What do you need to get a credit card? - Letsdiskuss
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Posted 11 Jun, 2019 |

What do you need to get a credit card?

Riya Sharma

Accountant | Posted 12 Jun, 2019

If you are going to apply for your first credit card then you must have a minimum salary of 25000 (different financial institutions has different standards for salary). 

Sandeep Jain

Financial Advisor | Posted 11 Jun, 2019

Credit cards are financial tools which allow you to purchase products and services with a  pre-set line of credit and repay the dues every month. Several financial institutions offer credit cards in India, and an applicant has to meet simple eligibility criteria to get one approved.

If you ask – what do you need to apply for a credit card, here are the factors to consider:   

Credit score – A minimum credit score of 750 or higher is necessary to avail a credit card.
Age – You must be between 25 and 65 years of age when applying.
Financial history – A good financial history is essential to get the best credit card. You must not be an existing defaulter.  
Monthly earning – Your monthly income should fall within a pre-set range decided by the financial institution you are availing the credit card from.

Along with the above mentioned criteria, you also have to submit some documents at the time of application. While the list may vary with financial institutions, NBFCs like Bajaj Finserv require only the minimum documents to approve their Bajaj Finserv RBL Bank SuperCard. Some of those include –

Identity proof – Any photo ID like passport, driving licence, Voter ID, PAN card, Aadhaar Card, etc. will act as identity proofs while applying for a credit card.

Address proof – Address proofs like electricity bill, post-paid telephone and mobile bill along with the above mentioned documents that have an applicant’s address will be required for an application.
Recent passport-sized photograph

A credit card company may ask for some additional documents as per requirements. Fulfil the eligibility criteria and other requirements to avail the best credit card as per your needs.