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How To Apply for Credit Card Online & Get Instant Approval?

How To Apply for Credit Card Online & Get Instant Approval?

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Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.

Most credit cards take approximately ten to fifteen days to get delivered after the acceptance of your application. This waiting period can be troubling if you require the card for an urgent expense or to avail of a limited-period offer.

In such cases, an instant credit card can come to your rescue.

You can use it within a few minutes or hours after your bank approves your application! Instant credit cards work similarly to virtual cards and solve your need for urgent credit.

But is the application process for instant and traditional credit cards similar? Let's have a look.

Choosing the Right Credit Card for Your Needs

The market is brimming with different types of credit cards, namely:

  • Cashback cards
  • Entertainment cards
  • Travel cards
  • Business cards
  • Co-branded cards

The ideal credit card for you depends on the nature of your expense.

For instance, if you travel frequently, travel cards help you accumulate credits you can use later for cash back or airline miles.

If you own a business, you might benefit more from a business credit card to help streamline all your company’s expenses.

Steps to Apply for a Credit Card Online

The application process is the same regardless of the credit card you require. We have summed up the process of how to get instant credit card in three steps:

Step 1: Visit your Bank’s Website

All Indian banks have a dedicated credit card page introducing you to various cards. You might also find a section that asks for your occupation, lifestyle and income to suggest the ideal credit card to supplement your needs.

Once you have decided on the type of card you require, it’s time to check the eligibility criteria for the card. Some banks may only permit individuals above 21 or possess a salary cap. The best way is to read the guidelines on the page or reach out to your nearby branch to confirm your eligibility.

Step 2: Complete the Application Form and Online KYC

The most significant benefit of getting an instant credit card online is the lack of physical documents. Most banks rely on a paperless procedure and ask for basic details in the application form, such as:

  • Aadhar and PAN details
  • Email ID
  • Phone Number
  • Residence proof (if not updated in Aadhar card)

A video KYC follows the application to validate your identity. If you are an existing customer, chances are you will be approved instantly after the bank cross-checks your details internally.

Step 3: Activate your Virtual Credit Card

Several banks provide a virtual credit card once your application is approved. You can use this instant credit card to take care of urgent expenses without waiting for the plastic card to arrive by post.

Summing Up

Banks often glance at your CIBIL score and overall financial market performance to check if you are eligible for a credit card. To maximise your chances of getting an instant credit card, maintain a decent credit score and avoid late or missed payments.

Fi and Federal Bank have partnered to launch the "5% Card," a co-branded credit card that offers up to 5x accelerated rewards at India's top 21 brands. It also comes with various benefits, including lounge access and customized reminders, and offers exclusive vouchers worth ₹5,000 as a welcome offer.

Sounds interesting? Join the waitlist and get your hands on the most rewarding credit card.

Frequently Asked Questions

1. I already have a credit card. Can I apply for another one?

There is no limit to the number of credit cards you can have. Having more than one card showcases your ability to manage your finances well with timely payments and positively impacts your credit score.

2. Which bank provides credit cards instantly?

The rising need for urgent credit amongst customers has compelled top banks like HDFC, Standard Chartered, Kotak and Axis to offer instant credit cards.

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