RBL Credit Card Documents and Eligibility

RBL Credit Card Documents and Eligibility

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RBL Documents & Eligibility

A credit card is an essential requirement in order to keep up with the demands of modern lifestyles. A credit card enables you to buy products that may not be able to pay for upfront, and you can repay it over a period of time.

RBL Credit Cards

While India has several banks offering credit cards, Ratnakar Bank Limited (RBL) has emerged as a lender which offers great benefits to users with its credit cards. Factors which determine your Bajaj Finserv credit card eligibility are similar to factors which determine your RBL credit card eligibility as well. It is important to know your RBL bank credit card eligibility in order to ensure a seamless process at the time you actually need to apply for a credit card

RBL Credit Card Eligibility

Among the credit card companies in India, meeting the Bajaj credit card eligibility criteria is the easiest. If you have met the Bajaj Finance credit card eligibility criteria, the RBL credit card you apply, eligibility will be no problem. It is important that you do your RBL credit card eligibility check before you begin the application as that will ensure you face no problems later. Read on below to learn the different criterion, and whether your RBL bank credit card eligibility check requires any more fine-tuning.

  • Age:

Age is perhaps the biggest determinant of whether you meet the RBL card eligibility criteria. Only persons aged between 21 to 65 years can apply for and avail a RBL credit card.

  • Employment Status:

Applicants for RBL credit cards need to be either self-employed or salaried professionals. This is to ensure that only applicants with a steady source of income avail RBL credit cards. When you apply for an RBL credit card, documents required will include proof of your employment status and income. RBL also offers credit cards for students with low interest rates & exciting offers.

  • Income:

Regardless of whether you are a self-employed or salaried professional, you will be required to draw an income of more than Rs. 25,000 each month in order to avail a RBL credit card.

RBL Credit Card Eligibility for Professionals:

Criterion

Self-Employed Professionals

Salaried Professionals

Age

25-65 years

25-65 years

Income

>Rs. 25,000 per month

>Rs. 25,000 per month

While the above listed criteria are the basic criteria any applicant has to meet for availing an RBL credit card, there are more specific criteria for the different credit cards issued by RBL. Some of them may require a certain income limit, while others may have an upper limit on the applicant’s age.

To demonstrate eligibility, you will be required to share documentation to that effect. Even when you apply for a Bajaj Finserv credit card, documents required will be to the similar effect of demonstrating your eligibility. While most lenders ask for similar documents, the eligibility criterion may differ.

There are also several factors that affect the eligibility criterion and RBL credit card requirements from its applicants. Read on to learn more about these.

Factors Affecting RBL Credit Card Eligibility Criteria

  • Age

    Age is one of the most important factors affecting an applicant’s eligibility for availing a credit card. If an applicant is too young or too old, their application may be rejected on no other grounds but these.

  • Credit Score

    Even before you are asked to share the documents required for RBL credit card, your credit score will be assessed by the lender. The credit score denotes your reliability as a borrower and is a huge factor in whether your application will be approved or rejected.

  • Debt-to-Income Ratio

    As soon as you apply for an RBL bank credit card, documents will be assessed to analyse your debt-to-income ratio. The lender will prefer lending to a borrower with a lower debt-to-income ratio as compared to somebody with a higher debt-to-income ratio as it indicates that the borrower will be able to repay the credit card dues with ease.

  • Other Credit Card Dues

    For availing a RBL credit card, documents will need to be furnished by you to demonstrate whether or not you have any outstanding dues on any prior credit card. This will show the lender whether you can be trusted to repay your credit card dues.

  • Multiple Credit Enquiries

    If you have made multiple enquiries for credit cards, loans or other forms of capital; it will reflect badly on your RBL bank credit card eligibility. Even Bajaj credit card requirements mandate that the applicant must not have made more than a certain number of credit enquiries.

How to Improve RBL Bank Credit Card Eligibility?

While there are many factors that affect your application for a credit card from RBL, it is important to understand that there are ways for you to improve your chances as well.

Read on to learn about how to align your financial story with RBL bank credit card requirements.

  1. It is important to improve your credit score by closing your existing unused bank accounts and even increasing your total income

  2. Ensure your debt-to-income ratio is high by paying off outstanding amounts on other credit cards and repaying any loans you may have availed earlier.

  3. Once you have submitted a credit card application to RBL, ensure you don’t approach any other lender.

  4. Pay all bills in a timely manner and avoid fees and fines on delayed payments.

Documents Required for RBL Credit Card

For an RBL credit card, documents required are for multiple purposes. Read on to learn about which you need to be prepared with.

  1. Proof of Address: You can share your Aadhaar, driving license or voter’s ID

  2. Proof of Identity: You could share your bank statement, driving license, voter’s ID or your pension book

  3. Proof of Income: You will be asked your bank statements, ITR and the payslips issued by your employer

  4. PAN Card is a mandatory document

  5. Passport size photos will also need to be shared

FAQs

  • ✔️Who is eligible for an RBL Credit Card?

    Only salaried or self-employed professionals can avail RBL Credit Cards.

  • ✔️What is the minimum salary required for an RBL Credit Card?

    The minimum salary required for availing an RBI Credit Card is Rs. 25,000 on a monthly basis.

  • ✔️Can a student apply for an RBL Credit Card?

    While students are not usually eligible for availing RBL Credit Cards, you can reach out to them and get an understanding of products that are accessible to students.

  • ✔️How do I apply for a RBL Credit Card?

    Visit the RBL website and click on ‘Credit Cards’ to get started on the process of availing a credit card. You can also reach out to them over the phone or visit your nearest branch.

  • ✔️Will my existing credit cards affect my application for an RBL Credit Card?

    Yes. Since your existing credit cards affect your credit score, it will have a role to play on your application for an RBL Credit Card as well.