Internet and smartphones have made credit card applications and usage simpler for prospective users. They no longer need to take time out from their busy schedule to physically visit financing companies to apply for such cards. Online application led to the introduction of instant approval credit cards. Any individual can now successfully apply for a credit card in just a few clicks. However, they still need to follow a few steps to ensure hassle-free and convenient approval.
Step 1: Choose the Best Card
Not all credit cards possess equal features and benefits. Each card caters to certain types of expenditure. For instance, travel credit cards are especially beneficial to frequent travellers. If you do not travel much and you avail such a card, you will not benefit from most of its features. Instead, if you are a frequent commuter with your private vehicle, opt for a fuel card instead. Therefore, before choosing an instant approval credit card, consider which credit cards are suitable for your needs and preferences.
Step 2: Check Eligibility Criteria
Eligibility criteria to avail credit cards differ amongst the various issuers. Moreover, you may need to fulfil additional requirements. Check if your credit score, age, income and other factors are acceptable to the credit card issuer. Credit card eligibility calculators available online can also help you determine whether you are suitable to apply for the card in question.
Step 3: Fill Up An Online Application Form
When looking to apply for a credit card online, you must visit the financing company’s website. Once you are there, select the credit card page and proceed further using the ‘Apply Now’ tab. Next, you must fill up a detailed online application form for an instant approval credit card. Accurately fill up your name, age, residential address and all other personal and financial information of relevance. Proceed to the next step after checking all the information you provided for any errors.
Step 4: Upload Necessary Documents
After filling up the application form, you must scan and upload relevant documents to support the information you provide. Some documents that are commonly required at this stage include age proof, salary slip/proof of income, bank statements, KYC documents and others. Keep the necessary documents ready before initiating the credit card application procedure. Click on submit application after duly attaching all necessary documents.
After completion of the above-mentioned steps, you can sit back and wait for the arrival of your instant approval credit card. If you are unsure about the factors you should consider before picking a suitable card, here are a few pointers to help you.
- Credit limit- Based on your income and credit score, each financing company will offer a certain credit limit for your card. You cannot exceed this limit while using the card to pay for expenses. Higher credit limits are always preferable, so boost your income and CIBIL rating before credit card application.
- Reward points- Reputed cards, such as the Bajaj Finserv RBL Bank SuperCard, offer substantial reward points. These redeemable points help you save extensively through attractive cashback and discounts. Some cards have a better reward points system than others do, so choose carefully.
- Bill due date- This is a crucial factor to consider, especially for salaried individuals who are credited with their salaries on a certain date every month. If the bill due date for the card you avail is a few days prior to your salary date, paying the bill can become a hassle. Choose a card whose payment dates matches your preferences to avoid problems later on.
Bajaj Finserv provides pre-approved offers to make availing credit cards faster and simpler. These offers are available on credit cards, business loans, personal loans, home loans and other loan products. You can check your pre-approved offer today by providing your phone number and name.
Availing instant approval credit cards is simple if you follow the procedure correctly. Always keep an eye on the eligibility criteria for the card you want to apply. If you do not qualify for a card at present, you can always boost your credit score and income, and reapply later successfully.