Apply For A Credit Card

Get credit cards that are best matched to your credit profile

Documents Required To Apply For A Credit Card

The documents and the eligibility criteria to apply for a credit card would vary from bank to bank and from card to card. However, there are certain common documents that most of the banks including the top banks such as INDUSIND, HDFC, ICICI, RBL, Citibank and others require the applicant to submit along with the credit card application.

Documents required by Salaried customers:

  • Identity proof (Pancard)
  • Address proof (copy of passport/voter ID card/driving license/Aadhaar)
  • Income proof:
    • Last 2 months salary slips
    • 2 months bank statement for salary account
  • Age Proof: Secondary School Certificate (class X), Birth certificate, Passport, Voter ID card
  • Employee ID card

Documents required by Self-Employed customers:

  • Identity proof (Pancard)
  • Address proof (copy of passport/voter ID card/driving license/Aadhaar)
  • Age Proof: Secondary School Certificate (class X), Birth certificate, Passport, Voter ID card
  • 1 year IT return with computation

Documents required by Card to card customers:

  • Identity proof (Pancard)
  • Address proof (copy of passport/voter ID card/driving license/Aadhaar)
  • Old credit card copy front side
  • 1 month card statement
Applicant Details

Credit Card

Credit cards are issued by banks and financial institutions, allowing an individual to make purchases and pay for various services by borrowing money in them. When do we talk about the invention of credit card, who Invented credit cards? The modern credit card was made in 1950 by Ralph Schneider and Frank McNamara who founded Diners Club..

Besides offering the essential option for cash, bank cards also provide you benefits in the kind of rewards, cashback, interest-free span, and a whole lot more. The requirement for bank cards from the Indian market is growing fast, and thus leading banks have established plenty of credit card choices to the clients to pick from, There are different types of credit cards in the market, having various features and benefits associated with them

The very widely used ones are travel credit cards, shopping credit cards, entertainment credit cards, fuel credit cards, cash back credit cards, lifetime free credit cards, premium credit cards, and small business credit cards.

Credit Card- Apply Online

These days, it is very Simple to avail a credit card if you meet the eligibility criteria. You don't have to visit your Bank branch for the purpose; credit card application can be made online. You can visit the web portal of the bank and apply for a credit card by filling out some basic details like name, email ID, contact number, salary, address, and so on. You will get a call from a credit card representative of the bank who will control you through the procedure. A representative will come to collect your documents at your doorstep.

How did credit cards work?

Credit cards are merely a sort of loan. Which enables you to spend less on charge it's like using financing for the total amount spent using the credit card. It's possible to spend up to, and including pre-set borrowing limitation, that could be two or three hundred or even a few tens of thousands of pounds.

The bank or the bank that's issuing these charge cards is generally extending its clients a line of charge i.e., cash that an individual might not own.

Credit card debts are typically unsecured as for any ordinary credit card that an individual isn't required to provide any mortgage or collateral advantage to get these funds.

The bank or the bank that issues someone any credit card primarily judges the creditworthiness of somebody then determines to trouble him a charge card with specific limits and characteristics.

How credit cards benefit you?

Here is some list below which helps you to know how Credit cards benefit you?

  • Welcome Offers: Most banks supply the card-holder several sorts of welcome advantages. These benefits might come from the form of gift coupons, discounts, or incentive rewards points and will be availed by triggering the bank card in just a specified period.

  • Cashback and Reward Points: Every single time you purchase through credit card, then you get a few reward points or cashback into your accounts. The accumulated bonus points could be redeemed to get complimentary gifts and a product, whereas cashback rewards are directly put on an account. For those who own a travel bank card, then you can earn air miles rather than reward points that might be redeemed during booking tickets.

  • Fuel Surcharge Waiver: This benefit could be availed almost all charge cards, now. With fuel-centric charge cards, extra perks could be offered. At any time you refill your automobile, the surcharge will be waived off given you devote a particular quantity.

  • Airport Lounge Access: Some credit cards also offer you a specific number of free lounge visits within a year in national airports in addition to airfields. Travel-centric charge cards along with credit cards mainly offer you those advantages.

  • Insurance: Bank cards also supply cover and insurance injuries upto a certain quantity. It could be an atmosphere incident policy, lost card liability cover, or even an overseas hospitalization cover.

  • Cash Advance: You may even withdraw cash directly from an ATM with your credit card. This is slightly beneficial in cases of catastrophe when you will need some urgent money.

Credit Cards Types

Nowadays credit cards come in various levels with ranging interest rates, prices and rewards, therefore until you fill out an application, it is better to know which credit card suits you and your financial condition and way of life. Here are the major unique kinds of credit cards you can apply here for anyone of them which suits you personally

  • Travel Credit Cards- A range of banks, in these times, are offering travel-centric charge cards. These credit cards offer all the advantages together with extra concentrate on traveling related features such as airport lounge access and air mile revenue, air incident insurance cover, etc.. It's wise to put your trip expenses on such cards for bringing in more wages and availing direct discounts at partner airport or resort chains. Some of these trades may also offer low forex mark-up fee whenever you employ them at international POS terminals or ATMs. To encourage users, travel credit cards may also provide additional reward earnings on traveling expenses.

  • Shopping Credit Cards- These cards are somewhat more focused upon lifestyle benefits such as discounts on clothes, footwear, etc.. Shopping bank cards are a viable option for frequent shoppers, particularly those who'd like to put their monthly cost on credit cards. The majority of the bank cards in the market are designed to offer health advantages to the users since it's the most common reason people seek credit cards. Along with overall shopping benefits, a shopping credit card can also be packaged with some other benefits such as domestic couch access, milestone benefits, etc..

  • Fuel Credit Cards- As its name shows, fuel credit cards offer you added advantages in the type of fuel surcharge waiver and incentive benefit point earnings whenever you utilize these to refill your motor vehicle. Some banks have ventured with a new gas pump, and also you can get bonuses just as soon as you refill in those stations whereas many banks provide benefits in any gas pumps.The quantity of surcharge waiver is contingent upon the sort of card you've got.

  • Grocery Credit Cards- If you search for groceries with your credit cards, then it's much better to find yourself a credit card. These cards offer you additional bonus points or cash back in select supermarkets and departmental stores, assisting you to save on markets. Exactly like shopping bank cards, grocery charge cards may also offer you several other privileges such as landmark advantages, sofa access, lodging center, etc.. At precisely the same time frame, there could be other bank cards that provide supermarket advantages as additional benefit past a real power.

  • Entertainment Credit Cards- For all those that like to visit movies, concerts, and events, entertainment credit cards are a terrific option. These cards provide extra rewards and cashback when you pay to get a picture ticket booking. Some of these cards are co-branded with platforms like BookMyShow. Usually, the supplies on entertainment credit cards maintain changing, which means you must stay updated with the most recent deals on your card to make the most of it.

  • Co-branded Credit Cards- Some credit cards are co-branded together with airline, hotel, store, or alternative brands. Once you shop at their partner brands, the extra cash and rewards back will probably be offered to an individual. It provides you with additional benefits when you reserve Air India airfare tickets.

  • Rewards Credit Cards- As its name indicates, rewards cards are the ones who provide rewards on charge card purchases. There are three standard sorts of rewards cards: cashback, points, and also traveling. Many folks choose the flexibility of cashback rewards, while others enjoy things which might be redeemed for cash or other products. Travel rewards cards remain popular among frequent travelers due to the skill to generate free flights, hotel stays, as well as other travel perks.

  • Cashback Credit Cards- Some top banks provide cashback credit cards which offer immediate payment back on particular forms of cards. Citi-Bank cashback bank card and also HDFC money-back credit-card would be both most widely used cashback credit cards. Cash-back could be availed in 2 ways- either some of the total amount spent will probably soon be turned to a charge card accounts, or you may earn rewards, and you're able to convert it in to direct invoice credit card.

  • Student Credit Cards- Many faculty students require a credit card, but they often have little if any credit score, helping to make it challenging to get qualified for a conventional credit card. Student credit cards are made specifically for anyone registered in licensed academic schools and colleges to assist them in establishing a credit score from the floor up.
    In comparison to credit cards, student credit cards usually are climbed back, notably concerning advantages, features along with additional benefits; however, they could still be essential merchandise. If used sensibly, students typically take the initial step toward establishing a good credit rating with this specific sort of credit card. Once they have found fiscal responsibility, it'll be a whole lot easier to be eligible for a reward card along with higher charge lines.

  • Balance Transfer Credit Cards- Balance transfer is generally offered to customers who have been a credit card user for one particular company for at least a year. This is to ensure that credit holders do not keep hopping from one credit issuer to another in order to avail lower rates of interest.
    Balance transfer interest levels vary some are as little as 0 percent, but those will often have qualifiers such for example the absolute minimum of 2 trades monthly. The lower your promotional speed (and more the promotional phase ) the more attractive the bill is. But, you'll frequently require decent credit to be eligible.

  • Secured Credit Cards- Secured credit cards require security for approval. A security deposit with a predetermined amount will become necessary to fasten the credit card, and the collateral deposit generally has to be of equal or more significant value than the charge level.
    security can arrive in the shape of an auto, boat, jewelry, or whatever else of monetary value. Secured credit cards are for individuals who have no credit or bad credit that are making an effort to develop or rebuild their credit score.
    Make sure you learn on any terms and requirements for all these addon services before employing. In the event you are using the card responsibly and spend all of your bills on time, you're able to request a credit line growth later on. Even the additional fees and shallow charge lines will probably soon be well worth it in case you're guaranteed credit card makes it possible to obtain your general chargeback on course.

  • Business Credit Cards- These cards are offered for business people, and owners additionally have lots of specific features as traditional bank cards: low introductory rates and cashback offers and airline wages. The distinction is that these cards arrive with lots of additional advantages and perks only for people in the industry community.
    Several of these incentives include Business expenses kept separately from personal expenses; specific company advantages and savings; cost management accounts; other cards for employees; and high credit limitations.
    Every credit card is somewhat distinct and promotional materials usually fluctuate, so be sure you thoroughly examine inside the terms and requirements for every specific card before applying.

Apply For a Credit Card Online

Now, it's straightforward to get a credit card if you fulfill the eligibility criteria. You don't have to go to your bank division with the objective; bank card application might be made on the web. It's possible to stop by the internet portal site of this bank and apply for a credit card by simply completing some standard details such as name, email ID, phone number, income, speech, etc.. You are sure to find a call in the bank card representative of this lender that will direct you during the procedure. An agent may even come to get your records at your doorstep. You might also easily apply here and receive immediate approval.

Are Credit Cards Good or Bad?

If a credit card used correctly and responsibly, it could have many good or advantages for that card-holder.

A few benefits to having a credit card listed below:

  • Credit cards Are Beneficial for emergencies
  • Credit cards are usually required to hold a booking
  • Credit cards Provide protection against fraud above and beyond other payment programs (like debit cards, especially when shopping online )
  • Many credit cards offer great bonuses, such as cash rebates and frequent flyer miles (you automatically receive these bonuses to get just applying for the card!)
  • And maybe most significantly, if charge cards used responsibly they can help you establish a positive credit rating

If a credit card used irresponsibly, it may have many disadvantages and cause the card-holder financial distress. Perhaps the most crushing outcome of working with a credit card score could be that the effect it might have in your own credit score. If you don't use credit cards, you could form a damaging credit score also, subsequently, decrease your credit history.

At the very long term, adverse credit score may keep you from qualifying for loans later in life, for example, a mortgage to get a house or even a loan to get an automobile.

Additionally, individuals who have bad credit ratings have trouble leasing apartments, cover high rates of interest, pay high insurance prices, and also have difficulty getting work.

Do not allow "the awful" frighten you away from using Credit cards. You want to benefit from the advantages credit cards offer, right? It is quite easy to use a credit card responsibly.

Avoid these mistakes when you Using credit cards.

  • Making late credit card payments
  • Paying just the minimum fee
  • Exceeding your Card Credit limitation
  • Charging things you can not pay off instantly
  • Owning a lot of credit cards.
Credit Card Eligibility Criteria

Age Minimum of 18 years old
Income Fixed deposit or minimum monthly or annual income as set by the bank
Employment Salaried or Self-Employed
Interest Free Period Up to 55 days
ATM Cash Withdrawal Charges From 2.0% to 3.5% of the amount withdrawn
Age Criteria

Applicant should be at least 18 years of age. Apply for a credit card, you should come to the age limit prescribed by the bank. Anyone under this age limit can apply for a credit card. Add-on credit card holder should be 18 years of age and above

You must have regular income to get a credit card. Income criteria vary according to card characteristics. You can get a credit card in accordance with your deposit amount and minimum income set by the bank. According to directions and condition, the requirement of income for different cards may differ.

The client should have proof of the minimum source of income to receive a credit card. You must be a salaried employee in recognized company or who are managing their own business.