Summarize the conditions for issuing a credit card for the unemployed. Usually, in order to get a credit card, there is a condition that you must have a job. I think that you have to go to work to get a credit card issued, but there are other ways to get a credit card issued.
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3 Conditions for issuing a college student credit card for the unemployed
I think you have to have a certain amount of income to get a credit card, but that’s not necessarily the case. Even if you do not have income, you can issue a card if you have the ability to pay the usage fee.
Each credit card company sets its own standards and evaluates them through objective data.
Basic conditions for issuing unemployed university students credit cards
Credit rating 6-7 or higher (based on NICE/KCB)
Continuous income of 500,000 won or more per month for the last 3 months
Deposit an average of KRW 6 million or more in the bank for 6 months (based on Nonghyup Card and Samsung Card)
In general, credit cards are issued to university students or unemployed people according to the above conditions. Not all conditions have to be satisfied. Generally, credit rating + bank deposit or credit rating + monthly income conditions are satisfied.
Even if your credit rating is low, it is possible to issue it if you have continuous income or have deposited in a bank over a certain amount, but it is also important to have a credit rating in general. Bank deposits vary in amount and duration depending on the card company.
1. Basic conditions
Most basically, you must be an adult over the age of 19 to get a credit card issued. College students generally use debit cards a lot, but more and more people are using credit cards because they offer various benefits.
2. Monthly income of 500,000 won
This is the easiest way to obtain a credit card. Monthly disposable income is 500,000 won or more. Disposable income refers to the amount of principal and interest that must be repaid each month compared to income.
However, even if you do not have monthly income, you can issue a card if you have a deposit of more than a certain amount in the bank.
3. Average bank balance
Even if you do not have a monthly income, you only need to have a certain amount of money deposited in your main bank. In this case, it is considered that the student has the ability to pay for the card, so it meets the conditions for issuing a college student credit card.
This is not fixed at 6 million won for 6 months, and each card company has different issuance standards.
Credit card company bank account balance deposit period
Hana Card 300,000 won 3 months
Kookmin Card 600,000 won 6 months
Shinhan Card 800,000 won 3 months
Woori Card 1.2 million won 6 months
Nonghyup Card
Samsung Card 6 million won 6 months
All standards are different and subject to change by card company, so it is recommended to check before applying for a card issuance.
4. Credit Rating
The most important condition for issuing a credit card is your credit rating (score). In fact, college students do not have high credit scores because they have very few financial transaction records. However, unless you are in arrears or have a history of non-payment, you generally meet the credit rating criteria.
Rating Nice KCB
1 900~1,000 942~1,000
2 870~899 891~941
3 840~869 832~890
4 805~839 768~831
5 750~804 698~767
6 665~749 630~697
7 600~664 530~629
8 515~599 454~529
9 445~514 335~453
10 0~444 0~334
Credit ratings are checked by two institutions, NICE and KCB, to see if a credit card is issued. It can be issued within the 6th or 7th grade, but it is only necessary to score 680 points on the NICE standard or 576 points on the KCB standard.
You can check your credit rating on the All Credits, Nice Jikimi sites, or on the Toss app and Naver Pay app.
5. Other criteria
The most important conditions for issuing credit cards for unemployed and university students are credit scores and the ability to pay for credit cards. Payments made using the card may be evaluated with other incidental information.
First of all, you need to have a history of paying 150,000 won per month for personal medical insurance, or a history of paying property taxes. In addition, it is possible to issue a card even if you pay for a private business and run a business.
Credit card
Checklist before applying for a credit card
If you are issuing a credit card for the first time, the relevant information may be insufficient. If you know a few things at this time, you can issue a card a little smarter.
1. Card designer
It may be convenient to get a card issued through a bank or the Internet, but if you use a card designer, you can get about 100,000 to 200,000 won in cash. This old-fashioned way of issuing cards is a great way to make a profit.
However, since there may be conditions attached, such as using a card of 300,000 won or more in 6 months, check carefully before issuing.
2. Utilize new events
Recently, each credit card company has a new promotion. If you make good use of this, you can get back 100,000 to 150,000 won of the amount you used. In general, it is a way to apply for an event after issuing it online.
Unlike using a card designer, there are no conditions for using the card.
Naver Pay, Payco, Kakao Pay, Toss, etc. are issued, and if you apply for an event by issuing a promotional card, you can get back more than 100,000 won.
3. Choose a credit card that does not require performance
Some of the reasons for using a credit card are to receive various benefits. However, in most cases, the previous month’s performance condition is required. To put it simply, you need to use a credit card with a record of KRW 500,000 or more in the previous month to receive savings and discounts.
Generally, a performance of around 300,000 to 500,000 won is required, but if this is a burden, choose a card that provides accumulation/discount even if there is no performance. Here are the top 3 credit cards that don’t require a track record:
Hyundai Card ZERO Edition2
Discount type: 0.7% discount at all member stores, 1.5% discount on essential areas for daily life
Point type: 1% accumulation at all member stores, 2.5% accumulation in essential areas for daily life
Woori Card DA@ The standard of the card
0.8% discount for all member stores, 1.3% discount for essential areas of life
Shinhan Card Deep Dream
All affiliates earn 0.7%
Earn 2.1%-3.5% when spending over KRW 300,000
Credit cards are fine if you use them well, but they are often poisonous to college students or newcomers to society. You may develop a habit of overspending thinking that the money is not going out right now, or you may fall into a swamp of installments.
Credit cards, whether repayable or not, should be used with care. Also, when choosing a credit card, you should choose one that suits your spending pattern and ability, not necessarily looking for one with good benefits.
The most important condition for issuing a credit card for unemployed or university students is the ability to pay the card bill along with the credit rating. Generally, you just need to have a monthly income or have a certain amount in the bank.