How To Apply For Credit Card In 2023
How To Apply For Credit Card In 2023:- A credit card may significantly improve a person’s credit score on its own and also serve as an excellent means of saving money. Since most people consider credit cards to be an indulgence, India’s economy is not yet reliant on credit, and many people are still unaware of their full potential.
Despite the challenges, the Indian credit card market has grown at a compound annual growth rate (CAGR) of 20% during the previous five years, and as of July 2022, there were 78 million credit cards in circulation. This tutorial will assist you in applying for a credit card if you’re trying to acquire one in India.
Step-by-Step Guide To Get A Credit Card Online
Applying for a credit card online is a fairly simple approach to contact a financial institution. If you would want to get a credit card from a certain bank, you may visit their website and choose from a distinct area offering credit cards from the financial institution.
Procedure:
Select the credit card of your choice and click on where it says, “apply now”.
Once clicking on “apply now”, another link will appear asking for a few details.
With the help of your details the bank will analyze the eligibility of the applicant and accordingly call them for the paperwork.
Paperwork:
After taking an appointment from the eligible individual over the phone, an agent visits the residence for the paperwork and takes details of the applicant for their database.
Some companies also do the required know-your-customer (KYC) details on a phone call rather than sending someone to the customer’s residence.
Issuance:
A credit card is delivered at the address of the applicant within five to seven working days with the users manual, if any.
How to Apply for a Credit Card Through Phone/Call:
Procedure for those who are not existing customers:
Additionally, you may buy a credit card over the phone from the bank or firm that is selling it. Here, the client is informed about the credit cards that the business offers, and upon selecting one, an SMS with a link is delivered to their cell phone.
This link leads to the firm’s official website and is sent from an official corporate phone number.
The agent will ask the client to complete a form found on the emailed link.
Upon filling the form, the procedure is complete and one gets the card in five to seven working days on the address filled.
After completing the form, the process is finished, and the card is sent to the provided address within five to seven business days.
Some businesses send their staff to the clients’ addresses to complete the documentation by hand rather than performing the KYC over the phone.
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Procedure for existing customers:
Customers who are already with the bank—those who have a savings account or credit card with them—will not need to fill out any forms, and they won’t receive any links because the bank already has their information.
When on a call, individuals can use their mobile app to obtain a credit card by hitting the subscribe button next to the debit card name they wish to use.
Precautions to be Taken While Applying for a Credit Card on a Call
Giving sensitive information, such as your Aadhar number or PAN card number, over the phone is not advised. Instead, provide the necessary details when company representatives visit your house, or input the information alone on the provided site.
Verify whether the provided link’s URL matches the originating company’s. Customers have been duped in several false incidents where the link’s URL was altered to seem just like the actual business’s. Therefore, never choose a URL that looks exactly the same; instead, verify that the URL of the actual website is the same before entering your information.
Verifying the authentic source of the SMS sent by the bank or other financial organisation is another crucial step in the process. The name of the bank that issued the SMS will always be recorded. For example, a message from HDFC Bank will only list HDFC as the sender and not a number.
Giving your Aadhar number is not required, and providing a fraudulent Aadhaar might have serious repercussions. Instead, provide your PAN card number. With your PAN card, you may easily obtain a credit card.
Eligibility To Apply for a Credit Card
One must confirm that they are eligible for a credit card before applying. The parameters to verify eligibility are as follows:
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