How to Apply for a Credit Card Online

How to Apply for a Credit Card?

You can get a credit card in three ways.

1. Via credit card eligibility

If you have a good credit score or CIBIL score, some banks offer you credit cards on their own. You may have received SMS notifications from your bank, or even calls from executives informing you that you’re eligible for one. All you have to do is follow those instructions after being prompted, and most likely, the card will be delivered to you.

2. At a bank branch

The card will either be issued on the spot or it may take a couple of days to be delivered, depending on the type of card you’re applying for.

3. Online

By applying for one online via the website or the mobile app. All you have to do is log in to the website or open the app and follow these steps:

1. Select your choice of credit card based on the options.

2. Fill out the application after you select the card. You will need to submit certain documents like Aadhaar Card or PAN card as identity proof and documents to prove your source of income like salary slips (for employed) or ITR (for self-employed). However, this may not always be the case in case you’re purchasing a card from the same bank you have an account with.

3. Once the bank team verifies and approves all the details you submitted, the card will be sent to your registered address. You will need to activate the card by setting a pin that has to be confidential.

How to use your credit card?

Owning a credit card and using a credit card are two very different things. When used prudently, credit cards can help cover a lot of expenses and maintain good credit health (credit score). Consider the points below to understand more in detail:

1. Identify the best credit cards

With an array of credit cards available, it’s always sensible to choose a card with features you are likely to utilise the most. Choosing a card that has a lot but you may not use will only be at a loss for you.

2. Know the annual fees

If you know the card you want, then you must know if there are any fees attached to it. Do you require a premium card? If so, you need to be clear on why, as these cards attract high annual fees. Normally, you need to spend a minimum amount using that card if you want to avoid paying any annual fees.

3. Keep an eye on your billing cycle

Always know when your due date to pay the credit card is. Set a reminder on your phone or get apps that will remind you. If you miss paying the bill even by a single day, you will have to pay a late payment fee along with interest charges. And if the payment date is ignored continuously, your bank will send a notice which will affect your credit score.

4. Limit your dependency

If your balance is being carried forward again and again and you’re unable to pay the entire amount, it is a sign that you’re dependent on your credit card. Try and limit your usage to around 40% of the credit limit. A heavy credit card bill attracts heavy interest, and if you miss your due date, the amount only gets heavier. Needless to say, this will also impact your credit score.

Summing up

In conclusion, applying for a credit card has never been simpler, with various options available to suit your preferences. Whether you choose to apply based on credit card eligibility, visit a bank branch, or opt for an online application, the process can be straightforward. Credit cards offer numerous benefits, including rewards, discounts, and the ability to build a good credit score. Additionally, the option to convert purchases into EMIs provides flexibility. Remember to use your credit card responsibly by selecting the right card for your needs, understanding any associated fees, staying mindful of billing cycles, and avoiding excessive dependency.

Get used to being rewarded with Fi

With the right approach, a credit card can enhance your financial journey. Consider exploring the Fi-Federal Co-Branded Credit Card , which offers accelerated rewards, exclusive vouchers, and a host of features tailored to your spending habits. Make the most of your credit card and enjoy the rewards it brings. Learn more about the future of credit cards here .

Frequently Asked Questions

1. How do you know if you’re eligible for a credit card?

Each bank has its own criteria to be eligible but below are a few common checkpoints

1. The minimum age should be 18 years
2. Minimum yearly income (depends from bank to bank)
3. You must have a PAN and Aadhaar card
4. You must have salary slips (for employed) or income tax returns (for self-employed)

2. Can you get a credit card with no money?

Credit cards are generally not issued to those who cannot show any source of income or do not have sufficient funds in their account. However, it is still possible to get credit cards by pledging collateral like mutual funds or fixed deposits.

3. How can I apply for a credit card?

It's important to first do your research and find a credit card suited to your needs. Post this, you can check your credit score and start the process of being pre-approved. You can then fill out the credit card application, and wait on the card providers decision.

4. How to track the status of credit card application?

Tracking your application is fairly simple. All you have to do is to the website/app of your credit card provider. Under a tab about your applications, you must find a section that helps you track your application. Choose this and viola!

Want to know more? Check these out!

1. Key tips to increase your credit card limit

2. Basic steps on how to get a credit card

3. Loan on credit cards - Features, Eligibility, and more

4. Credit card limit - Explained by experts