Follow these steps to Apply for Credit Card Online
Credit cards are no longer a luxury, they are quickly becoming essential for managing everyday finances. Banks have simplified the application process to make it easier than ever to gain access to credit. So if you meet the eligibility criteria, obtaining your card could be as easy as 1-2-3!
With so many options available nowadays there is sure to be one that meets all of your needs. To apply for a credit card online, you need just a few minutes to complete all the steps in the process. Here’s how to get started:
1. Check your credit score
With a bit of preparation, you can maximize your chance to secure the best credit card offer available. Start by checking your credit report as it contains priceless information that will tell you which interest rates and benefits await you.
Credit scores are determined based on a meticulous evaluation of details like payment history, outstanding balances, utilization rate and line of credit. However, be aware there may still be small variations between bureaus due to their scoring methods.
2. Check your eligibility criteria
To qualify for unsecured bank credit cards, applicants must meet the requirements listed below:
- You must be 21 or above
- You must be a citizen of India and have a current and permanent residence address there
- Have an income of at least ₹25,000 per month
- When you apply, you must provide evidence of a solid credit history free of any defaults on loans or past credit card payments
- Accept the bank’s terms and conditions
3. Find a credit card that suits your specific lifestyle
With so many options available, selecting the right credit card for yourself can be a daunting task. However, if you consider your lifestyle and how it aligns with certain cards’ benefits packages, finding an ideal match will become much easier. For instance, frequent travellers may want to look for ‘travel credit cards’, as these offer exclusive discounts on hotel stays or tickets plus access to airport lounges.
Credit cards that offer discounts on retail, food, and health and wellness products help you maintain your lifestyle and get rewarded at the same time.
If you’re looking for a premium credit card that does it all, without having to pay any joining or annual fee, go for the FIRST Select Credit Card by IDFC FIRST Bank. It provides 10X reward points on incremental spends above ₹25,000 per month and spends done on your birthday. For purchases below ₹25,000, you earn 6X and 3X reward points on online and offline purchases, respectively. In addition, you get a host of attractive travel and shopping benefits.
4. Submit your documents
Once you’ve decided on the credit card you want, look for a “Apply Now” button on the issuer’s website. However, before starting the application process for a credit card, you must first ensure that you have the required documentation and that you are qualified for a credit card. You’ll need documents such as:
- Identity proof
- Income proof
- Bank statements
Every applicant for a credit card is required to provide these documents. You can use any one of these documents as identification:
- Driving licence
- Aadhaar card
- Voter ID card
5. Submit your application
After submitting your application, wait for a response. Although some banks, like IDFC FIRST Bank, respond more quickly than others, you should typically hear back within a few days. Once your application is submitted, you will receive an OTP at your registered phone number. The annual fee for most cards is usually removed once you spend a particular amount in a calendar year. Your monthly statement will contain the yearly charge.
When applying for a credit card, ensure it fits your lifestyle. Avoid getting a card that doesn’t match your spending habit, has high-interest rates, and doesn’t offer a credit card EMI facility.