October 18, 2021

How Can I Apply For a Credit Card ?

Be it 500 INR or 50,000 INR; any purchase is made easily with a credit card. But not just the benefits of cashless transactions, credit cards today are much more than that. Banks offer a range of rewards and exclusive benefits to their credit cardholders. Starting from the attractive cashback offers offered by shopping credit cards to the unlimited reward points and air miles offered by travel credit cards, the advantages are plenty. Therefore, with a credit card, you don’t just spend money, but you also earn some back at the same time.

As people are being made aware of credit card’s perks, an increasing number of people express a wish to apply for one. However, this relatively simple process of applying for a credit card can be quite overwhelming for many people. This is especially true for new applicants who would often have to search using phrases like “I want to apply for a credit card” on the internet. However daunting it may seem, the process of applying for a credit card is straightforward if you know what you are supposed to do. The preparation should begin a few months before with building up your credit, and then the rest of the process is just you choosing the best card for yourself and applying for it. Here is a detailed explanation of how you can get an instant credit card online.

Step 1: Choose a credit card for yourself

Credit cards today are not just payment cards issued by your banks. Banks and credit card companies have taken an extra step forward to design different credit card categories that serve different purposes. Different types of credit cards have different credit limits and reward systems that are best suited for people from various aspects of life, each of whom has distinct lifestyles and preferences.

A popular category among credit cards is shopping credit cards, which provide great rewards to shoppers online and offline. What shopping credit cards are to shopaholics, entertainment credit cards are to movie buffs. You can earn a great deal of cashback and free movie tickets using entertainment credit cards. Furthermore, there are travel credit cards that can give one great benefits like air miles and exclusive lounge access while traveling.

However, for newer applicants, there is a high probability that your credit score is not up to the mark. But fret not; even, in that case, there are secured credit cards that can be availed by depositing a certain amount of money as collateral.

In conclusion, whatever credit card looks ideal for your lifestyle should be the one you apply for. One should also pay attention to the credit card’s joining fee and annual fee. For entry-level cards, the joining fee is often nil.

Step 2: Check the eligibility criteria

All credit cards come with a set of criteria that you have to be eligible for. At the top of the list of criteria is the credit score of the applicant. If you are an existing credit card user or you have debts against your name, make sure to pay all your dues on time, so that your credit score looks healthy. From a range of 300 to 900, anything above 650 is considered good enough by most credit card issuers.

Other eligibility criteria include a low credit utilization ratio, a good credit history, and a verifiable source of income.

Step 3: Get the documents ready

To apply for a credit card, you would need documents that would serve as proof of your identity, date of birth, address, and income. Make sure to have everything ready.

Step 4: Apply online

The final step is to carefully fill up the application form without making any errors.

Most credit cards like the Bajaj Finserv RBL Bank SuperCard allow applicants to keep track of the application status online.

You can also read : Different types of credit cards

Talking about the Bajaj Finserv RBL Bank SuperCard, it is one of the most extraordinary credit cards in the market right now. The card provides a multitude of rewards for every purchase and also allows the cardholders to avail a personal loan in case of an emergency. The process to apply for it is simple, and can be done entirely online.