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How to Apply for a Credit Card for the First Time

If you have never used a credit card before, you may be unsure about how to get a card from your preferred bank. Fortunately, owing to the rapid development of technology, most banking and related services can now be accessed online. This means you can easily apply for a credit card for the first time online, from the comfort of your home.

Here is how you can get your credit card online.

  • Step 1: Visit the official website of Bajaj MARKETS.

  • Step 2: Fill in your contact information and other personal details as needed.

  • Step 3: If you already have an offer, you can browse through the credit card options available on the site.

  • Step 4: Choose the credit card that perfectly meets your requirements and aligns with your spending habits.

  • Step 5: Take a look at the eligibility criteria for your preferred credit card.

  • Step 6: If you are eligible, fill out the credit card application form.

  • Step 7: Submit the duly filled form and wait for the card issuer’s approval.

Alternatively, you can also choose to get your credit card offline, using the following steps.

  • Step 1: Visit a branch office of your preferred bank.

  • Step 2: Speak with one of the bank’s credit card representatives to get a better idea of the right card for your needs.

  • Step 3: Fill out the credit card application form.

  • Step 4: Submit the form along with any other documents that may be required.

  • Step 5: If your application is approved, you will receive the credit card within a few days at your registered address.

How to Choose Your First Credit Card

There are many good credit cards for beginners. But before you apply for one, you need to take different factors into account, such as the following 

  • Fees and Charges:

There are different fees and charges associated with credit cards. Some of these include —

  1. Joining fees payable when you sign up for your card

  2. Annual fees levied as a flat charge every year

  3. Finance charges, also known as interest

  4. Late payment fees if you miss a payment

  5. Foreign markups on international transactions

If you are getting a credit card for the first time, it is best to opt for a card that has low charges and fees.

  • Free Credit Period:

The free credit period is the period during which you can pay your credit card dues without the burden of interest. This period ranges from the date of the transaction till the due date. It can be around 40 to 50 days, depending on the card and the date of the transaction. The longer the free credit period is, the better it is for beginners, since you’ll have more time to settle your dues.

  • Interest Rates:

Interest rates are of particular significance when you are getting a credit card. In most cases, the credit card interest rate can range from 40% to 50% per annum. The best credit cards for beginners typically have lower interest rates than average.

Best Credit Cards for Beginners

If the sheer number of the options available is overwhelming for you, here are the top 5 credit cards for beginners that you can consider.

  • ICICI MMT Platinum Credit Card

One of the best credit cards for beginners, the ICICI MMT Platinum credit card has the following features:

  1. ₹ 500 MyCash on joining

  2. A MakeMyTrip holiday voucher worth ₹ 3,000 on joining

  3. Complimentary domestic airport and railway lounge access

The fees and charges for this card are as follows —

Particulars

Amount

Joining Fee

₹ 500

Annual Fee

Nil from the second year onward

 

As for the eligibility, all you need to apply for this credit card is a valid fixed deposit with ICICI Bank. The minimum deposit amount is ₹ 20,000, and the minimum tenure of the FD is 180 days.

  • SBI Unnati Credit Card

This is also a great credit card for first time users. The SBI Unnati credit card offers many benefits and features including the following —

  1. 1% fuel surcharge waiver for transactions between ₹ 500 and ₹ 3,000

  2. ₹ 500 cashback within 15 days of recording an annual spend of at least ₹ 50,000

  3. ₹ 1 reward point for every ₹ 100 spent on your card

The fees and charges for this card are as follows —

Particulars

Amount

Annual Fee

Nil for the first 4 years

Renewal Fee

₹ 499 from the fifth year onward

 

As for the eligibility, all you need to apply for this credit card is a valid fixed deposit with SBI of ₹ 25,000 or more.

  • ICICI MMT Signature Credit Card

If you are a first time credit card user, the ICICI MMT Signature Credit Card is another credit card that you can consider getting. Check out its top features below.

  1. ₹ 1,500 MyCash on joining

  2. Complimentary MMTBLACK Exclusive membership and a MakeMyTrip holiday voucher worth ₹ 2,500 on joining

  3. Complimentary international and domestic airport lounge access, and domestic railway lounge access

The fees and charges for this card are as follows —

Particulars

Amount

Joining Fee

₹ 2,500

Annual Fee

Nil for the first 4 years

 

  • Axis Bank Freecharge Plus Credit Card

This credit card gives you a lot of cashback rewards, making it suitable for beginners who are applying for their first card. Its features include the following —

  1. Vouchers worth ₹ 700 on your first transaction within 30 days

  2. 5% cashback on Freecharge spends

  3. 2% cashback on the amount spent on your local commute

  4. 1% cashback on all other expenses

The fees and charges for this card are as follows —

Particulars

Amount

Joining Fee

₹ 350

Annual Fee

Nil for the first year

₹ 350 from the second year, waived off if your annual spend is more than ₹ 50,000

 

The eligibility for the Axis Bank Freecharge credit card is determined on the basis of an invite only model. If you are eligible for this card, you will be able to view the banner on the Freecharge app.

  • ICICI Platinum Visa Credit Card

If you are planning to apply for a credit card for the first time, the ICICI Platinum Visa card has many beneficial features to offer, such as —

  1. 2.5% waiver on fuel surcharge at Hindustan Petroleum Corporation Limited (HPCL) petrol pumps

  2. 2 reward points on every ₹ 100 spent on retail purchases

  3. 1 reward points on every ₹ 100 spent on utilities and insurance

The fees and charges for this card are as follows —

Particulars

Amount

Joining Fee

Nil

Annual Fee

Nil

 

Salaried people with a minimum income of ₹ 30,000 per month and self-employed individuals with a minimum income of ₹ 50,000 per month are eligible for this card.

About Credit Cards

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FAQs About Credit Card for Beginners

✔️Which credit card should I get as a beginner?

The best credit cards for beginners are those that don’t have an annual fee and give you plenty of rewards. It also helps if the card issuers report to all the major credit bureaus, so you can build your credit history quickly.

✔️What is the easiest way to get a credit card with no credit?

If you have no credit, or if you are a first time credit card user, you can opt for prepaid credit cards or secured credit cards. 

✔️Which bank gives credit cards easily?

Most leading private sector banks and non-banking financial institutions have easy application procedures. You can also get a credit card easily on Bajaj MARKETS. 

✔️Which is the best credit card for beginners with no credit?

The best credit card for beginners with no credit would be a secured credit card, since it is easier to obtain and also helps you build credit history.

✔️Which is the best credit card for beginners with no annual fee?

Many credit cards give card holders the benefit of zero annual fees. Some top cards in this category include the ICICI MMT Platinum Credit Card, ICICI MMT Signature Credit Card and the ICICI Platinum Visa Credit Card.