An instant credit card is in great demand for those who want to access instant credit and financial flexibility. These cards typically have an easy online application procedure with a few steps. Once you apply, you can get instant credit without any hassles.
Credit card issuers like banks and credit card companies review your application with streamlined and automated systems, which helps them offer quick approvals. These automated processes run a quick check of your monthly income, employment status, and credit score to get a credit card.
Under the application procedure, ensure you pass through all these checks and can get your card instantly.
- Choose Your Instant Credit Card
Applying for the right credit card is crucial, as it will help you make the most of the facility. You can choose a card by checking the following:
Assess Your Financial Requirements
You must evaluate your spending pattern and financial goals while deciding on an instant credit card. It must align well with your needs and rewards.
Research Fees and Charges
You should check the interest rates, annual fees, additional charges and late payment fees to choose the most cost-effective card.
Review Reward Programs and Offers
You should consider the rewards program on the card and the terms and conditions associated with it. Look for offers in various categories and choose a card that matches your spending habits so you can save more.
Check Customer Support and Security
Choose an issuer which has good customer support and robust security. Look for fraud protection services on the credit card when using it offline and online.
- Check Eligibility Criteria
Every issuer has specific requirements, which you must fulfil to get the card. Here is an overview of the general eligibility criteria:
Good Credit Score
A score of 750 or more is seen as favourable for most credit cards in India for instant approval. Credit card issuers are generally hesitant to approve an applicant with a low credit score.
Income Level
The companies always set a minimum income threshold for assessment of your ability to repay. It is a plus point to have. A stable and regular income ensures quick approval on the card.
Age and Citizenship
Most issuers require you to be above 18 years of age and an Indian citizen to apply for a credit card.
Employment Status
You have to represent your repayment ability by showing your employment status to the issuers. You can either draw a salary or be self-employed to apply for a card.
Existing Debts
You can enhance your eligibility if you clear off your debts before applying for a credit card. Ideally, your debt repayment amount should not be more than 40% of your income.
- Apply Online
Once you have chosen the card and ensured that you meet the eligibility requirements, you can apply for it online by following these steps:
- Visit the website and search for the instant credit cards section.
- Select the card of your choice and click the option ‘Apply Now’.
- Verify your mobile number before starting the application
- Fill in your details, such as your date of birth, age, occupation, contact number, email
- Upload all the required documents
- Recheck all the details and submit the form
- Complete Additional Formalities
After this entire process, you will receive a confirmation from the credit card issuer. If they need further details, they will contact you via the information given in the application. In some cases, they may also ask you to complete the KYC and verification offline.
They will send a field agent to your suggested location and carry on the procedure physically. You can also do a virtual KYC to get a virtual credit card. Check your email and messages to not miss out on such important communication. If you don’t provide these details, the issuer may reject your application.
Once your application is approved and you receive your card, activate it as per the instructions and start using it.
Tips To Boost Approval Chances
Whether or not you get the card is at the sole discretion of the issuer. However, there are some tips that can help you get the leg up and improve the possibility of getting the card. Here are some of them:
- Confirm you are applying for a card that you qualify for and need
- Always review your credit score before applying and rectify mistakes, if any.
- Check all the information you mention in the application.
- Upload all the documents, such as proof of income, residence, etc.
The approval time varies depending on the issuer and your application. In some cases, you may get the card within a few days, or it can take a few months. One option to consider is the One Credit Card. With this card, you can discover a hassle-free way to use credit score to get a credit card.
You can apply for an instant virtual card through the One Credit Card App. The application process is easy, and approval is quick. You can manage your transactions with the expense tracking feature and more. Monitor your rewards and credit card use easily. You can also earn 5X rewards on your top 2 spending categories and enjoy easy EMIs. Apply now to get instant approval and enjoy financial freedom like never before!
