sA credit card is an excellent financial tool. It offers much needed financial support when you need to buy something you like or need. While most of your salary goes into everyday needs, a credit card helps fulfil your other desires.
You can go for a movie or buy that fancy television you have been eyeing with it. Several banks like IDFC FIRST offer plenty of options and benefits in their credit cards. However, the process can seem a bit confusing. So here is a simple guide to take you through the five basic steps you have to follow to apply credit card online.
Choose the Bank and Credit Card
The first step in how to get credit card is to find the perfect credit provider or bank. Most major banks offer cards suited for different needs and individuals. A major factor to consider is the credit card interest rates. It can vary from bank to bank. IDFC FIRST Bank charges a low interest rate of 9% p.a. for their cards.
Once you have finalised the bank, check through the different credit card options. Assess what you need your card for and select accordingly. IDFC FIRST Bank has eight different card options. These include FIRST Select, LIC Cards, FIRST Private, FIRST Millennia, FIRST SWYP, FIRST Classic, FIRST Power, FIRST Wealth, Club Vistara, and the FIRST WOW! Each card has its own benefits.
Check for Eligibility
After you have selected the card, you need to check if you are eligible. Credit cards require specific eligibility criteria to be met. These include:
- Age: The minimum age requirement is 18, while some banks require applicants to be at least 21 years old.
- Yearly Income: You should make at least Rs 3 lakhs a year in monthly revenue. However, it’s a good idea to contact your bank to find out the minimum earning needed to apply for an online credit card.
- Credit Score: Your credit score acts as a major determinant in your card approval. The majority of banks run credit checks. A minimum score of 750 points is needed by most banks.
- Employment: Your job status is considered when determining your eligibility for a card. You must have held your current position for at least a year to qualify for the card.
Fill Form
Now that you have your information and documents ready, it’s time to complete the online application. Most banks offer a simple online application process that only requires you to enter a few basic facts, including your name, email address, PIN code, and phone number. Certain banks, like IDFC FIRST Bank, also offer the ability to apply through a mobile app that may be downloaded.
Wait For Approval
After submitting your application, you will have to wait for the card issuer to review and complete it. IDFC FIRST Bank offers instant approval, and you will receive your card within minutes. When your application is accepted, examine the card offer thoroughly.
Activate Card
Activating your new credit card is the last step after reviewing and accepting the card offer. Once your card has been authorised, you can use it sensibly to establish credit. To preserve a good credit score, pay your bills on time, don’t use all your available credit, and refrain from maxing out your credit card.
Bottom Line
If you follow these five easy steps during the credit card apply online process, it will be simple and quick. Check for all terms carefully and receive fast approval. Monitor your expenses and enjoy the perks of your new card!
