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    Credit Card Eligibility Details

    Credit cards provide short-term credit to meet a variety of expenses, usually relating to shopping, dining, travel etc.

    Eligibility Requirements for Credit Cards:

    The eligibility varies greatly not only across lenders but also for every card offered by a each lender. Each card offering is designed to suit certain spending needs of different categories of customers. Some basic eligibility requirements to be met are given below:

    Income (Minimum) Rs.75,000 upwards
    Age Between 18 yrs. and 70 yrs.
    Area of residence Urban / Non-urban
    Employment Status Salaried /Self-Employed
    Employment Tenure At least 1 yr.
    Credit history Good; no defaults

    Documentation Requirements for Credit Cards:

    Minimal documentation is required to apply for a credit card. It depends on the lenders norms. The following are among the commonly needed documents:

    • Salary Slips
    • Bank Statements
    • Employer’s certificate
    • Audited statement of accounts
    • Proof of business/profession
    • PAN number
    • Residence and Office address proofs such as Utility Bills, Lease Agreement, Passport, Driving License etc.
    • Photographs along with the application form duly signed
    • Photo ID such as Passport, PAN card, Driving License etc.

    How to enhance eligibility for a credit card?

    • Maintain a good credit score by making payments on all existing cards and loans on time and not defaulting on payments
    • Show stability in income earned/profits and good prospects for future earnings
    • Show good personal asset-liability and expenses management
    • Maintain low credit/pay off existing loans before taking on additional debt

    Check your eligibility for a credit card:

    The sheer volume of cards on offer is daunting to any person wishing to choose a credit card suited to their needs.

    Given that every card can differ in its eligibility requirements, Bank Bazaar has provided a convenient way to determine the card that one is eligible for. By inputting key details on their background, users get quotes on suitable cards instantly and at no cost.

    They can then compare the cards they are eligible for and choose the one most apt for their spending needs. Once decided, they can apply for the card at Bank Bazaar’s site availing of great deals offered exclusively in collaboration with partner card issuers.

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