Thinking of applying for a credit card in India? Before you fill out the form, it’s essential to check whether you meet the eligibility criteria set by banks and card issuers. Understanding the credit card eligibility requirements in India can boost your chances of approval, help you pick the right card, and avoid unnecessary rejections.
In this comprehensive guide, we discuss various credit card requirements on the basis of minimum age, income, documents, social status, and other factors that could influence credit card eligibility.
Understanding and meeting the credit card eligibility criteria increases your chances of getting approved for a credit card. Here’s why it is important to meet certain eligibility parameters for you as an applicant.
Ensures Financial Responsibility: Passing the credit card eligibility criteria demonstrates that you have a stable income and a commendable financial history. This indicates your ability to manage credit responsibly.
Reduces Risk for Lenders: Banks and financial institutions use these criteria to determine their lending risks. Applicants who meet these credit card requirements are considered lower risk, which helps prevent defaults.
Access to Better Credit Options: Those who meet the eligibility requirements often have access to a wider range of credit card options, including cards with better rewards, lower interest rates, and higher credit limits.
If you’re wondering how to check eligibility for a credit card, don’t fret. It is usually done by banks or financial institutions, or credit unions that issue the credit card to you.
Before we look into the eligibility criteria in detail, let’s discuss them in short -
|
Factor |
Typical Requirement |
Why It Matters |
|---|---|---|
|
Age |
18 to 21 years (minimum) to 60 to 65 years (maximum) |
Ensures the borrower is legally an adult and has sufficient earning years. |
|
Income / Salary |
Entry-level cards: ₹15,000–₹25,000 per month; standard cards: ₹20,000–₹30,000 or more |
Lenders want assurance that you can repay monthly dues. |
|
Employment Status |
Salaried employees or self-employed professionals with proof of business/ITRs. |
Income stability and traceable earnings increase approval odds. |
|
Credit Score / History |
Usually, 750+ is preferred; banks check past loans, defaults. |
Signals your credit-worthiness and repayment discipline. |
|
Residential Status / Nationality |
Indian residents (and some NRIs with extra documents). |
Banks need address verification and regulatory compliance. |
|
Documents |
Identity proof, address proof, income proof (salary slips/ITR), and employment evidence. |
Verifies your application and helps issue the card without delay. |
|
Account |
Having an account or a fixed deposit in the bank you want the card from is preferred. |
Easier verification and fast approval due to a prior relationship with the bank. |
The following factors are the most important credit card eligibility criteria.
Before applying for a credit card in India, you should know the age limit for credit cards.
Minimum Age: The minimum age for a credit card in India is typically 18 years. Some banks might require applicants to be at least 21 years old to be a primary credit card holder in India, whereas 18 years is the minimum age for add-on or supplementary credit cards.
Maximum Age: The maximum age limit for credit card applicants is generally around 60 to 65 years. However, this can vary depending on bank policies.
Your income criteria are the next most important credit card eligibility parameters. Firstly, you must have a regular income to be eligible to secure a credit card for yourself.
Salaried Individuals: Most banks require salaried individuals to have a minimum monthly income of ₹15,000 to ₹25,000 to be eligible for their basic credit cards. High-end credit cards from banks and credit unions may have higher income requirements.
Self-Employed Individuals: Self-employed individuals are also eligible for credit cards if they can display a stable income through audited financial statements or income tax returns (ITRs). But the required income threshold varies based on the card type.
Your employment status determines your credit card eligibility parameters, too.
Salaried: Applicants should be employed with a reputed company and must provide proof of employment, such as bank accounts, salary slips, employee IDs, and employment letters.
Self-Employed: Self-employed individuals must show proof of business continuity, which can include their business registration certificates and duly-submitted ITRs for the last few years.
A holistic credit history assesses the creditworthiness of the applicant and tests whether they can manage their credit cards properly.
CIBIL Score: A good credit score, which typically ranges above 750, is crucial for your credit card approval. It indicates a history of responsible credit behavior and lowers the risk for the lender.
Credit Report: Banks also review your credit report for any negative marks, such as defaults, existing debts, or late payments.
Most banks and financial institutions check the residential status of the applicant before issuing a credit card.
Indian Citizens: Most credit cards are available to Indian residents. Applicants must provide an address proof or a proof of residence, like a utility bill or rental agreement.
NRIs: Certain banks and financial institutions may also grant credit cards to non-resident Indians (NRIs). However, the eligibility criteria might be more stringent.
It’s true that accounts often serve as essential credit card eligibility requirements.
Bank Account: A bank account typically acts as proof of income for your credit card issuer. However, it’s not mandatory that you have a bank account with the credit card issuer.
Fixed Deposit: You can even obtain a credit card against a fixed deposit account that you have in a specific bank.
Want a Credit Card with High Limits & Rewards?
When it comes to the documentation to assess the credit card eligibility in India, you must keep the following handy.
Proof of identity: Aadhaar card, PAN card, Passport, etc.
Proof of address: Utility bills, Rental agreement, Passport, etc.
Proof of income: Salary slips, ITRs, Bank statements, etc.
Employment proof: Employment letter, Business registration documents, etc.
When you apply for a credit card at a bank or a credit union, most of them have internal processes in place by which they verify the above credit card eligibility parameters.
Once they run their background check and obtain positive results, only then will they issue a credit card under your ownership.
Following this, you need to follow the basic steps to apply for a credit card in India.
Want to improve your chances to be approved for a credit card? Let’s look at some tips -
Use the issuer’s online eligibility checker that you will find on their app or website.
Review your credit report & score to ensure there are no errors, or recent defaults, and that you have a clean history.
Increase your income or provide proof of business.
Reduce your existing liabilities by keeping other loan EMIs or credit-card balances low.
Maintain a low credit utilization ratio, ideally under 30%.
Have documents to prove identity, address, income, and employment ready.
If your profile is weak, consider secured credit cards that are backed by fixed-deposits.
How Will Meeting the Eligibility Help You?
|
Understanding your credit card eligibility criteria is the first step towards obtaining your credit card. Whether it’s your age, income, employment status, credit history or required documents, checking all the boxes improves your chances of approval.
Ensuring that you meet the minimum age for credit card in India along with other parameters such as residential status, employment status, credit history, income criteria, and others will improve your chances of approval. If you maintain a good credit history, it usually enhances your chances of obtaining a better credit limit and other favorable terms on your potential credit card.
In India, credit card requirements don’t mandatorily depend on the applicant having a salaried job. If the applicant is a self-employed person like a business owner, a doctor, a CA, a practicing lawyer, etc.; they are eligible to get a credit card.
If you have significant investments in your savings account or fixed deposits, mutual funds, shares, etc., you will be eligible to hold a credit card.
You can always determine the best credit card for yourself based on the following factors -
Credit Card Insights
CIBIL Score Check and Boost Guide
Credit Score Basics and Full Forms
Fixed Deposit Insights and Guides
Banking & Investment Tips
Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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