Axis Bank Credit Card Eligibility And Documents

Axis Bank Credit Card Eligibility

Axis Bank offers some of the most exciting credit cards. Before applying for any Axis Bank Credit Cards variant, it is important to know whether you fulfil the Axis Bank credit card eligibility. For this, you must first check the eligibility criteria set by the bank. The bank asks you to fulfil some basic criteria like age, Indian residence certificate, and a regular source of income if you want a credit card. Depending on the card type, the eligibility criteria may vary slightly. 

The basic Axis Bank credit card eligibility criteria that you must fulfil in order to apply for an Axis Bank credit card are:

• You must be a minimum of 18 years of age at the time of credit card application

• You must not be over 70 years of age at the time of credit card application

• You must be a resident of India

• You must have a regular source of income

• You must have a healthy credit history at the time of credit card application. Ideally, a CIBIL score of at least 700 is required to be eligible to apply for a credit card

• In case you already have a credit card, you might be asked to show transaction proof such as credit card statements from last year to assess your credit card history and other details

• In case you are applying for an add-on card, they should be at least 15 years of age

Eligibility and Documents Required for Top Axis Bank Credit Cards

Listed below is a table of different Axis Bank Credit Cards, documents required and Axis Bank credit card eligibility criteria:

Important Note: Please note that these Axis Bank credit card requirements are only indicative. Axis Bank reserves the final right to approve or decline credit card applications based on their assessment.

Documents Required for Axis Bank Credit Card

Now that you know how to work your way around the Axis Bank credit card requirements in terms of eligibility, let us move on to the next crucial process: documentation. The following are the Axis Bank credit card documents required at the time of submitting a credit card application:

Axis Bank Credit Card Documents for Proof of Identity

• Aadhaar card

• PAN card

• Passport

• Voter’s ID

• Driver’s licence

• Any other govt-approved photo identity proof

Axis Bank Credit Card Documents for Proof of Address

• Aadhaar card

• Utility bills (not older than 3 months)

• Passport

• Any other govt-approved identity proof

Axis Bank Credit Card Documents for Proof of Income

• Form 16

• Salary slips from the past three months

• Bank statement for the past three months

• Audited financial records for the past 2 years (if you’re self-employed)

Factors Affecting Axis Bank Credit Card Eligibility

When it comes to requirements for Axis bank credit card, the following factors must be taken into consideration:

• Annual Income

Generally, the chances of credit card approval are higher if you have a high annual income. Make sure you calculate all your earnings while filling in the income details in the application form. Salaried individuals need to present their monthly salary slips, and self-employed individuals need to submit their income tax returns.

• Debt-to-Income Ratio

Your Debt To Income (DTI) ratio must be low to improve your chances of being eligible to apply for an Axis Bank credit card. If it is below 50% then you have better chances of getting a credit card of your choice. You can calculate your DTI by dividing your gross monthly debt by your total monthly income.

• Your Ongoing Liabilities

If you have too many loans in your name, it may be difficult for you to get a credit card. Your existing loans become all the more important when the repayment amount is almost as high as half your income. In such a scenario, the lender may reject your application.

• Credit Score

It is important to have a good credit score to improve your chances of credit card approval. Generally, a credit score above 750 is considered good by banks. The higher your credit score, the higher would be your chances of getting a credit card approved.

• Customer to Bank Relations

In case you have a salary or savings account with Axis Bank, you have a better chance of getting a credit card. Your relations with the bank also affect your Axis Bank credit card eligibility.

• Other Factors

A credit card issuer also takes into consideration factors such as the number of credit cards issued in your name, job stability, credit inquiries, etc., while gauging your Axis Bank Credit Card eligibility. 

Tips To Improve Axis Bank Credit Card Eligibility

You must focus on your eligibility to apply for a credit card in order to make sure that your credit card application assessment happens smoothly. Following are some of the tips to improve Axis Bank credit card eligibility:

• Maintain a good CIBIL score, preferably above 750

• Do not miss any payment deadlines. For instance, loan repayment or monthly EMI

• Maintain your credit utilisation ratio

• Don’t make too many hard enquiries for credit cards

• Try maintaining a rational debt-to-income ratio

• Beware of cheque bounces/penalties on all active credit lines

• Try to increase the gap between your income and total debt for better a credit deal