Although credit granting policies vary, here are some basic criteria creditors consider when you apply for a credit card or other type of loan.
Your chances of qualifying for a credit card or loan increase if you have any of these:
$ No major blemishes on your credit report, such as a bankruptcy, nonpayment turned over to a collection agency, a repossession, or a 90-day delinquency.
$ Active accounts that show the information you have provided is valid. Creditors prefer that you have at least two active open accounts – one that has been active for at least two years with no late payments.
$ No recent late payment (late payments sometimes, but not always can disqualify an applicant).
$ A current (legal) address. Some issuers do not give cards to an applicant using a post office box or general delivery address.