Who can apply for a credit card in India? - Letsdiskuss
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Posted 01 Aug, 2019 |

Who can apply for a credit card in India?

alvina clair

Financial adviser | Posted 01 Aug, 2019

Eligibility criteria for applying a credit card in India is as follows:

The applicant should be a resident of India.

The age of the applicant should be 18 years and above.

The applicant should have a regular and stable source source of income.

For applying a credit card, a CIBIL score of 750 and above is required.

You can visit bank's website or online aggregators for checking the eligibility critera and other terms and conditions of credit card. Using credit cards has a lot of benefits as you get cashback and earn reward points. For easy application of credit cards, apply through online aggregators as it saves your precious time and they asssist you during the entire process as and when required.

Sandeep Jain

Financial Advisor | Posted 01 Aug, 2019

Credit cards had come a long way ever since their introduction in the Indian market back in 1981. Until a few years, these payment modes remained a product of luxury for the higher income group. Today, credit cards are a necessity for the salaried or fixed income class for their convenience and utility.

Card issuing companies have relaxed the credit card eligibility criteria to make these payment tools more accessible. Anyone can get a credit card if he or she meets all the eligibility criteria set by the respective financial institution. Eligibility is also one of the reasons for declining a credit card application.
Generally, following are the parameters based on which most providers consider an applicant as eligible.

Age bracket

It is a crucial parameter which ensures cardholders understand the utility and transact responsibly with credit cards. Individuals with a minimum age of 25 and a maximum of 65 are eligible to apply for the payment card.   


Indian citizenship is a must with valid documents to apply. Besides, applicants must be residing within the country, in the preferred locations of the issuing company if any.

Credit profile and CIBIL score  

CIBIL score is a numerical expression signifying the creditworthiness of an individual. On the scale of 300 to 900, a score of 750 is considered as the minimum score to qualify the credit card eligibility criteria.

Credit profile contains the record of an individual’s financial behaviour, payment history, number of credit availed, existing debts, defaults in making payments, etc. A poor credit history with records of payment defaults can lead to the rejection of an application.

Alternatively, you can use credit cards to increase your CIBIL score. Paying off the monthly bills on or before the due dates every month improves the score and strengthens your credit history. You can then request an increase in credit limit or avail a loan easily.

Monthly obligations or FOIR   

FOIR or Fixed Obligation to Income Ratio is a vital credit card eligibility parameter which assesses one’s repayment capability. It is determined by considering all the existing monthly obligations of the applicant in comparison to his or her monthly income. Individuals must maintain a FOIR below 30% to 50% to get a credit card effortlessly.

The general formula to calculate FOIR is: (Sum total of the current obligations / net monthly salary) x 100.
If your FOIR is high, try to reduce your existing obligations by paying off debts and enhance the chances of credit card approval.

Applicants may need to fulfil other requirements as well depending on the issuing company. Approach a financial institution such as Bajaj Finserv which offers easy-to-meet eligibility criteria and a simple online application form for the Bajaj Finserv RBL Bank SuperCard.

Existing customers of Bajaj Finserv can also avail pre-approved offers on credit cards, personal loans, business loans, home loans and a host of other financial products. Not only do these offers make the procedure simplified but also saves time. Provide a few basic details such as contact number, name, etc. to check your pre-approved offer instantly.

Nowadays, receiving approval on the new card application is quite easy and simple. Meet all the credit card eligibility parameters and avail the best card with exclusive features and benefits.