Credit card is used by the citizen to borrow funds for goods and services, the funds have to pay back to the credit card bank with applied interest. Nowadays, credit cards are one of the most important for online shopping, ticket booking, transactions, payment, etc. Value of credit card is increasing day by day and every earning citizen want to issue his/her credit card. The credit card has increased the value of online booking, shopping, payment, etc. Credit cards are a convenient alternative to cash for making a transaction online as well as offline too. If you want to apply for a credit card, follow the steps below.
There are several thing that you should know before applying for a credit card
Types of Credit Card:- There are a wide variety of credit card is available in the banks of India, every credit card has its own expertise and field of work. For example, if you are a beginner to apply for a credit card then you can choose beginner level credit cards with low income.
Your Income: – Your income is one of the most important things for a credit card. The credit card issuers will ask about your income in order to check your repayment capacity. Your income plays an important role while applying and issuing credit card from any bank.
Terms and Conditions: – The most important thing is to know all about the terms and conditions of the bank while issuing a credit card. When the card is issued to you that means you agreed with the terms and conditions from them and if anything happened by mistake then you will be blame or your credit score will go down.
Interest Apply: – Interest Apply is the charge from which credit card’s bank gain profit, so it one of the most strict things the bank work on. In case if you repay the amount that you borrowed through credit card from the bank, then you no need to pay any interest charges, but if you took the balance for the next month then a 30-40% of interest would apply on the next repay.
Fees and Charges: – There are different types of fees and charges for credit cards including fees and charges like joining fees, annual fees, transfer fees, finance charges, cash advance charges, foreign transaction fees, over-limit fees, and many more. Make sure you will know all about this before applying for credit and card in use too.
Late Payment Fees: – In case if you don’t pay your credit card bill for the month and pay the bill in the next month then you will be charged late payment fees from the bank. This will increase you to repay the amount to the bank for the credit card.
Apply For Credit Card
There are mainly two ways to apply for a credit card of any bank. One is online another is offline, you can choose any way for applying of credit card which comforts you and your needs The The main two ways are offline and online, you can opt, anyone, in which you feel comfortable applying for a credit card.
Online: Apply For Credit Card
The most famous way nowadays for applying credit card is the online way. There are simple steps you have to follow for applying the issue application of credit card. If you want to submit issue application for a credit card from any bank, just follow the steps :
- Go to the official web portal of the bank.
- Go to the credit card section, you will see apply now on the prorated.
- Fill up the details asked in application like Name, Phone Number, Email ID, Address, Average Monthly Income, etc.
- After confirming and submitting, you will get a call from a representative of the bank who will tell and guide you for the further do.
- You have to put some documents for applying for a credit card, a representative will come to collect the required documents from you.
Offline: Apply For Credit Card
If you don’t feel comfortable applying online, you can opt for the offline way. It is the conventional way of applying for credit cards. If you want to apply the issue application of credit card, just follow the steps
- Visit your nearby branch of that bank.
- Tell at the counter about you want to issue a credit card from the bank.
- An employee will suggest a credit card which suits your needs.
- You have to fill an application, necessary documents, and submit them to the bank.
After you submit the application the bank will look into your case and investigate your documents like Income Proof, Address proof, Identity Proof, etc.
- All the documents of the applicant which are submitted should be legal and genuine.
- The applicant must be 18 or 18+.
- The applicant must have a monthly income.
- Applicant should have a good credit score of around 700.
Documents Required (Any One)
- Identity Proof – PAN Card, Passport, Adhar card, Voter ID, or employee identity card in case of government employees.
- Address Proof – Ration Card, Voter ID, Rent agreement, telephone/electricity/water bill, or any other government document.
- Age Proof – Birth Certificate, Secondary school certificate, Voter ID, Passport.
- Income Proof – Income tax returns, Salary slips, Last six months bank statement.