When banks approve your credit card application, they are extending you a personal line of credit, which would be subject to a limit. The credit limit would be determined by the bank upon assessing your application. The exact categories by which banks approve or reject credit card applications is confidential in nature but a good credit rating is more likely to get you approved for a credit card.
Some basic requirements you need to meet when applying for a credit card also include the following:
- You have to be of legal age
- You have to be a resident or citizen of Hong Kong
- You have to meet minimum income requirements
- You need to have stable employment (some banks look at your employment tenure)
- You have to provide identification, proof of income, and other require documents
Other banks have more stringent requirements than others. Some banks in Hong Kong may accept proof of car/ home ownership in lieu of a proof of income document, although Hong Kong Monetary Authority (HKMA) doesn’t encourage this practice.
To know more about the process of credit card applications in Hong Kong, refer to our main Credit Card Guide . If you have further questions, try our credit card FAQs page. You may also refer to our credit cards Glossary to help you better understand some technical terms.