MasterCard Credit Card Application Requirements

Information verified correct on September 27th, 2016

If you need a new credit card and want to make a MasterCard application there are a few things you should know about it first. You can read this article to find out how to make the application and what information you will need to supply.

If you have been thinking about making a MasterCard application, but held back because you did not know exactly what to expect, then continue reading to find out what information you will need to provide. It is very easy to apply for a MasterCard, but it is good to know what kind of requirements are expected before you go ahead and make the application. It will also save you time because you can assemble your information before you begin the application. Compare some of the leading MasterCard credit cards.

Every bank and financial institution has their own processes and policies for approving a MasterCard application. The one thing that must be in place for all of these different financial institutions, however, is you must be earning an income and be at least 18 years old. Also, it may not be necessary to have an account with the bank in order to make an application for a credit card with them.

When your application is being processed the financial institution will try to access your history with financial repayments, your ability to make any credit repayments and the amount of assets you currently own. Basically, the bank or lending institution wants to verify that you are who you say you are, and that you are not a high-risk person to lend money to. They will take these considerations, and others depending on the bank, into account to make their determination.

Making a MasterCard application:

You will be asked to give the following information when submitting a MasterCard application:

  • Whether you are renting or buying your own home.
  • Your credit card details for any other cards you have.
  • Your employment details.
  • The number on your drivers license.
  • Any banking details.

You can make a MasterCard application online at most financial institutions, or just stop into a branch and pick up some forms to fill out. The form will ask you the questions listed above, and if you have this information handy, it shouldn’t take any longer than 10 minutes to complete it fully. If you aren’t sure about a question, you can look for assistance at the site you are applying on, or call a phone number listed to receive help from a customer representative.

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4 Responses to MasterCard Credit Card Application Requirements

  1. Default Gravatar
    Royce | March 29, 2016

    what information do i have to give about my credit card to a business partner?I want to start a business with an American trading company and they request for my card number yet i have no card but I am interested in the business.I am a student and unemployed. i now have an account with the company but right now i have to invest into the business with any amount that i desire but because i got no card i am stuck up. Please advice me as to how to get any of this card-be it low income card or any other card that is recognized internationally for business traction.

    • Staff
      Debbie | March 29, 2016

      Hi Royce,

      Thanks for your inquiry.

      If you are after an application for business credit card, you may compare different options that is most ideal for your business financial needs. As finder.com.au is an online comparison service, we can’t recommend specific products, issuers or services.

      I hope this helps.

      Cheers,
      Debbie

  2. Default Gravatar
    gurpreet | January 8, 2016

    I’m 18, but I’m not employed. May I eligible for applying master card for online payments??

    • Staff
      Sally | January 8, 2016

      Hi Gurpreet,

      Thanks for your question.

      Many credit cards require applicants to meet a minimum income or at least show proof of their income in the application.

      Credit card issuers will judge your application based on a number of factors including income, ability to repay and credit history. If you don’t have an income, it’s unlikely that you’ll be approved for a credit card.

      As rejected credit card applications can have a negative impact on your credit score, it’s best to ensure you meet the eligibility requirements before applying.

      You can compare low-income credit cards here.

      I hope this has helped.

      Cheers,

      Sally

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