Know what needs to be followed to be eligible for the credit card application
Credit card issuers have certain eligibility parameters that you’ll need to meet, to apply for said credit cards. Generally, you’d need to have a regular source of income and a good credit score to qualify for most credit cards. This, of course, can vary depending on the credit card issuer’s policies and the card variant.
You can keep the following pointers in mind if you’d like to improve your chances of getting a credit card:
Maintain a good credit score by paying bills on time and managing existing credit responsibly
Choose a card that aligns with your income and spending habits
If you're a student or have limited credit history, consider starting with a secured credit card, which requires a security deposit
Maintain a good banking relationship with timely transactions and account management
Here’s how you can check your eligibility for credit cards on Bajaj Markets:
Navigate to the ‘Check your Credit Card eligibility!’ section
Fill in the form with the required information such as your employment type, mobile number, and date of birth
Enter the OTP sent to your mobile number to view your credit card eligibility
That’s about it! You’ll be presented with a list of credit cards that you’re eligible for. You can compare these cards to choose the one that suits you best.
In most cases, having a monthly salary above ₹25,000 is good enough to get a credit card. However, it will vary based on the credit card type and whether you are a salaried or a self-employed individual.
The minimum age to get a credit card is 18 years. This may, however, vary based on the bank and the card type.
If you are looking to upgrade your existing credit card, you must have a good credit score, payment history, and a stable source of income. All these things will help you to upgrade your credit card.
You can visit the nearest branch of your bank to upgrade your credit card, or you can also request bank executives to visit your place. In addition to all these things, sometimes banks take the initiative to upgrade your credit card by knowing your interest and checking your credit card expenses.
Yes, most banks will ask you for proof of income to check your status of employment. This tells them whether you are a salaried or self-employed professional, or run your own business. It also proves to the bank that your income is sufficient so that you can pay off all your monthly credit card bills. Documents that can be submitted as income proof include tax return copies and salary slips.
An income of more than ₹25,000 is generally preferred. However, you can check the credit card eligibility criteria set by different banks and financial institutions. If any credit card issuer offers cards to applicants with a salary of ₹10,000, you can proceed to apply for the same.
The credit card limit is set by the credit card issuer. It depends on factors like the income and the credit score of the applicant. To get a high credit limit of ₹1 Lakh, you can ensure that you have a high credit score and a good credit profile. If your income has recently increased, you can let the card issuer know this, so you may be eligible for higher credit limits.
No, credit cards are generally not issued on the same day you submit your application. This is because banks and other entities that issue credit cards need time to verify your credit card eligibility and approve your credit card application.