In this article we will tell you about Credit Card Eligibility. Here’s the complete detail.
Credit card refers to the term which facilitates an individual for purchasing goods at point of sale. It implies that, the credit card is enforced and implemented only for bank customers and their requirements. Only banks and few financial institutions have an authority to issue a credit card.
Holders can use this card at the time of purchasing and giving payment to others. It makes life easier for individuals. Another reason for getting a credit card is that, individuals are not required to carry a large amount of cash because they can use credit card for their convenience and safety.
Well, arriving back to the point, Let’s explain an eligibility for Credit Card. Now, we compare among india’s top most banks for getting eligibility criteria of different banks:
ICICI Bank is one of the most popular banks of India. ICICI bank offers their credit card to their customer on various criterias. It implies that, ICICI bank has various type of credit cards and it offers to their customers according to their requirements.
Their various Credit cards are, such as, gold , platinum, big bazar card and etc, used by several holders. For example: if an applicant wants a credit card for a short period of time with a low interest rate, then he can apply for ICICI “Instant credit card”
Instant credit card is applied for Fixed Deposit, which means, only that person is required for this credit card, who has a Fixed Deposit account in ICICI bank. This Fixed Deposit account opens with a balance of only Rs. 20,000. In Instant credit card, ICICI bank offers a lower rate of interest (approx 2.49% per month) as compared to other credit cards.
On the other hand, ICICI Bank has five more credit cards, namely, Titanium, platinum, Signature credit card, Big bazaar credit card and HDSL credit card. Only those people, who get a salary of Rs. 2,40,000 per annum, are required for getting a HDSL credit card and the same case applies for getting a Big Bazaar credit card.
On the other hand, only those people can get a Titanium credit card, whose salary is Rs. 4,80,000 per annum(salaried employed person) and whose salary is Rs. 4,80,000 per annum (self employed person)(The same case is also applied in Platinum credit card). In second case, If an individual wants to get a Signature credit card, then he requires to have a salary of at least Rs 12,00000 per annum (for both salaried and non salaried individual).
HDFC bank is also one of the most prestigious banks of India. It has also different types of credit cards and it offers to their customers according to its requirements. HDFC bank has six types of credit cards, namely, a HDFC Bank Silver Credit Card, HDFC Bank Value Plus Credit Card, HDFC Bank International Health Plus Credit Card, HDFC Bank Gold Credit Card, HDFC Bank Woman’s Gold credit card and HDFC Bank Platinum Plus Credit card.
On the other hand, only those individuals get these cards, who earn upto Rs. 200000 per annum (for salary employed persons) and earn upto Rs. 1,50,000 per annum (for self employed persons).
Axis Bank is also one of the most prestigious banks of India. It also has different types of credit cards and it offers to their customers according to its requirements. In Axis Bank, the age criteria is 18-70 years, which means only those people are applicable, who fall in that age criteria. On the other hand, If an individual wants to get all these credit cards of Axis Bank, then he must be required for an amount of salary is Rs. 120,000 to 1,80,000 per annum.
City Bank is also one of the most popular banks of India. It also has various types of credit cards which it offers to its customers according to their requirements. In Axis Bank, the age criteria 21-70 years, which means only those people are applicable, who fall in that age criteria. On the other hand, If an individual wants to acquire all City Bank credit cards, then he is required to have an annual salary of Rs.1,80,000 per annum.
SBI is an abbreviation of State Bank of India (SBI) and it is an another bank, who facilitate their credit card service to their customers. SBI has also various types of credit cards, such as, Gold SBI Credit Card, Silver SBI card, and SBI platinum credit card. Therefore, it offers to customers according to their requirements. In SBI, individuals are required to get income upto Rs. 65,000-75,000 per annum (kindly verify the rate with SBI before applying). SBI offers a limit for daily withdrawal as Rs. 10,000.