Posted: Thu Apr 19, 2012 11:01 pm Post subject: Credit Card - Am I qualified?
Hey y'all,
Would appreciate feedback from those of you who know about credit card requirements here.
I've never had a credit card since I first moved here. (Had one when I was back home). So am not sure what the requirements are to apply for one.
- Am 28, working part-time, earning €984/brutto - €842/netto monthly.
- NO credit, personal loan, housing loan, car loan or whatsoever.
- Not paying rent (Hubby bought the apartment).
Easiest thing to do is go to you bank and ask for one...
I know I had a major problem getting one as a self employed person. 2 months after getting a job they gave me one with a 3750 EURO Limit. I think at the time they told me the minimum Salary was 800 per month.
Joined: Jun 05, 2011 Posts: 54 Location: 13th District
Posted: Fri Apr 27, 2012 1:30 pm Post subject:
Toni_Me wrote:
I am thinking of applying one too, since it makes it easier for me to book flights.
Another qs is, does one allowed to have cash out from the credit card. And what is the term of payment here for credit card? e.g. Minimum amount?
I make around €1900/month netto and have 3 cards
Sparkasse Mastercard(my bank)
Credit limit €3,000
Can 'cash out' up to the entire credit line
Pay in Full every month
American Express Blue
Credit Limit €5,000
Can 'cash out' up to €300/month
Pay in Full every month
CardComplete Bank Visa
Credit Limit €1,500
Can 'cash out' the entire €1,500
Pay 10% of balance every month, min €100
The first card granted to me was my Amex card when I moved here last year. I was making €1400/Netto and they gave me the 5K limit. I assume this is because I used their "Global Transfer" service to transfer my USA amex card to Austria, bringing my credit history with it
Next card I got was my Sparkasse Visa. I simply wrote an email via online banking to my bank advisor and it was in the mail in 5 days. Nothing to it.
Last card I got a few weeks ago. I did this by emailing someone at cardcomplete telling them I wanted a card issued & backed by them. They gave it to me no questions.
My experience has been relatively easy with getting cards here.
My last and final card I'm going to apply for is the Wine & Co Diners Club card. It's free, and gives you 5% off your purchase. plus you get that 10% off voucher at the end of every drinking session, so it really saves a lot. This is also a Pay in Full card.
Banks use different risk management strategies, they are quite complicated and are based on a combination of factors, such as age, income, history, marital status, gender, employment, etc. etc. - there can be dozens of these factors and combinations. Therefore, it is impossible to make a blanket statement and predict who is qualified and who is not. You have to submit your documents and they will calculate your credit (as FICO) score, based on which they will give you an answer. You can submit to various banks and receive different offers.
But I would not recommend getting into debt. Credit cards are a vicious circle. Unless you repay the whole amount every month, in which case it's more of a conveninece card rather than a credit card.
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