How To Apply for Credit Cards in India - Step By Step Guide

Credit cards are a great financial tool that can help fulfill your financial needs and requirements. There are several benefits associated with owning a credit card such as rewards, cashback, sign-up bonuses, ancillary benefits, special discounts, and safety. These are some important factors that make credit cards a popular option than any other method of payment. Therefore, it is increasingly important to own a credit card in these times. In this article, we have provided a step-by-step guide you can through when applying for a credit card.

Step 1: Select the Credit Card You Want to Apply

First things first, when applying for a credit card is to choose the right credit card that fits your needs and requirements. Each bank offers customers a wide variety of credit cards designed specifically for different needs. For e.g, banks offer travel cards that are best suited for travelers whereas some issue fuel cards that provide fuel benefits to the customers. The type of credit card you choose directly influences the reward and incentives, you can earn on that credit card. There are certainly other factors that need to be considered when applying for a credit card such as interest or membership fees charged by banks on its credit cards.

Check here: Top 10 Credit Cards In India

Step 2: Check Your Eligibility and Documentation  When Applying For Credit Card

Every bank has its own specific eligibility criteria when applying for a credit card in India. Generally, these criteria consist of the age, income, and credit score of the applicant applying for a credit card. There are also certain documents that an applicant needs to provide to the bank when applying for a provide a credit card with the bank. In order to apply for a credit card in India, you need to provide a document related to proof of address, proof of income, and proof of identity. Provided below is a list of documents you can provide while applying for a credit card.

 These documents include the following -:

●       Voter’s Id

●       Pan Card

●       Passport

●       Aadhaar Card

●       Driving Licence

●      Bank Statement

●      Salary slip of last 3 months

●      Audited financial report for last two years

●       or any other government-approved ID.

Therefore, it is essential for the applicant to make sure the abovementioned eligibility criteria are fulfilled along with the pre-requisite documents when applying for a credit card in India.

Step 3: Fill out the Required Details and Submit Application Form

After arranging for all the necessary documents required in order to apply for a credit card. You need to fill out an application form by entering personal details such as name, mobile number, Email Id, date of birth, and current salary. The applicant should make sure that the details provided while applying for the credit card are true and without any errors. Lastly, submit the application form along with the required documents to the bank.

Additional reading - Benefits of Credit Card You Should Know