How to Apply for a Credit Card Online?

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Credit cards are, without a doubt, the simplest method spend and then pay it back later. Moreover, the real catch here is that if you pay it on time, you need not bear any interest against your debt.

In order to reap all the additional benefits, you first need to get one, and banks across are now offering it with ease. You will find many options that will be tailored to your needs.

But how will you apply for credit cards in India? Read on to learn more.

How to apply for a credit card in India?

It is quite an easy process to apply for a credit card. However, you must do thorough research, compare the services offered, and settle down for the one that provides the best terms per your requirements.

After deciding on the credit card, you can follow these simple steps to make an application for the card online. 

Step 1: Visit the official website of your preferred financial institution. 

Step 2: Navigate to the ‘Credit Card’ section and click on the ‘Apply’ button. 

Step 3: Enter all the personal details, such as name, occupation, monthly income, mobile number, PIN code, and more. 

Step 4: Select the desired credit card and hit the ‘Check Eligibility’. 

Step 5: If you meet all of the credit card eligibility requirements for the chosen card, you will be prompted to complete the application by providing information such as your name, date of birth, email address and PAN.

Step 6: Continue by providing your residential address and PIN number.

Step 7: You will next be prompted to provide information about your employment, including the name, PIN code, address and employer’s landline number.

Step 8: In order to finish the application procedure, you must lastly use the OTP that has been sent to your phone to confirm your mobile number. 

After finishing this, a representative from the bank will get in touch to complete the remaining formalities, if any. Once the application gets through, you will receive notifications regarding approval on your registered contact details.

It is crucial to keep in mind that your application can be turned down if you don’t meet any of the bank’s requirements for credit card eligibility.

Explore more about Baroda Tabit and how it enhance mobile banking.

What are the eligibility criteria for a credit card?

If you are looking forward to applying for a credit card anytime soon, you must know the eligibility parameters that you have to fulfil. Here are some of the basic eligibility criteria for a credit card in India.

  • Applicants must be 18 years old or above. 
  • The willing applicant should be an Indian resident with a permanent residential address in India.
  • Candidates must have a decent CIBIL score without any default history. In order to check the creditworthiness of the applicant, a card provider will check the credit report and his or her previous financial activities. 
  • The applicant must not be filed for bankruptcy in the previous seven years.

A point to note here is that the particulars of the eligibility criteria will change according to the bank. So, do check with the respective bank before applying.

Benefits of a credit card 

Along with the lucrative credit card offers, there are several other benefits of this financial product. Here are some of those.

  • Credit card, as a payment method, is widely accepted worldwide. Hence, you will not have to worry about running out of money when travelling.
  • The best thing about using a credit card is that no interest is charged while you are making your payments. But, there is a deadline by which you must pay back the money, often 30 to 45 days.
  • It offers the necessary convenience where you do not have to carry cash.
  • The reward points on offer with each transaction make shopping more affordable.
  • If you cannot make the payments on time, you can convert them into easy EMIs, lowering your burden.

Also Read: Steps to Track Credit Card Application Status Online

Conclusion 

Hopefully, you now have an idea of how to apply for credit cards online and what you need to keep in mind while doing that. Even though a credit card offers excellent benefits, it still is a debt. So, you must be careful and efficient with its usage and your financial planning to make the most of it.