Banks like customers who charge a lot on their credit cards, but only if they have the income to pay it off.If you have a great credit score but don't earn much, banks are going to think twice before giving you their best cards. Even with perfect credit, you could still have trouble making payments if you don't make much money in the first place.
That's why you're asked to include your income and job title on a credit card application, said Papadimitriou.
"Your FICO score might be excellent but no one would be willing to approve you because you're income is low or you're full of debt compared to your income," said Papadimitriou.
These 7 credit cards are the superheroes of the banking world, say industry experts, providing low fees and sane rates to people trying to build or repair their credit. More
|Why Thomas Friedman issued a 'code red' warning to America|
|AT&T names first three cities to get its ultra-fast 5G network|
|The U.S. is picking a fight with its biggest creditor|
|The unwitting: The Trump supporters used by Russia|
|Newsweek publishes critical piece on company after staffers threaten to resign|