The defining feature of instant credit cards is the ease with which a person can apply for them. Mobile banking apps offered by top-tier banks help customers like you manage their instant credit cards 24/7 and offer additional benefits such as contactless payments and a 100% digital application procedure. You can also benefit from favourable terms and reduced wait times by choosing instant credit cards.
Applying for an instant credit card involves three main steps – filling out an online application form, choosing a credit card, and completing a video KYC process. The eligibility criteria for instant credit cards vary from one bank to another; however, the key criteria remain the same.
Eligibility criteria to apply for an instant credit card
You must meet the following eligibility criteria if you wish to apply for an instant credit card. As mentioned earlier, the criteria may vary across institutions, but a few conditions remain the same:
- You must be at least 21 years old and at most 60 years old.
- You must be a salaried or self-employed individual.
- You should have a reasonably high credit score.
Steps to apply for an instant credit card
Here are the steps that you must follow to apply for an instant credit card online:
- Visit the bank’s website and fill in the required details: You must submit the required information such as your mobile number, PAN card number, email ID, and PIN code by logging in to the bank’s website or mobile banking app.
- Choose your credit card: To choose the best credit card, you must consider your objective for getting a card. If you wish to save more on shopping and purchasing of consumer durables, for example, you can consider IndusInd Bank’s Platinum Aura Edge Visa/Master Credit Card. You can earn 2 reward points on every ₹100 spent on the purchase of consumer durables using this card.
- Complete your application via a video KYC process: Well-known banks offer a video KYC process to help customers conveniently apply for their credit cards online. As a customer, you benefit from this swift digital process.
Points to consider before applying for an instant credit card
Here are some considerations that you must make before choosing an instant credit card:
| Credit card feature that you must consider | Description |
| Interest rate and EMI tenure | A higher interest rate will make your credit card bills more expensive. You must opt for a bank that charges competitive interest rates on its credit cards. |
| Online accessibility | You must opt for an instant credit card that has a 100% digital application procedure and convenient online card management. |
| Ability to withdraw cash | You should be able to use your card to withdraw cash at any hour. |
| Joining and annual fees | Check the joining and annual fees for the credit card. You need not check this detail for a lifetime-free credit card. |
| Mobile banking services of the bank | The bank must also offer high-quality mobile banking services. |
| Reward points and other benefits | You should also assess the rewards offered by the card and other benefits such as contactless payments. |
In conclusion
To apply for an instant credit card, you need to download the bank’s mobile banking app, consider your objective for getting the card and accordingly choose one based on its rewards, and complete the video KYC process.
Before you click on the credit card apply button, you should consider the interest rate, tenure, and the online accessibility of the credit card. You must also assess the mobile banking services of the bank offering the card and analyse the rewards offered. Apply for an instant credit card today and benefit from a hassle-free application procedure!
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