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Credit card issuers have certain eligibility parameters that you’ll need to meet, in order 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.

Key Highlights of Credit Card Eligibility

Here are some of the eligibility criteria necessary to secure a credit card in a nutshell:

Particulars

Details

Age

You should be at least 18 years old. Age eligibility differs from bank to bank.

Income

Income requirements can vary from issuer to issuer. 

Employment

Most banks give credit cards to salaried or self-employed individuals and business owners.

Interest-free Period

The number of interest-free days can depend from bank to bank.

ATM Cash Withdrawal Charges

These charges range from 2.0% to 3.5% of the amount withdrawn.

Factors Affecting Your Credit Card Eligibility

Here are the key factors that you should understand when it comes to credit card eligibility:

  • Age: Most banks welcome applicants starting at 18, but some set the bar higher. So, check individual requirements before diving in.

  • Credit Score: Think of this as your financial report card. A score above 750 generally bodes well, while lower scores might require extra effort.

  • Employment: A stable income is crucial to issuers and self-employed individuals are required to furnish income proof to support this. 

  • Income: The higher your earnings, the higher your potential credit limit. Don't forget to mention any supplementary income sources!

  • Beyond the Basics: Credit utilisation ratio and even your location might play a role in some cases. Remember, thorough research is your friend!

How to Check Your Credit Card Eligibility

Here’s how you can check your eligibility for credit cards on Bajaj Markets: 

  • Visit the ‘Credit Cards’ page and navigate to the ‘Check your Credit Card eligibility!’ section on the top

  • 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 and contrast these cards to choose one that suits you best. 

Frequently Asked Questions

What is the minimum salary requirement to apply for a credit card?

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.

What is the minimum age to get a credit card in India?

The minimum age to get a credit card is 18 years. This may, however, vary based on the bank and the card type.

What are the eligibility criteria to upgrade my credit card?

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.

Do I need proof of income to get a credit card?

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.

Can I get a credit card with a ₹10,000 salary?

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.

How to get a ₹1 Lakh credit card limit?

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. 

Is it possible to obtain a credit card on the same day I apply for it?

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.

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