Here are some of the eligibility criteria necessary to secure a credit card in a nutshell:
Age |
You should be at least 18 years old. Age eligibility differs from bank to bank |
Income |
Individual banks set the minimum monthly salary, annual income or fixed deposit against which the credit card is issued |
Employment |
Most banks give credit cards to salaried or self-employed individuals and business owners |
Interest Free Period |
Up to 55 days. This number can differ from bank to bank |
ATM Cash Withdrawal Charges |
These charges form 2.0% to 3.5% of the amount withdrawn |
You can use the eligibility for credit card checking feature available on Bajaj Markets to see which cards you are eligible for.
Step 1:Click on the ‘ Apply Now ’ option on the Bajaj Markets’ credit card page.
Step 2:Select your profession, enter your registered mobile number, your date of birth in DD/MM/YYYY format, and your name as per your PAN card.
Step 3:Click on the ‘Check Your Offer’ option.
Step 4:Validate with the OTP sent to your registered mobile number.
Step 5:You will be able to view the list of credit cards you are eligible for.
The following are the documents required for you to meet the criteria for eligibility for credit card.However, the required eligibility documents may vary from one bank to another.
Filled in application form
Identity proof (photocopy of Aadhaar Card, or PAN Card, or Passport, etc.)
Passport size photographs
Residence proof (driving licence, or utility bills, or Aadhaar card, or PAN Card, etc.)
Recent salary slips
Bank statements
Form 16
If you are a self employed individual, the following are the documents you need to submit to meet the criteria for eligibility for credit card:
If you are a student applying for a credit card, you are required to present your student ID card while making an application.
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. You can check the Axis Bank credit card, RBL Bank credit card, SBI credit card, ICICI Bank credit card eligibility requirements, etc., on the Bajaj Markets website/app to understand more.
The minimum age to avail of 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, on-time 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 a 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.
You can figure out the best credit card for your own needs by keeping in mind a few points such as your credit score and lifestyle. For instance, your credit limit will be determined by your credit score. Banks offer various types of credit cards with rewards points programmes that cater to different lifestyles like travel, dining, online shopping etc. You can go for a credit card that offers the most and best rewards points for your needs.
Yes, non-resident Indians (NRIs) and persons of Indian origin (PIOs) can apply for credit cards in India. NRIs and PIOs can make use of such credit cards to avoid foreign transaction fees and have easy access to funds.