A credit card is a necessity for most people. It is no longer a rare thing but something that everyone has access to. A credit card has many benefits, such as interest-free use, convenience, cashback, discounts, and rewards. Know the steps to apply for a credit card, regardless of whether you are a teacher, student, employed or self-employed.
1. Select a Credit Card
Every bank has different credit card choices. You can choose a credit card based on your requirements, usage, and the advantages you want. For example, the Bajaj Finserv RBL Bank SuperCard is ideal for people who want to ensure financial stability during times of crisis. Bajaj Finserv also has credit cards for travellers, shoppers, and more. You can visit the Bajaj Finserv website to choose from over 17 credit card options. Once you choose your credit card, you can check the eligibility criteria for the card and then submit the required documents to apply for the card.
2. Credit Card Application
Many people want to know how to apply for a credit card. It is a simple process after you have chosen the card you want. Prepare your documents, which are very few; all you need are documents displaying income proof, identity, and address. If you already have an account in the bank, you may already be pre-approved for a credit card. You can apply by visiting your bank’s nearest branch or submitting the documents online. Most credit cards have an annual fee, but those charges are often waived off if you spend a certain amount every year. You can check your credit card’s annual fee in the monthly credit card statement.
3. Credit Card Activation
Once your application for a card is approved, it is couriered to your residential address. You need to be present for it since only you can accept the card by showing your ID and signing for it. Some banks courier the PIN separately, or a Green PIN is available through your mobile. The PIN is required to approve all transactions made through the credit card. Once you have both the PIN and the credit card, you can go to your bank’s ATM and change your PIN. That is it.
Now you own a credit card, and you can make as many purchases as you would like. You can even get a loan against your credit card.
Advantages and Features of Credit Cards
You get many advantages with credit cards. Here are some favorite ones-
1. Rewards program – Credit cards often have a reward system that lets card owners earn points on transactions using the credit card.
2. Welcome Gift – Banks often offer welcome gifts to credit card owners once they have their cards. Welcome gifts can be anything from vouchers, reward points, discounts, or more.
3. Lifestyle Advantages– Card owners can enjoy many lifestyle advantages such as discounts on shopping, dining, entertainment, wellness, and more. For example, Bajaj Finserv offers 1+1 movie tickets to all cardholders.
You may currently be excited about the credit card application process, but it may soon fade and be replaced by stress as you wonder how to apply for a credit card. Once the application is submitted, you can be stressed about whether it will be approved or not. However, you can get rid of that stress by checking your CIBIL score beforehand and being aware of the eligibility criteria of your credit card. If you fulfil your credit card’s eligibility criteria, then you will most likely be approved for the card. For example, the Bajaj Finserv RBL Bank credit card requires a credit score of 750 or above to issue a credit card. If you do not have a good credit score, you can research banks that offer credit cards to people with a lower credit score.
