Monthly Archives: December 2019

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Credit cards for foreigners What are they?

A credit card is a financial product that allows you to obtain an additional line of credit and even allows you to finance purchases and defer payments made with that card.

It is for this reason that practically everyone needs to have a credit card, but can credit cards be requested for foreigners? We tell you everything you need to know.

Credit cards for foreigners What are they?

Credit cards for foreigners What are they?

Online credit cards for foreigners are a convenient way for all people to finance purchases using funds borrowed from the bank. In addition, with a credit card the holder can make instant purchases by phone, in physical stores, and even make online purchases.

Credit cards for foreigners are the same financial product as conventional credit cards, with the only particularity that in this case the holder will be a foreign person residing in Spain.

The cardholder (that is, the borrower) must reimburse the financial entity for what they have purchased, along with interest charges if they have a balance on the card. The balance of a credit card is the amount that the cardholder owes for unpaid purchases.

Let’s say you get a credit card online or through your bank. After one month, you have charged $ 1,000 on your new credit card, so the bank will send you an invoice of all purchases you made within the last “billing cycle” (usually a period of 25-30 days).

Can I request a credit card for foreigners?

Can I request a credit card for foreigners?

Yes, it is possible that you can apply for your credit card online, and there are even several entities that offer various financing methods to foreigners such as mortgages for foreigners, credit cards, loans for foreigners, and others …

Applying for a credit card for foreigners is a completely simple process. You can do it from anywhere, provided you have access to the Internet, since you only have to fill out an online application, wait for approval by the entity and then receive your credit card.

However, before requesting your credit card online we recommend analyzing the various financial institutions. You should take into account some aspects such as credit limit, payment methods, requirements and conditions.

Requirements to request credit cards for foreigners

Requirements to request credit cards for foreigners

✅ You must be 18 years old, that is, be of legal age.

✅ Have a residence card from Spain.

✅ Have fixed and verifiable monthly income.

✅ Do not appear on any delinquency list.

It is important to mention that the limit of your credit card will depend on your monthly income and ability to pay. For example, a person with an indefinite contract and high income will not have the same credit limit as a person requesting a credit card without payroll.

Advantages of credit cards for foreigners

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Credit cards for foreigners allow you to make large purchases and pay them in convenient installments. In addition, many online credit cards offer users reward programs, points or others that can be used at the time of purchase to obtain discounts.

They are necessary to make your purchases online, and they can even save you from any emergency. In addition it is also possible to request credit cards for trips and thus have financial support when you are on vacation.

Request your credit card and create your responsible credit profile, with this you will have the possibility of accessing various loans for foreigners with the best rates and incredible benefits.

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Maximize Credit Card Profits with These Methods

Using a credit card gives many advantages, you know . Starting from paying bills with 0 percent interest, to giving discounts or cashback in every transaction.

The advantages that are then attracted a lot of people have credit cards. Calculations, these benefits can save expenses.

Although it provides convenience and minimizes expenditure, the fact is that there are still those who fail to use it. In the end, they concluded that this non-cash payment instrument made the financial wasteful.

For those of you who want to have this card, there are several ways you need to know to maximize the benefits of this non-cash payment instrument. 

1. Choose the credit card you really like

1. Choose the credit card you really like

One of the considerations in choosing a credit card is that you have to know exactly what you want from this non-cash payment instrument. If confused, you can start from the benefits of what is expected.

Another story if you get a card whose annual fee is USD 200 thousand. Your initial intention to minimize expenses is a failure because of paying annual fees.

2. Apply for a credit card that offers more benefits

2. Apply for a credit card that offers more benefits

The average issuing bank offers a credit card profit that is more or less the same. However, the benefits provided are specifically different.

The point is different here, there are cards that are beneficial for dining . There are also cards that are advantageous if used for traveling .

This is where you have to find out more then choose which jelly card offers several benefits at once.

If you must have two cards for the sake of pursuing these benefits, choose a card that gives a small annual fee.

3. Perform routine transactions every month

3. Perform routine transactions every month

Once you have a credit card, don’t be unemployed. Routine transactions with cards every month make credit history on iDeb get a good score.

Just to note, a good credit score will help you later in applying for a loan to the bank. Because the credit score is a consideration for banks to approve or reject credit application applications.

In addition, card benefits, such as rewards or cashback are very useful to save on routine monthly spending. That is why transactions with a card are recommended for meeting monthly needs.

Let it not be too far, limit transactions to a maximum of 30 percent of your income. Don’t refer to credit card limits. Because it can make you potentially make minimum payments. In the end, because you don’t pay in full, your bill will be subject to interest.

4. Have a benefit when routinely used

4. Have a benefit when routinely used

Regarding point number three, find and get a credit card that gives benefits for routine monthly shopping. Because the routine monthly spending is usually associated with meeting basic needs every month, look for a card that offers these benefits.