You walk into a clothing store, choose a nice shirt, go to the payment counter, use your credit card, get the bill with a receipt, and come out of the store with all your goods. This entire process was quick and took only a few minutes.
You do not have to worry about carrying sufficient cash because, with a credit card, you can make instant payments for any expense in a cashless manner.Whether you want to travel, dine, or shop, your credit card can fulfil all your needs. Besides ease of use and quick pay-back options, you can enjoy various discounts, offers, and deals as a credit card holder.
Applying for a credit card online can be completed with just a few clicks. However, searching for the right credit card and getting your application approved is a challenge. Read on to know more about different credit cards, eligibility criteria, documents to be submitted, and the easiest way to apply online.
Different types of credit cards
While there are many types and sub-types or variants are available, the primary categories are listed below:
- Classic credit cards
- Rewards credit cards
- Business/corporate credit cards
- Cashback credit card
Compare the features of different credit cards and then apply credit card online that fits your specific requirements.
Eligibility for credit card
Although the eligibility criteria for credit cards differ from institution to institution, the essential requirements to meet are:
- You must be between 18 to 65 years.
- Each financial institution has a certain minimum income requirement as eligibility criteria. You can either be self-employed or a salaried employee. Ensure you have a regular income and show relevant proof (bank statements, ITR, etc.).
- You must be an Indian citizen.
- Your credit usage ratio should be within an acceptable level.
Documents required to apply for an online credit card
A financial institution may ask you to submit certain documents to approve your credit card. The most important ones include:
- ID proof: Passport, Permanent Account Number (PAN) card, Aadhaar Card, Voter’s ID
- Residential proof: Aadhaar Card, Electricity bill, Telephone bill
- Income proof
- For salaried individuals: Salary certificate, recent salary slips, or employment offer letter in some cases
- For self-employed individuals: Certified financials, recent Income Tax Returns (ITR) statement, passport
The process of applying for a credit card online
You need to follow the below-mentioned steps to apply for a card online on your preferred institution’s website:
- Visit the website
- Go through the best credit cards offered
- Compare their features, offers, and benefits
- Choose the card that fits your needs and click the ‘Apply’ button.
- Fill in the required details and upload the necessary documents.
- Submit your form
Note: The online credit card application procedure can vary from one financial institution to another. You can visit their online website and read the necessary details regarding how to apply for a credit card online.
IDFC FIRST Bank’s credit card application process is among the quickest. The bank’s digital-first approach speeds up the application and approval process. IDFC FIRST Bank also offers several credit cards, eachwith its industry-best USP.
