In today’s world, owning a credit card can make every task seamless. Credit cards are a great solution to the inconvenience of carrying cash everywhere, from restaurants to cabs to shopping malls. With a credit card, you can get access to a line of credit that you can use to pay for anything — from a few thousand rupees bill at a restaurant to a few lakhs for a luxury purchase. But that’s not it; credit card companies design their cards so that people can also earn some money while spending some. For instance, many shopping credit cards offer cashback for making purchases at particular places they’re partnered with.
Not just that, if you are an avid traveler, having a travel credit card might be one of the best decisions you can make. Travel credit cards have accelerated rewards for purchases you make abroad, and additionally, offer you air miles as rewards. Over time, these air miles will add up to give you flight tickets for free.
How to apply for a credit card online in 3 quick steps
Although people were limited by the various myths around credit cards for a long time, a lot of people are now beginning to break away from those misconceptions. As people begin to recognize the perks of owning a credit card, the number of credit card users in India is on the rise like never before. As of 2020, there are 57.4 million credit card users in India. However, the market is still nowhere close to saturation; more people are signing up for credit cards every day. If you’re looking to apply for a credit card, here is how you can get one in 3 easy steps.
1. Choose the credit card you want
The first step is to determine which credit card you should go for. Different categories of credit cards have different perks. Shopping credit cards are often partnered with online and offline shopping giants, so you can earn cashbacks and reward points every time you shop from them. That said, reward points are not just limited to purchases from partnered stores.
There are also lifestyle and entertainment credit cards that provide great offers on movie tickets and other lifestyle spends. Other popular types include travel credit cards, fuel credit cards, and corporate credit cards, all of which can have their own perks and rewards. For people with a poor credit score or no credit profile at all, secured and prepaid credit cards are a great option. Secured credit cards require you to submit a fixed amount of money as collateral against which you are given a credit card.
For prepaid credit cards, you’re only allowed to spend the amount of money that you deposit in your prepaid bank account.
Knowing about a credit card’s joining fee, annual fee, credit limit and offers should be enough to decide on an ideal one.
2. Check the eligibility criteria
Credit card companies take huge risks with every credit card they issue. Credit card issuers also need applicants to have a verifiable source of income, so they can issue you a free credit card.
So, they make sure that you’re eligible to handle the credit card responsibly. In order to make sure that you’re capable of paying your dues on time, credit card issuers will check your credit history and credit score. Therefore, to be eligible for a credit card, make sure that you maintain a good credit score by paying all your existing credit card bills and EMIs by their due date.
3. Get your documents and fill up the application form online
Before filling up the application form for your credit card, you need to arrange for the documents that will serve as proof of your identity, address, and income. To get yourself a new credit card, apply online by visiting the issuing bank or institution’s website, fill the online form, see if you have been pre-approved for a card, and submit the necessary documents. It is that simple.
The Bajaj Finserv RBL Bank SuperCard, for instance, is an extremely versatile credit card that offers customers immense rewards and cashback in multiple fields. To get the credit card apply online by visiting the Bajaj Finserv website. You can also track the status of your application online.