By Who doesn’t want a hassle-free credit card application today? In the age of instant credit cards, a few things will allow you to apply swiftly and without any hassles. This includes knowing the documents the issuer will request, which will vary depending on the card and the issuer.
As such, verifying the checklist from respective banks for the documents required for application is essential. That said, most of the issuers have some common documentation you need to submit.
Types of Documents Required
The following are the common categories of documents you need to submit for the issuer to verify your identity and assess your financial capability.
- Verification of Your Identity: The issuing banks have to confirm your identity through proof to prevent fraudulent activities. They run this assessment procedure to protect themselves from theft or fraud and to avoid identity theft.Â
- Verification of Address: Issuers need to verify your mailing address so that further communication can be done without any issues. This also helps confirm that you are a resident of the country.
- Assessment of Income: Credit card providers have to assess your capacity to pay the credit card every month. They also fix your credit limit on this basis to minimise the chances of non-payment or delayed payments.
- Verification of Age: Issuers provide credit cards to individuals who are above a certain age, generally above 18 or 21 years. This is because your age affects your income level and, thus, your ability to pay the dues.
Regular Credit Cards
While the documents needed for a credit card application vary across financial institutions, the majority of them have a common list of accepted documents. Here is a compilation of the accepted documents for the various categories mentioned above:
Identity Proof
- PAN cardÂ
- Aadhaar card
- Driving licence
- Voter ID card
- Passport
Address Proof
- Aadhaar card
- Driving licence
- Voter ID card
- Passport
- Lease Agreement
- Ration card
- Electricity bill
- Phone bill (landline or paid mobile)
- Bank statements (from the last 2/3 months)
Income Proof
- PayslipÂ
- Income Tax Returns
- Bank statement (for the last 3-6 months)
Age Proof
- PAN Card
- Birth certificate
- Voter ID
- 10th school board certificate
- 12th school board certificateÂ
Travel or Forex Credit Cards
If you are applying for travel or forex credit cards, you will be asked for documents based on your applicant type. Here is an overview:
Self-employed/salaried applicants
- Passport and PAN card
- VisaÂ
- Air travel tickets
Young travellers like students
- Passport
- Admission letter/Appointment LetterÂ
- University card
Documents For Non-Resident Indian (NRI) Applicants
If you are an NRI and applying for a new credit card, you can be asked for:
Identity Proof
- Passport
- Driving licence
Address Proof
For India-
- Passport
- Driving license
- Electricity bill
- Telephone bill
- Rental agreement
- Voter ID
- Bank statement
For Abroad:
- Driving license
- Latest overseas bank statements
- ID card issued by the Government
- Utility bills
- Credit card statements
- Lease agreement and rent receipt
- Appointment letter and ID card issued by employer-companyÂ
As you can see, the documents required at the time of application may vary between salaried and self-employed people. It is better to consider applying for a credit card from your existing bank, which makes the application procedure easy, and you need to arrange a few documents only for verification.
If you want a new credit card, apply only after you ensure that you have the required documents and meet the eligibility criteria. This will help improve the chances of approval. You need to carefully fill and sign the application form and attach or upload all the documents.
Don’t forget to cross-check all the documents before submitting them to the bank. Once done, wait for the notification from the issuer about the status of processing the application. Keep an eye on your email and SMS to promptly respond to the issuer’s queries, if any.
Another way to get a hassle-free new credit card apply online for one with minimal formalities. This is where the One Credit Card becomes a great option to consider. You can start the application process instantly. All you need to do is decide the type of credit card you want to apply for and put in essential details like your contact number, mail address, PAN and Aadhaar.
Once your eligibility is confirmed, you need to upload basic documents to complete the credit card application. Apart from its easy application and quick onboarding, the card offers a host of benefits that make it a great choice. You have to pay zero joining or annual fees and can get 5X rewards on your top 2 spend categories.
These points have no expiration date, and there are no redemption charges, ensuring that you get the maximum value. You can also easily convert your payments into EMIs to keep them affordable and manageable. Apply online now and submit your credit card application to enjoy financial flexibility like never before.
