How to Apply for a Credit Card in India

You may be wondering what are the best credit cards and how you can save money by transferring credit card balances, but one of the first things that comes to mind is how to apply for a credit card.

It does not matter which bank you are applying to, the application process continues to follow the same basic structure. 

How to Apply for a Credit Card?

Following are a few things to keep in mind while you're applying for a credit card:

There are a vast number of credit cards available, so you should choose a card that fits your lifestyle. In the case of frequent travellers, a 'travel credit card' will save you money on your flight or hotel reservations.

You can obtain discounts on movie tickets by getting an entertainment credit card while business owners can take advantage of advance credit by getting a business credit card.

Credit cards are easy to obtain these days, and most banks offer tempting promotional offers to entice new customers.

Applicants must meet both the income and age requirements before applying for a credit card. People between the ages of 21 and 65 are the most likely to receive credit cards from Indian banks. To qualify for such a card, you must have a steady income. You may qualify for different credit cards depending on your income level.

You do not have to be salaried to use a credit card as most financial institutions encourage self-employed people to use them. Some banks also offer credit cards based on fixed deposits.

You may also link a credit card to another family member's credit card. The add-on cardholder doesn't need to be 21 or have a steady income in such a situation. To qualify, you must be an Indian resident or an NRI of 18 years of age.

Once you've determined if you qualify for a credit card, you'll need to collect all the required documents. IT returns as proof of income; payslips; statements of bank accounts are some of the documents you must have.

It is a requirement for every applicant for a credit card to submit these documents. 

Documents such as a voter identity card, driving licence, or pension book can serve as proof of identity. 

A driver's licence, ration card, or passport can be used as proof of address. A PAN card copy and a passport-size photo may also be required.

Before applying for a credit card, you should determine your preferred method of paying your credit card bill.

Many banks will let customers pay with cash at their nearest branch if they prefer the traditional method.

This will be subject to a small processing fee. If you are paying by check, you can include your credit card number in the check and leave it in any drop box at the ATM.

It is also possible to pay your credit card through NEFT, which is a service provided by most banks. The benefit of this method is that payments made during working hours are credited immediately.

The process of applying for a credit card will be easier if you know how to pay the credit card bill.

How to Apply For a Credit Card Online

Following are the steps on how to apply for a credit card online:

Once you are done analysing your own needs and getting to know the wide variety of offers, choose the best credit card based on your income and spending pattern, as well as one that offers the best value at the lowest annual fee along with the least amount of associated charges. 

Your credit card company may tell you your credit limit immediately. In addition, they will provide you with a temporary digital card number for online use. 

How to apply for Student Credit Card

Student credit cards provide you with a convenient way to pay for school and emergency expenses as they are easier to get than traditional credit cards.

Your card will also help you establish good credit in the future if you use it properly and make your payments on time.

Follow these steps if you are wondering how to apply for Student Credit Card.

There are differences between credit card companies when it comes to student eligibility requirements.

However, you need to be at least 18 years old, be enrolled in college, have a source of income or a cosigner in order to qualify.

Preparing documentation in advance will save you time. In some cases, you may not have to submit the actual documents, but you can fill out the application using the paperwork. 

You can ask your parents, relatives, or friends who are over 21 to co-sign. If you fall behind on your card payments, the co-signer will pay them on your account.

If your application doesn't need any further review and you're approved, you will receive your card within a few days.

In the event that the card issuer rejects your application for the card, it will send you a letter informing you of the reasons for its refusal. 

How to apply for a credit card online if your application is denied?

You can ask the credit card company directly to reconsider granting you a credit card if you are denied. Based on your credit management skills and ability to make timely payments, you would need to prove that you'd be a suitable prospect for a credit card.

You can still get a credit card even if you are turned down for reconsideration. You can, for example, have someone add you as a co-borrower or authorised user to a card they have. It gives you buying power and allows you to build credit at the same time.

Conclusion

Hence, applying for a credit card is simple, and if your paperwork is in order, your application is processed quickly. You will find that banks make every effort to make things as convenient as possible for you. 

Apply for a Credit Card in India Related FAQs

If you plan to travel abroad, you should apply for one in your home country before you leave. Typically, on induction day, a free zero-balance bank account is offered to students heading abroad to study.

Set up an account and request your Bank to transfer all of your travel card balance to it. The debit card associated with this account can be used.


Credit cards are physical cards that enable you to make purchases, pay bills, and sometimes withdraw cash as well. Credit cards are essentially short-term loans.

The credit limit of an applicant is determined by several factors, including his/her profile, repayment capacity, and CIBIL credit report. You can, however, request your provider for an increase in your credit limit.

By using co-branded cards, well-known businesses are partnered with banks to offer additional privileges to customers when they use those brands' products.

You need a cosigner if you're under 21 and don't have enough income and credit

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