Apply for a Credit Card in India with these simple steps!

Banks offer their customers lots of investment benefits and fund safety. When you open a Bank Account, they ask for your details and verify them. Once you become loyal, they give you several opportunities to grow wealth and lead a debt-free life. Instead of paying cash immediately, the bank gives you a credit you must repay after a specific period.

When you apply for Credit Card in India, you have multiple queries, including deciding the best ones and how the card balance transfers save you money. With digital technology, the process is automated, quick, and paperless. Here are the steps to follow:

Choose the card type

Each bank offers dozens of Credit Card options. Your chosen card will depend on your expected usage, requirements, and benefits. For example, some Credit Cards are great for travellers. Some can help you pay for entertainment, and others may be great for business. Whatever the purpose, analyse your requirements well before applying.

Apply for the card

After selecting the appropriate card type, check with the bank about its eligibility and documentation, which include identity, income, and address proofs. You can also opt for an online Credit Card apply, or visit an ATM or the nearest bank branch with the documents. The annual fee is the cost of owning the card. Pay to keep using the card, although some issuers waive it.

Activate the card

After approval, the bank dispatches the card to your communication address. During delivery, sign for it and show identity proof. A PIN or personal identity number is couriered to you separately. You get the Green PIN on your registered mobile number. Once you get the card and the PIN, head to your bank’s nearest ATM to change it.

Choosing it

Before selecting the card type, you need to assess some factors, like your spending pattern and rewards in terms of points, cashback, and privileges. Compare the interest rates on different Credit Cards and the applicable fees. You also find cards with exclusive offers and discounts when you use them to shop on a website or store.

Points to note

You can remain carefree about carrying your wallet wherever you go. After you apply for Credit Card, you can pay for all hefty expenses and fulfil your desires. Remember to pay the bill on time using the NEFT facility to avoid penalties. Clarifying the bill payment mode while applying for the card makes things easier.

Conclusion

A range of benefits and offers are available online Credit Cards while shopping or touring. You can also apply for Loans against the credit limit and boost your CIBIL score by repaying them on time.

Arjit Chalmela is a finance student who loves to write in his free time. He has spent considerable time researching the foreign exchange rate.