Credit cards are probably the most convenient way to borrow money and make purchases, even if you are currently short on cash. That is when you feel compelled to obtain a credit card. However, before making purchases with your credit card, you must first apply for one and be authorized for one.
Let’s look at how to apply for a credit card even if your bank does not provide you with a pre-approved one!
Credit Card Application Process
You may apply for quick approval credit cards and select from a variety of credit card options on your selected bank’s website.
- Check the eligibility criteria
- Decide whether or not to apply for the card.
- Fill out the complete application form
- Upload any required documents.
How to apply for a credit card
There are several ways to apply for a credit card. You may apply online at your favorite bank’s website, or if you want to receive a card from your current bank, you can do so effortlessly using net banking. You may also apply for a card by visiting your selected bank’s local branch like a DBS Bank credit card.
However, if you want to research cards from several banks that you could be qualified for before applying. All you have to do with the New Credit Card Application Process is verify your eligibility and go through the features of the cards that are available to you. Then apply for the credit card that appeals to you the most.
Required Documents to apply for a credit card
You may begin your application here for any card like the Bajaj Finserv DBS Bank Credit Card. To complete your Credit Card application, you must supply identification, residence verification, a copy of your PAN card, and evidence of income.
- Aadhaar, passport, driving license, ration card, voter ID, and other forms of identification are acceptable.
- Aadhaar, passport, driving license, rental agreement, utility bills, and so forth.
- Income/employment documentation – bank statements, salary stubs, Form 16, etc.
Some credit card companies offer 100% paperless application procedures, which means you won’t have to send physical papers unless the lender specifically requests them.
Selecting a Credit Card
After you have met the eligibility requirements, you must decide which instant credit card to apply for. It is critical to understand the features of your credit card before applying for one online.
- Credit card EMI tenure: The primary reason for having a DBS Bank credit card is to borrow money from a bank and then repay it in easy installments. As a result, it is critical to compare credit card interest rates and select an affordable EMI tenure.
- Type of Card: The type of card you can use depends entirely on your financial objectives, income, and credit score. Therefore, if you frequently travel, consider a travel credit card, which provides advantages like travel insurance, global acceptance, and favorable exchange rates.
- Cash withdrawal facilities: Look for a credit card that lets you withdraw money from ATMs all around the world. Most credit cards provide cash withdrawal options with a small fee based on the amount withdrawn.
- Joining and annual fees: There will be a joining fee unless you apply for a credit card that is free forever. You can choose a credit card with no annual fee or one with an annual fee.
- Credit Capacity: The credit limit is the maximum amount of money you can borrow from the card’s issuer. The credit limit is determined after a credit history check. Depending on your credit history, the Credit limit may vary from a few thousand to lakhs. Even if your credit card has a high credit limit, don’t go over it.
- Spending Habits: Another important point to consider when choosing a Credit Card is spending habits. If you intend to make large purchases with the card, pick one with a high credit limit and low-interest rate. Additionally, choose a credit card with a strong rewards program so you can benefit from cashback or other rewards for using the card.
- Reward points: Credit cards can earn you reward points, which you can use to get discounts on shopping, dining, and flight bookings, as well as cashback on fuel purchases.
- Global Acceptance: Most credit cards issued in India today are international credit cards that are accepted by merchants all over the world.
Summing Up!
If you have been using your debit card to make online purchases and have a good credit score and financial history, your bank will consider you a “special customer.” You will also be offered the option of applying for a pre-approved credit card. This means that having good financial habits will allow your bank to contact you and offer you a pre-approved credit card. Going via this approach eliminates the headache of applying while your bank handles everything!
