Things to consider before you apply for credit card online – There are numerous advantages to using a credit card rather than a debit card. To begin with, it allows you to establish a good credit history, which makes obtaining a loan with favourable interest rates easier. Second, you may be able to get cheaper insurance and even new cellular plans as a result of this. Regular purchases with a Credit Card can help you earn reward points or cashback, as well as protect your purchases from theft or damage.
With so many benefits, it’s always a good idea to have a credit card in order to improve your financial health. However, there are a few things to keep in mind before applying for a credit card.
Before applying for a credit card online, it’s important to consider the following factors:
- Your credit score and credit history.
- The annual percentage rate (APR) and fees associated with the card.
- The rewards and benefits offered by the card.
- The issuer’s reputation and customer service.
- The terms and conditions of the card.
- Whether the card is a good fit for your spending habits and financial goals.
- If the website you’re applying through is legitimate.
- Compare the options available and choose the one that best suits your needs.
The eligibility criteria for having a credit card
This is the most important factor because it determines whether or not you are eligible to apply for a credit card. Though each bank’s eligibility criteria differ, there are a few basic requirements that are universal.
- The applicant for a credit card must be at least 18 years old.
- He or she must meet the issuing bank’s minimum income requirements. All banks have different minimum income requirements.
- He or she should be able to produce all of the necessary identification documents.
Choosing a credit card
After you’ve met the eligibility requirements, you’ll need to decide which credit card to use. Before you apply for a credit card online, you should familiarise yourself with the features that your credit card offers.
The primary reason for having a credit card is to borrow money from the bank and then repay it in convenient instalments. As a result, it’s critical to check credit card interest rates and select an EMI period that’s within your budget. Although most credit cards provide an interest-free period during which no interest is charged if the payment is made by the due date,
Online registration- Your card should have an online registration feature that allows you to keep track of your daily spending as well as your available balance with ongoing EMIs. Your e-statement should arrive at your registered e-mail address.
Look for a credit card that allows you to withdraw cash from any location in the world. Most credit cards allow for cash withdrawals with a small fee applied to the amount withdrawn.
Joining and annual fees- Unless you apply for a credit card that is free for life, you will be required to pay a joining fee. You may be charged an annual fee for your card, or you can choose from no-fee credit cards. As a result, you should look for these details before applying for a credit card.
Other features include SMS alerts, which notify you of new offers or discounts sent to your registered mobile number. You may have access to a customer service centre that is open 24 hours a day, seven days a week, where you can file a complaint about your credit card, whether it is lost or stolen. Your credit card may also come with an insurance policy that covers you completely.
Credit cards can earn you reward points that you can use to get discounts on shopping, dining, and flight bookings, as well as cashback on fuel purchases.
Credit card application process: On your preferred bank’s website, you can apply for instant approval credit cards and choose from a variety of credit card types.
To apply for an ICICI Bank Credit Card online, you must provide the following information:
- Examine the eligibility requirements.
- Decide whether or not you want to apply for the card.
- Fill out the entire application form.
- Please upload all required documents.
To summarise, credit cards provide numerous benefits in addition to increasing your purchasing power. By going to the bank’s website and clicking on the “Apply online” link, you can easily apply for a credit card. You can also apply for an instant credit card online and take advantage of Bank’s attractive offers. You can also compare three credit cards by going to the Bank website and selecting “Credit Card Comparison.”
