With the advent of technology, there has been a rise in the cashless transactions. Cashless transactions saw a further surge after the demonetization in November 2016. The number of transactions done online increased manifold. There are various instruments used for cashless transactions and the credit card is one such instrument. A ICICI Credit Card is a plastic card that allows you to purchase merchandise on credit and pay for them later on. There are several advantages of using a credit card:
- You earn reward points on all your payments made with credit card.
- A credit card is an amazing alternative to cash.
- It helps in building and improving credit score.
- You get pre-approved loan offers with credit cards i.e. it provides a line of credit to you.
- Credit offers an interest-free credit period.
- With the help of credit card, you can keep a track of your day-to-day expenses.
There are different banks offering credit cards with a wide range of offers and benefits which caters to diverse customer needs like shopping, entertainment, travel, dining etc. Different banks have laid down different eligibility criteria for availing a credit card. Some of the common eligibility criteria are given below:
- The age of the applicant should be at least 18 years and above.
- Salaried, self-employed businessmen and self-employed professional with regular and stable income can apply for a credit card.
- The applicant is required to have a savings account in his/her name.
- For availing a credit card a good CIBIL score of 650 and above is required.
Documents Required for Applying for a Credit Card
New Credit Card
- Identity Proof: Passport/ Utility Bills/ PAN Card/ Aadhaar Card etc.
- Age Proof: PAN card/ Aadhar Card/ Voter-ID etc.
- Address proof: Electricity bill/ Aadhaar Card/ Driving License/ Voter-Id.
- Last three months salary slip.
- Last 3 year Income Tax Return.
- Last six months bank statement.
Card to Card
- Front copy of the card.
- Latest credit card statement.
- Pencil impression of the credit card.
- Charge Slip or retail transaction required (If in case the limit is less).
Process to Apply for a Credit Card Online
Step 1: Go to the webpage of an online aggregator. Click on the credit card ‘Apply Now’ button.
Step 2: Proceed further and fill out an easy application form containing your personal details like name and occupation details like your income, work experience etc.
Step 3: Post that a credit card representative will call you to explain the entire process and card details with benefits and documents required.
Step 4: Credit card executive will fix an appointment with the banker as per your convenience.
Step 5: Post that the banker will call up to verify the details provided by you and he will fix an appointment for documents pick-up at a time and place decided by you. You can reschedule the appointment.
Step 6: Post documents pick-up, you will receive your credit card within 10-15 working days.
Keeping in mind the above-mentioned benefits of using a credit card, you can apply for it through an online aggregator. You can compare the offers of different lenders through them before applying for a credit card.