CitiBank Credit Card Eligibility
Citibank offers a wide range of financial products with excellent features and benefits. The credit cards offered by the bank are one of the most sought-after cards in India. From travel credit cards and cashback cards to shopping and lifestyle cards, the bank offers exclusive cards to meet the requirements of their cardholders.
If you are planning to get a Citibank credit card, you will have to meet the eligibility criteria set by the bank. The eligibility requirements differ from card to card.
General Eligibility Criteria To Apply For A Citibank Credit Card
||For all Citibank credit cards
Minimum age of the applicant*
Maximum age of the applicant
Self-employed or salaried individuals
Minimum annual income**
Differ from card to card
*The minimum age of the applicant differs from one card to another. It also depends on the type of credit card you are applying for. Citibank reserves the rights to determine the age of the applicant.
**The income criteria differs from card to card. Please check with Citibank for the eligibility criteria for the card you choose to apply for.
Factors That Affect Your Citibank Credit Card Eligibility
To get any credit card in India, you will have to fulfill the eligibility criteria set by the bank. If you do not meet the basic eligibility requirements set by the credit card provider, your application might be rejected. There are many factors that affect your credit card eligibility. Some of the important factors are:
- Credit score: Your credit score is one of the most important factors that will affect your credit card eligibility. The credit reporting agencies in India assign a three-digit number based on your credit history. A credit score may range from 300 to 900. While a low credit score indicates that you do not have a good credit history and decreases your creditworthiness, a high credit score proves that you are a responsible borrower. The higher your credit score, the better. You can get a free copy of your credit report every year from each of the credit reporting agencies in India, namely Equifax, TransUnion, and Experian. If you have a low credit score, it is recommended to apply for a credit card only after your score has improved.
- Existing debt: When you apply for a credit card, your lender will check your existing debt. A Debt-to-Income Ratio is calculated by dividing your gross monthly debt by your gross monthly income. The credit card providers prefer applicants with a low Debt-to-Income Ratio. Before applying for a credit card, make sure you check your total debt and decrease it to improve your eligibility.
- Income: Each credit card is designed to cater to specific spending habits of the cardholder. Based on the features and benefits of the card, the bank sets the minimum income criteria. If an applicant does not meet the income criteria set by the lender, the credit card application might be rejected.
- Age: Every credit card provider in the country sets the minimum and the maximum age limit for each of their credit cards. If you do not fall within the age bracket, you might qualify for a credit card. The age limit for each credit card is different. The age criteria also depends on the type of credit card.
- Multiple applications/ hard enquiries: It is very tempting to apply for multiple credit cards at the same time. Most applicants apply for more than one card or make several hard enquiries. However, making multiple enquiries affect your credit card application negatively. Do your research and apply for one card that best suits your requirement.
Some Of The Other Factors That Affect Your Credit Card Application Are:
- Job stability
- Credit utilisation rate on your existing cards
- The organisation you work with
- The number of credit cards you own
- Recent delinquencies
- Settled accounts
- Lack of credit history
- Job profile
- A high outstanding amount on your existing credit cards
How To Improve Your Citibank Credit Card Eligibility
If you do not meet the eligibility criteria set by the bank or if your credit card application is rejected, you can increase your eligibility and apply again after a few months. There are many ways you can increase your credit card eligibility. Some of them are:
- Increasing your credit score by closing one of your existing loans, reducing your Debt-to-Income Ratio, increasing your total income, or clearing your existing credit card total outstanding due amount. Check for any red flags in your credit report and try and eliminate them.
- Paying your bills on time. This way, the bank will be able to assess your repayment capacity and consider you as a responsible borrower. Not defaulting on your payments will help you build a good credit history in the long run. This will also help you when you apply for a loan in the future.
- As mentioned earlier, avoid submitting multiple credit card applications. This will make you look like a desperate borrower. Do research and apply for one card that best suits you.
- Always maintain a low Debt-to-Income ratio. If need be, consolidate your debts or pre-close your loans.
- Maintain a good credit utilisation rate on your existing credit card.
- Avoid cheque bounces, late fees, and penalties on all your active lines of credit.
- Some banks offer credit cards against fixed deposits. Consider opening a fixed deposit which will help you get a credit card while you save.
Top Citibank Credit Cards
Some of the most popular credit cards offered by Citibank are:
- Citi PremierMiles Credit Card
- Citi Rewards Card
- Citi Rewards Domestic Credit Card
- First Citizen Citi Credit Card
- IndianOil Citi Platinum Credit Card
- Citi Prestige Credit Card
- Citi Cash Back Credit Card
You can apply for a Citibank credit card online by visiting the bank’s official website. Alternatively, you can reach the Citibank customer care department by dialing 1860 210 2484. If you are calling from outside India, dial 91 22 4955 2484. Citibank customer care department is operational between 9:00 a.m. to 7:00 p.m. from Monday to Saturday except on national holidays.
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