real-time loans++ ++ product, simple procedure, fast payment. It can also quickly solve your financial problems.

3. Early repayment

This method is suitable for cardholders who can mobilize some cash on hand. Remember what was mentioned in the first method? The "pseudo debt" on your credit report is the bill repayment due in the last month. If you have some cash on hand, you can pay off the debt in advance before the bill comes out, so that the "debt" level in your letter will be very low. For example, if the 10th is the billing day, you can pay off the balance on the 8th and then pay it out on the 12th. You only need to transfer cash for 4 days, and what you get in exchange is a beautiful "liability" level on your credit report.

What should I do if I owe too much? If you have high debt, you can apply for a credit card like this!

Poor credit and low income are often the two major obstacles in applying for a credit card. However, many people have good credit and their income meets the card application requirements, but they are still rejected for credit cards. , the main reason is that they owe too much and the debt ratio is too high. So, how can such people with high debt get a credit card?

Before that, let’s take a look at how banks determine personal debt ratios.

When applying for a credit card, we will fill in the monthly income. When the bank approves the credit card, you can check the loan record displayed on the credit report, then divide the personal debt by the monthly income, and then see if the ratio exceeds 50 %, some banks are 30%. If it exceeds, it means the debt ratio is too high.

For example, if you apply for a credit card and enter an income of 5,000 yuan, and you have to repay 2,800 yuan a month for a mortgage, then your personal debt ratio is 56%. This situation is considered a liability in the eyes of some banks. If the rate is too high, it will be difficult to apply for a credit card.

So, if the debt is too high, how can I apply for a credit card?

1. Find a bank with low threshold

If you have high debt and apply for a credit card at a state-owned bank, 90% of the time you will be rejected. Even if you are not rejected, you may be approved for a 500 yuan food card. It's all possible.

So in this case, it is best to apply for a card from a bank with loose requirements, such as China Merchants Bank, China CITIC Bank, Industrial Bank, etc. These banks have a relatively high tolerance for debt. As long as the debt is The rate does not exceed 70%, and the success rate of card approval is still relatively high.

2. Reduce the debt ratio

High debt will affect credit card applications and credit card approval limits. Therefore, we must find ways to reduce the debt ratio. If you have money, you can pay large debts. If you can pay it back, you can borrow money to pay it back.

If you don’t have money, see if you can arrange large bills in installments and spread the debt evenly to each month. This can invisibly reduce the debt ratio;

3. Provide documentation proving financial resources

< p>A big reason why banks don’t approve cards for people with high debts is because they are worried that they won’t be able to repay.

So you only need to provide enough financial proof materials, such as large bank deposit certificates, cars and real estate, etc., to let the bank know that you are financially strong and have a strong repayment ability.

This ends the introduction on how to apply for a credit card if you have debt and how to apply for a credit card if you have high debt. I wonder if you found the information you need?