What are some easy ways to get a credit card?

At present, there are approximately 77 million Indians with active credit cards. In the last few years, credit card issuance has been on the rise owing to growing aspirations, changes in lifestyle, and rising demand for credit. The credit card business in India has simplified now with online applications, instant approval, coupled with different credit card forms catering to unique needs and, personalized rewards, and offers. These improvements have improved the demand for credit cards among Indians in the last few years.

How are credit cards useful?

Introducing credit cards into your life can be financially liberating. Many credit cards come with pre-approved credit limits, interest-free grace periods, bonus rewards, welcome offers, and other value-added benefits such as accelerated reward points, cashbacks, etc. - there are multifarious benefits of owning a credit card.

For instance, banks like IndusInd Bank offer 4X reward points on select merchant categories on its Platinum Aura Edge Visa/Mastercard, ‘zero annual and joining fee’ on select credit cards, and more. Not only the attractive offers, owning a credit card provides an opportunity for users to build credit scores over time which makes it easier to avail of loans at affordable interest rates later on. Furthermore, for every big-ticket purchase, you can also convert them to easy EMIs to improve your financial health and improve lifestyle.

Eligibility

While the eligibility criteria may differ from bank to bank, there are a few factors that are common among all -

• Applicant must be 21 years old

• Applicant should have a net monthly income of INR 20,000 minimum

• A good CIBIL score

How to choose and apply for a credit card?

If you are a new user, choosing a perfect credit card can be unnerving. The only thing that should matter before zeroing in on the perfect card for you is to understand that it seamlessly blends with your lifestyle. For instance, there are credit cards that meet the needs of a travel enthusiast, someone who enjoys wine and dining, or someone who loves online shopping. So, the credit cards you choose should be based on your requirement and usage as some are designed for travel, entertainment, or business. Once you have selected the credit card you want, you are ready to get one for yourself.

It has become easier to apply for a credit card online. Go to a bank’s website, and input your basic details such as PAN number, Mobile number, and Email id. Based on the details, get the best offers and then complete the V-KYC. New age banks like IndusInd Bank work on a 100% paperless application process, meaning they digitally process the application upon submission of basic details and the users get the credit cards within a few days.

Following these easy steps, you can get a credit card with instant approval. Credit cards bring a lot of benefits other than just increasing your purchasing power. When used wisely, you can get the maximum value out of your spending by accumulating reward points, discounts, cashbacks, and more.

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