Documents Required for Credit Card Application

Considering the increasing expenses, and premium lifestyle being adopted by many, credit cards have become more of a necessity than a luxury. On top of the many benefits that credit cards offer, getting a credit card is pretty easy. With a good financial history and a stable income, getting approved for a credit card is no big deal.

Since credit cards are delicate financial tools, their application and approval is a formal process. This implies that to get approved for a credit card, you must furnish all the required documents in a timely manner.

Reason for Presenting the DocumentDocument Name
Verification of ApplicationDuly filled and signed credit card application form
Verification of IdentityPAN Card, Aadhaar Card, Passport, Voter’s ID Card, Driving License, Ration Card
Verification of ResidenceAadhaar Card, Passport, Voter’s ID Card, Driving License, Ration Card, Rent Agreement, Property Documents, Utility Bills (Water/Electricity/Telephone Bills, etc.)
Verification of IncomeSalary Slips (for last 3 months), Bank statement (for last 3 months), Income Tax Return

Points to be Noted while Presenting the Documents Required

As you begin to submit your documents for the credit card application process, it is suggested that you do the following to avoid rejection of your credit card application-

  • Double-check all your documents before submitting
  • Try to buy the credit card of your existing bank- this will help you in the documentation process since you will be required to furnish only a few documents
  • Having a good credit score, a stable income and a respected employment status will ease the process of your credit card approval
  • Along with the credit card, you will also be eligible to apply for a loan on the credit card if you have an outstanding credit score and an equally impressive credit repayment history
  • It must be noted that the required documents may vary between salaried and self-employed individuals since both of them would have different sources of income
Read More: Credit Card Fees & Charges That You Should Know About

Process of Credit Card Application

To apply for a credit card, you can either visit the bank’s physical branch or visit the bank’s official website. We have explained the online and offline credit card application process for your assistance.

Credit Card Offline Application Process

  • To apply for a credit card offline, you must visit the bank’s branch after you have decided the type of credit card that you want to buy
  • Once you have made this decision, you must visit the bank’s branch and ask for a credit card application form
  • Fill the application form properly and clearly and sign, wherever required
  • Next, you need to submit all the required documents along with the credit card application form
  • After submitting all these documents, you will receive a notification from the bank specifying the status of your application
  • If your application gets approved, you will receive your credit card in a few days at your residence
  • If your application gets rejected, you will receive a letter specifying the reasons behind the rejection of your application
  • Kindly note that you must not keep applying for a credit card if your application is being rejected again and again. You must wait for sometime after one rejected application to avoid a negative impact on your credit score

Credit Card Online Application Process

  • To apply for a credit card online, you need to visit the bank’s official website. Make sure to compare all the available credit card options before you finalize anyone
  • Visit the ‘Credit Cards’ section on the website, and click on ‘Apply’
  • Next, you will need to fill the application form with all the required details
  • Along with submitting the application form, you will be asked to submit various documents for the verification of your identity, residence and income
  • Once you have duly submitted all the required documents, you will be notified of the status of your credit card application in a few days over email
  • The notification of rejection of your application will be followed by a letter stating the reason for rejection. Make sure to read this letter carefully and consider the mentioned reason the next time you apply
FAQs

What are the documents required for a credit card application?

To apply for a credit card, you must present the following documents-

  • ID Proof (Aadhaar Card, PAN Card, Passport, Voter’s ID Card, Driving License, Ration Card)
  • Address Proof (Aadhaar Card, Passport, Voter’s ID Card, Driving License, Ration Card, Rent Agreement, Property Documents, Utility Bills)
  • Income Proof (last 3 months’ Salary Slips, Bank statement, Income Tax Return)

How do I know if I am eligible for a credit card?
The eligibility criteria for a credit card basically includes a healthy financial history, a credit score of 650+ points, and a stable income. You can clearly apply for a credit card if you think you meet all the criteria. However, you can also visit the bank’s official website to check whether you are eligible for the specific credit card or not.

Is it mandatory to submit an income tax return for the credit card application?
It is mandatory to submit any proof of your stable income. If you don’t have an Income Tax Return report, you can also submit the salary slips or your bank statements for the last 3 months.
What will happen if I submit the wrong document for the credit card application?
Your credit card application will get rejected if you submit any wrong information during the process of your credit card application.
Can I get a credit card if I don’t have any address proof?
No, you won’t be able to get credit card approval if you do not submit any address proof. However, you can submit any one of the following as proof of your residence-
  • Aadhaar Card
  • Passport
  • Voter’s ID Card
  • Driving License
  • Ration Card
  • Lease/Rent Agreement
  • Property Documents
  • Utility Bills (such as gas/cylinder bill, electricity bill, telephone bill, etc.)
I don’t have my Voter’s ID Card. Can I submit any other proof for the credit card application?
Yes. A Voter’s ID Card is required as proof of the verification of your identity and/or residence. You can choose to submit your Aadhaar Card, PAN Card, Passport, Driving License, Ratio Card, etc. if you don’t have a Voter’s ID Card.
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