Between September 2018 and 2019, the total number of credit cards in operation increased by as much as 20%. This evident increase in the number of credit cards indicates that more individuals are accepting these cards as a preferred financial tool. Reasons for the growth of these credit cards online can be because of any of the following reasons –
- Possibility of availing an instant credit card.
- Card variants and beneficial reward point programs.
To answer how to get a credit card, prospective users can acquire such a card online with leading financiers. Applying for a credit card online is preferred by several individuals because of the ease and convenience of application from the comfort of their home without having to visit a financial company. This saves a lot of time, and the processing is quick as well.
Subsequently, numerous individuals preferring the online method of application may struggle with the procedure if they aren’t familiar with it. Hence, the following tips will help them with all the necessary information required for online application of a credit card.
1. Meet the eligibility criteria of the issuer
Candidates need to meet certain eligibility conditions to apply successfully for a card.
- Applicant must be an Indian resident.
- Age of applicant can vary anywhere between 25 to 65 years of age.
- Candidate must have a decent credit score of 750 and above.
- Applicant should not have a repayment default in their credit history.
Besides, acquiring a credit card by being eligible isn’t enough as it brings financial responsibility along with it. Consequently, knowing how to use a credit card wisely will make sure that a user not only avails a card but acquires one with beneficial features as well.
2. Keep essential documents ready
Financial institutions require certain documents for instant credit card applications that validate user’s details such as identity, residential address, etc. Keep the following documents up to date and ready so that application process of credit cards can be accelerated.
- Proof of identity such as Aadhaar card, PAN card, Voter ID card, Passport, Driving license.
- Proof of address such as Aadhaar card, Voter ID card, electricity bill, ration card, driving license, telephone bill etc.
- Income proof including latest salary slips, form 16, Income tax return receipts, last 2 months bank statements.
- Age proof such as a Birth certificate, Voter ID, passport, tenth standard school certificate.
3. Apply online for a credit card
Individuals who are eligible and have arranged for required documents can apply online by filling up the application form available on the web portal of the financial company. Applying for cards like Bajaj Finserv RBL Bank SuperCard can be easier and quicker for individuals.
Once a candidate fills out the essential details, a one-time password is generated that a candidate needs to submit for verification purposes. Users can check out the pre-approved offers and select the card which they seek as per their shopping habits.
Candidates making sure of the above constraints can easily know how to apply for a credit card online in 3 quick steps. As soon as the application is submitted, financial institutions verify the details and process the application so that candidates can avail an instant credit card.
Subsequently, candidates must keep their documents ready so that they can be provided to the financial institution for verification purposes. Therefore, individuals wondering how to get a credit card can make use of these tips and plan out accordingly. Besides, filing ITR on time and keeping a healthy credit score are the added pointers which an individual should maintain to ensure the credit card application works in their favour.