The North News
New Delhi, February 12
You can apply for a credit card without having to visit a branch. You can apply for credit cards online and avoid the time and hassle of tracking paper documents. All eligibility checks and document submissions can be done over a digital device whether it be your phone or your laptop.
Even credit card applicants are unsure of the application process or make mistakes that result in denial or taking longer to process. This guide will take you step by step in describing how to apply for a credit card online in order to avoid any surprises.
What you should check before you apply credit card online
Basic criteria like age, income, and credit history tend to apply to all credit card companies and you should check these things before doing the application to avoid getting rejection and damaging your eligibility for future applications.
Another important factor to consider before applying for a card is why you actually need one. For some it is for every day spending, online shopping, vacations, emergencies, or travel. This will help eliminate a lot of options when doing the credit card online application.
The process required to apply for a credit card online
Step 1: Selecting the type of credit card
Start by finding a card that works best for your spending abilities. Evaluate the card based on the usage type, limits, fees, and the repayment terms. It is best to avoid applying for multiple cards at the same time.
Step 2: Eligibility check
Most online applications have the eligibility criteria for all the cards laid out for you to see. This usually includes a certain age range, type of income, and type of employment. Make sure that your criteria match these details.
Step 3: Completing the application form
This includes personal details, contact number, address, and financial information. Make sure to double check all your details to ensure that they are correct. This will help avoid delays in your application due to errors.
Step 4: Submission of required documents
Most sites will require you to upload documents that include proof of identity, address, and income. Make sure your documents are readable and complete so that you can avoid problems later on.
Step 5: Completing the verification process
Most sites complete verification through a video call. This is to make sure that the information that have provided is correct.
Step 6: Application updates
After you submit your application, you can check the status online. Updates will typically be sent to you via texts or emails.
Step 7: Receiving your Credit Card
Once you have been approved for a credit card, the card will be mailed to the address you provided during your application. It will come with instructions on how to activate it.
Documents needed online application for credit card
Most online credit card applications are the same. They ask for proof of identity, address, and income. Those that are salaried may be asked for salary slips, but self-employed may be asked for income statements.
Having all the needed documents ready to apply for a credit card online will only make the process go even faster.
Mistakes to avoid when online applying for a credit card
The most frequent mistake is applying for a credit card for which the applicant does not qualify. Bad credit will certainly get the credit card application denied.
Another problem is that the applicant provides different information on the application than is included within the supporting documents.
Also, applying for a credit card while having a large number of applications in the system is a large risk.
When a person submits an application for a credit card they get a hit on their credit report and an excessive number of hits could lead to fewer credit card approvals.
Benefits of online application for credit card
There are many reasons why online applications for credit cards are favored. Online credit card applications are more convenient and you can complete it on your own time. Your documents can be compared and uploaded instantly, and applications can be monitored and followed up on without a hassle. There is less documentation and it is faster and more responsive than offline applications.
Credit card applications online are easy to do, but only when you know what to do. The most important things in this process are determining your eligibility, selecting your card, entering your details, and doing verification. To do an online application for a credit card, you need to have the right instructions and know what you want to do. If you do everything correctly, you will be able to finish your online credit card application without problems.
