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Is A Bank Account Required To Use A Credit Card?



In the modern world, many people have one or two bank accounts. Even if a person says that he or she does not have a bank account, it sounds odd. Moreover, bank accounts are not only for the sake of it, but they have their own benefits, for example, interest rate, locker facility, etc. However, credit card users do not find the opening of a bank account required. It depends on you, whether you want to have one or not. Apart from bank accounts, one of the other financial tools is the credit card. Credit cards are one of the payment methods that are widely used across the globe. Like bank accounts, credit cards also have their own benefits and perks.


How do I qualify for a credit card?

A credit card is a convenient financial tool, but opening a credit card account can be a little tricky. In order to apply for a credit card, you need to fulfill some of the basic requirements. The bank or the credit card issuer verifies some documents that can assure them that you are the right person, who can handle a credit card and its payments. You need to provide your basic information, to become eligible for a credit card, such as your date of birth, home address, driving license number, social security number, annual family income, etc. Also, you should be above 18 years of age, with an income and a credit history. However, some credit cards don’t require credit history and income as their prerequisite, for instance, secured credit cards.


Is a bank account required actually?

Coming to the imperative question – Is a bank account required to use a credit card? The answer to this is yes, you need a checking or savings account in a bank, in order to open a credit card account. Anyone who wants a credit card according to the legal procedure should have a bank account and a job. Yet, different credit cards have different eligibility criteria. Some credit card companies allow you to possess a credit card, even if you don’t have a bank account. Also, they don’t require you to have a bank account in the same bank, in which you’ve applied for the credit card.


We recommend that you should have a bank account, so that you don’t face any problems later on. Although, it is not vital for using some of the credit cards, but a bank account is essential for the verification of your monetary value. To boost credit limit and conduct transactions securely, customers feel the bank account required. It is an authentic proof that you will repay all your payments and credit. A bank account shows that you are financially responsible. You can even apply for other credit cards, once you have a bank account. Furthermore, paying your credit card will improve your credit score, and also allow you to apply for revolving credit.


Therefore, apply for a credit card, with the bank account required along with the completion of other formalities, without any problems. And, decide which credit card suits you the best.

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