Credit cards have emerged as a more convenient alternative to cash and debit cards in the modern-day. Many banks now provide credit cards that go beyond simply raising your spending capacity by including various advantages and offers.
Having a credit card comes with a number of guaranteed benefits. The first is that they allow you to shop without having to worry about your account’s current balance. Second, you may take advantage of several deals on a number of special credit cards, including discounts on cinema tickets, travel, and shopping, as well as various cashback offers.
Eligibility Criterion to Apply for Credit Card
Both the offline and online credit card application processes have the same eligibility criteria. The following is a list of them.
You must be at least 18 years old to apply for credit card. Add-on cardholders, on the other hand, must be at least 15 years old in most circumstances.
If you are a resident of India, you can apply for a new credit card. Non-Resident Indians, on the other hand, can use certain credit cards.
Credit cards are available to both salaried and self-employed individuals. All you need is a stable source of money. In most circumstances, a minimum yearly income of Rs. 2 lakhs is required to proceed with a credit card application. The actual amount may differ depending on the issuing authority’s rules.
- Credit Rating
It is simple to obtain credit cards online if you have a decent credit score. Your current income can be utilised to apply for a credit card if you don’t have a credit score. If you have a bad credit score, you can apply for a secured credit card that is secured by a fixed deposit.
Documents required for credit card
Mentioned below are the documents required for credit card
- Identity Verification
Passport, PAN card, voter ID, Aadhaar card, and driver’s licence.
- Proof of Address
Passport, voter identification card, Aadhaar card, driver’s licence, ration card, property paperwork, lease/rent agreement, and three months’ worth of utility bills
- Proof of Income
Salary slips over the previous three months, income tax returns, Salary Certificate, Employment Letter
How to Apply for Credit Cards?
The steps outlined below will assist you in determining “how to apply for a credit card.”
- Step 1: Go to the official Finserv MARKETS website.
- Step 2: Fill in your contact and other personal information.
- Step 3- Compare the attributes of the finest credit cards to apply for from various institutions.
- Step 4- Choose the finest credit card for your spending habits.
- Step 5- After filling out your application form, submit it for a new or first-time credit card and get immediate, uncomplicated online credit approval.
Today, different types of credit cards are accessible from a variety of banks. These are cards that offer guaranteed welcome gifts, exclusive privileges for shoppers, extra miles and access to airport lounges for frequent flyers, and substantial discounts on theatre tickets for movie aficionados. Furthermore, you can always use a credit card to help you buy products that have been on your wishlist for a long time without having to pay the full price upfront.