Yes, banks and financial institutions issue credit cards to qualified individuals. When someone applies for a credit card, the issuing institution evaluates the applicant’s creditworthiness to determine if they meet the necessary criteria for approval. The qualification process typically includes several factors:
Credit Score: One of the most critical factors in determining credit card eligibility is the applicant’s credit score. A higher credit score indicates a history of responsible credit use and makes it more likely for an individual to be approved for a credit card.
Income: Credit card issuers often require applicants to have a stable source of income. A higher income can increase the likelihood of approval and may also impact the credit limit assigned to the card.