If you have a job and want to get a credit card, you might be wondering how to start. In this blog post, we'll explain how salaried people can get a credit card, how credit cards can help you financially, and compare different types of credit cards for salaried professionals.
Credit card issuers want to see that you have a stable income before giving you a credit card. This shows that you can pay the bill. Your income determines if you are eligible for a credit card. Here are the documents usually asked for when applying for a credit card linked to your salary account:
Credit cards can be helpful if you use them correctly. Here are some benefits:
Here are some reasons why credit cards for salaried people can be different:
Credit cards can be a useful tool for salaried professionals if used responsibly. Pay bills on time, spend wisely, and take advantage of rewards programs to build credibility with the bank and improve your credit score. When choosing a credit card, consider your income level, spending habits, and desired benefits. Look for cards that offer enhanced rewards and flexibility, such as EMIs and loans against the cards. Always read the terms and conditions carefully before applying for a credit card. With the right card and responsible usage, you can take control of your finances and improve your financial health.
Fi Money, along with our licensed partner Federal Bank, offers a salary program with many benefits. When you shop using Fi, you get 2% cashback with UPI or Debit Card, and 4x Fi-Coins on all your spends via Fi, which you can redeem for vouchers, cool merch, and more. You will also get exclusive deals and gift cards from top brands like Amazon, Swiggy and more.Other perks of the Fi Money Salary Program include no minimum balance, a free VISA Platinum debit card with zero forex charges, priority customer service, and more.
The Fi-Federal co-branded credit card from Fi Money and Federal Bank offers a 5% valueback for spending ₹4 lakh per year (approximately 35K per month). The benefits are worth more than ₹20K. This credit card rewards all your spending, not just shopping or travel. Rewards are customised based on your spending pattern and you can leverage features and benefits to fit your needs.
Yes! Having a salary account can increase your chances of being approved for a credit card. Credit card issuers generally prefer individuals with a regular and stable income, as this indicates that they can repay the amount borrowed without any issues.
It is usually difficult to obtain a credit card without a job or source of income, as this can negatively impact your credit score. However, there are alternative options available, such as secured credit cards or becoming an authorised user on someone else's card. Be sure to review the terms and conditions carefully before pursuing either of these options.
The minimum annual salary range for credit cards currently ranges between ₹1,44,000 and ₹25,00,000.