A guide to applying for a Credit Card online

The plastic money revolution has changed the way we spend money. We no longer need to carry cash to make purchases. Payments happen on the go as we swipe the banking cards. What was once considered a luxury has now become a necessity for many. Almost all Bank Account holders use Debit Cards to complete day-to-day transactions. They give you quick access to your funds. But what if you need extra funds? Banks offer a solution to this, such as Credit Cards.

They are the easiest way to borrow money when you are tight on your budget. Unlike Loans, you do not need to go through an application process each time you need money. You get instant credit for every purchase. This has made it a popular tool for many who incur frequent, considerable expenses. If you want to benefit from this handy tool, you need to apply for a Credit Card online with your bank. Here are the steps involved:

Check credit scores

This is a significant step to ensure you qualify for the card. Your credit score shows banks your borrowing stability. They review your repayment history and assess your financial standing. After evaluation, they determine the type of Credit card you get or if you get it at all. Even if you think you have never taken on debt, it is a good idea to check your credit record. This is because your credit history includes every bill, Loan, and other payment with a due date.

Make selection

After fetching your credit score, you should get an idea of your eligibility. This lets you narrow down your options. Not all Credit Card variants are available for everyone. Banks categorise them based on your credit profile. Hence, while comparing options, you should check if you qualify. The best way to do this is to look for cards within your credit range. Also, ask your bank if you are pre-qualified for any cards.

Apply online

Once you choose, it is time to apply. The simplest option is applying online. To do this, visit your bank's website and click the 'Apply Now' icon. After this, you are taken to the application form, documentation, and other procedures. Make sure to read the requirements carefully before proceeding.

Submit application

After understanding the process, you start by filling out the application. This includes your full name, date of birth, address, email ID, phone number, income, Bank Account balance, etc. You should typically hear about your Credit Cards within 14 days.