Credit cards are easier to approve than mortgages that have more restrict criteria on TDSR and extra criteria that is the GDSR. Speaking about TDSR Sandy mention that a client can qualify for certain loan amount with an average between 30%-44% to the TDSR. If a client has a TDSR between 40%-44%, but also has a good credit history or high income the bank system might approve a loan amount less than the client is requiring. Even though the client is not happy with that, he has to go to the ratification center. The ratification center will more in depth, it will ask for more detail documents.
This process can apply for credit card or line of credit. The difference is in the amount of money. A line of credit is for more than $10,000 and it has a better rate of interest, so usually is for a better clientele based on relationship that the costumer has with the bank. The client with good relationship or high income could reach an interest rate of prime or for the average clientele is prime plus 3%-5%. In order to maintain himself update about important changes, Sandy checks the bank system every morning to see if updates in interest rates, new products, requirements. He also has internal letters that tell him what is going on in the world in mortgages, loans, finance, etc.