With the financial transactions going digital at a rapid pace and carrying of cash becoming a headache, more and more people are relying on transactions making payments by cards. However, it may sometime happen that there is not sufficient cash in the bank account and use of the debit card is impossible, or some sudden expenses have cropped up with no money in hand or bank. In this type of situations and many other online transactions, credit card offers the best solution and having them is almost must these days. To get it, one has to fulfill certain eligibility criteria. Based on the fulfillment of the eligibility criteria, banks and other institutions issue it to the applicant. It is better to know the eligibility criteria beforehand as one intends to “Apply Credit Card Online Instant Approval“ else the application might get rejected.

The Eligibility Criteria
Banks and financial institutions follow certain general guidelines to issue credit cards to the applicants and also follow some specific instructions that vary from institution to institution. In general to get it one needs to be eligible as per banking and other financial norms.

• One has to be at least 21 years of age to apply it.

• The applicant should have a valid pan card, aadhar card, voter card to prove identity. As a proof of residence or place of stay utility bills bearing the name of the holder has to be furnished if it is a temporary residence and aadhar, voter or passport if it is permanent address.

• One must have a source of income that is steady and regular. It is applicable both for the self-employed as well as the salaried class. The banks and financial institutions want to make it sure that the card holder will be able to pay the debt within the stipulated period.

• It is also necessary that one has a bank account so that the banks can verify the credibility of the applicant by getting the CIBIL score. Depending on the CIBIL score and the income, these are issued to the applicants with an initial credit limit as decided by the issuer. On regular transactions and timely payments the credit limit increases.

• Some premium cards have specific stringent eligibility criteria, and they can be very high CIBIL rating, high income by the applicant and trusted creditworthiness.

• Some cards are issued based on locations, and these cards are issued only to residents of a particular area of the country. However, these types of cards can be used anywhere. It depends on the banks to mark some area as unique and issue cards randomly.

Overview
It is best to increase the creditworthiness by paying any outstanding to any financial institutions and apply online in the banks and financial institutions portal to get it and enjoy traveling cashless and pay by digital methods. The worry of cash is over with cards. One can get a credit card if the eligibility criteria are fulfilled which is not anything tough at all.