How long does it take to get a credit cards in india?

 

There are millions of credit card customers in india who revel in excessive credit limits and gives on them. Some of them are new users and a number of them are the usage of it for years. But there is a question in the mind of some impatient credit card appliers that how long does it take to get a credit card in india. Properly, it totally depends on the eligibility criteria, cibil rating, and documents you’ve got submitted to the bank. If you fulfil all eligibility criteria and a Cibil Score of 750 and above then you have a very good chance of getting a credit card quickly in India. Let’s explore the factors that decide your credit  card application acceptance by  the financial institution.

Factors Determining Time Duration to Get a Credit Card in India

Here you can see the various factors that might be responsible for getting a credit card immediately after the submission of your application.

Eligibility criteria
There are some fixed eligibility criteria that each credit card provider asks in india before issuing a credit card. If you fulfil all of the criteria then you could get a credit card quickly.

. The age of the applicant ought to be as a minimum 18 years and it might differ if you are applying for a lavish credit card.

. You need to have a stable and excessive income to apply for the card.

. The applicant should be a citizen of india.

. Your minimum salary need to be at least ₹15000 per month and it would differ from financial institution to financial institution.

. You should have valid income proof, identity proof, and address proof.

Documentation

There are certain documents that should be submitted at the time of applying for a credit card. You need to put up a copy of those files and affirm them with the unique one. As quickly as you fulfil all the eligibility criteria and verify your files, you’ll get a credit card. You could see the files under:-

. Identification  documents:- pan card, aadhar card, voter i.D. Card, passport, driving license. (anyone )
. Address proof documents:- ration card, electricity invoice, smartphone bill, driving license, passport, voter i.D. Card, (anyone file)
. income proof documents:- from 16, Latest Salary Slips, Income Tax Return Documents Income Tax Documents with Computed Income, Audited Financial Document, Business Continuity Proof. (Any One Document)
. Age proof documents:-pass certificate of 10th preferred, passport, birth certificate, voter i.D. Card. (anyone file)

Cibil score

If you want to get a credit card speedy in india then you definitely ought to have a minimal cibil rating of 750 and above. The bank approves your application quickly and you could get a credit card in more than one weeks introduced at your private home. Commonly, all of the banks take multiple weeks or a month to supply your credit card as it takes time to get manufactured.

Number of Credit Cards You Are Using

It’d take time to get a new credit  card in case you are already the use of a couple of cards because the bank will first confirm the utilization and repayment history of the modern-day credit cards after which problem a  new one. So, make sure which you haven’t skipped any price of your cutting-edge credit cards on the way to get speedy approval of the  new credit card.

Secured Credit Cards

These credit  cards are the pre-approved cards which are issued against your fixed deposit with the financial institution. It doesn’t take too long to get a credit card due to the fact the documentation system isn’t always prolonged and the eligibility criteria are not strict. Consequently, the fastest way to get a credit card in india is to apply for a secured credit card.

Conclusion

Now you know the way long does it take to get a credit card in india. The exact time is not exact but it might take more than one weeks to get your card added at home once it’s far authorised through the bank. The approval may also take time and it completely depends on your cibil rating, monthly income, files submitted, and other eligibility criteria. So, you may take a credit card in india quick via pleasurable all of the figuring out factors and enjoy its advantage, credit limit, and offers.

Related Articles

Leave a Reply

Back to top button