Credit cards have become a part of daily financial transactions for many people. These cards offer you the chance to honour your financial commitments if you are short on cash. The credit cards also come with rewards and cashbacks on transactions at different merchant outlets.

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If you are planning to apply for a new credit card several factors could impact the approval of your application.  If you want to opt for this payment method, there are some techniques that can help you get the best possible credit cards in the market. This includes maintaining a good credit score and having a healthy credit history.

Take a look at some techniques that will help you get the best credit cards available in the market.

Research the best credit cards in the market

Browse the best credit cards available and compare what they are offering in terms of cashbacks, rewards points, and other offers. This can help you realise which cards will be the most suited to your needs.

Put in a strong credit card application

Many credit card applications are rejected because they do not meet the eligibility criteria. In order to ensure your application passes the bank’s checks, put in all the relevant documents such as your credit score, salary slip, bank account statements, details of loans/other credit cards taken etc.

If you fail to submit these documents, your credit card application will be rejected.

Ensure your credit score is good

Your credit score details your financial history and history of payments. A credit score of 750 and over is considered good if you want to opt for credit cards and loans. To make sure you get the desired credit card, you should keep your credit score up. You can do this by reducing any outstanding debt and paying all bills on time.

Maintain a good credit utilisation ratio

Credit utilisation ratio is the amount of credit you are using out of the total available to you. A good credit utilization ratio is 30 per cent or less, meaning you should use 30 per cent or less of the total credit available to you. This will demonstrate your financial prudence.

Pay your bills on time

Pay your debts, loan instalments and other bills on time. This will ensure your creditworthiness and help you maintain a good credit score and you may get better offers on credit cards.