A credit card has become a must-have nowadays. The first reason is in case of any unplanned purchase you can easily pay for it via the credit card. For an emergency, a credit card comes in handy to withdraw cash or make any purchase or bookings. It helps build your credit score. There are many banks that offer credit cards. Some of these banks have stringent rules for approval while some are easy to get.
Using a credit card has many benefits some of which are as follows:
- It is accepted globally.
- It is a secure way of transacting.
- The user gets reward points or cash rewards each month which is a very attractive offer.
- It helps in building a credit history.
- Helps save money due to discounts, cash backs on the card.
The benefits of a credit card make it very attractive to have. There is a strict eligibility criterion for obtaining a credit card. The main criteria for a credit card are to have a good repayment history and transaction history. The bank runs a credit check before issuing a credit card. If you qualify with your credit history and income then you will get the credit card easily.
Here is how you can get credit cards that are easy to get:
- Credit cards against fixed deposits – You can get a credit card against an existing fixed deposit or you can open a fixed deposit and get a card against it. The credit limit offered is 80%-85% of the FD amount kept with the bank. The biggest advantage is that there is no minimum income requirement and income documents, credit score is not checked. Examples:
Signature card – Andhra Bank
Aspire card – Central Bank
Instant Platinum Card – ICICI bank
- Credit cards for low salaried/ income earners – The bank account in which employee’s salary gets credited every month can help in getting a card. These are unsecured cards which means the risk to the issuers is high. Examples :
Coral card – ICICI bank
Visa classic for self-employed – Vijaya Bank
Freedom card – HDFC Bank
- Supplementary cards on credit cards – This is an add-on card on the primary card. If your family member owns a credit card and has good repayment and transaction history, then he/she can apply for a supplementary card for his/her family members (spouse, parents or children). The credit limit gets divided between the two cards (primary and secondary). Monthly bills are in the name of primary cardholder and statement is consolidated. Examples :
PVR Platinum – Kotak Mahindra Bank
Signature card – ICICI Bank
Titanium Card – HDFC Bank.
As long as you meet the required criteria there are many credit cards that are easy to get. If you have a good income, good credit score, collateral like an FD in the bank and proper documentation are sure shot ways of getting a credit card easily.