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
|Invasive lionfish now on Whole Foods menu - sans poisonous spines|
|Verizon reaches deal with 36,000 striking workers|
|Donald Trump under oath: Trump University's promises crumble|
|Weighed down by characters, 'X-Men: Apocalypse' doesn't take off May 26|
|Google's plan to kill passwords|