Here’s How to Apply for Credit Cards You’ve Had Before
As per reports, the credit card circulation in India stood at 48.9 million in May 2019. However, the number had undergone a massive surge raising the number of cards in circulation to a robust 51.7 million by August.
The strong growth in the numbers indicates that more individuals now prefer credit cards as a means to meet their financial requirements. In fact, a significant share of individuals, who had previously surrendered their credit cards are now willing to avail them back.
Notably, if an individual decides to avail a credit card online they had previously used, they need to avail the same process as an existing customer may have to follow to avail the credit card. A user availing such a card from the same financer they previously had the card with is considered as a new applicant although as an existing customer if he/she has any other existing relationship with the financer.
Regardless, based on the card issuer, applicants may be subjected to certain norms. Hence, to streamline the process better, it is vital to figure out the credit card apply online process and associated conditions beforehand.
Steps involved in the credit card apply online process
By following these simple steps, applicants can apply for their choice of credit card online successfully –
Step 1 – Visit the official online portal of your credit card issuer.
Step 2 – Find the credit cards option.
Step 3 – Look for the ‘Apply now’ option.
Step 4 – Provide the required information to fill up the application form.
Step 5 – Submit the required documents to facilitate the verification process.
Step 6 – Cross-check the details offered.
Step 7 – Submit the form.
Once these steps are completed, wait for the initiation of the verification process. Meanwhile, applicants can learn the different ways to check credit card application status to become more informed about the process.
Further, it will allow them to keep track of their credit card status effectively and will also enable them to streamline the process efficiently. Likewise, applicants may also find out the other ways to activate their credit card through customer care services.
However, before clicking on the ‘credit card apply online’ option, applicants should find out if the eligibility criteria for the card specific to the issuer first. Doing so can help reduce the chances of getting their application process rejected and also allow them to enhance their eligibility significantly.
Eligibility criteria
For example, Bajaj Finserv RBL Bank SuperCard has set out simple eligibility criteria for its applicants to meet. Basic eligibility criteria common among most card issuers include –
- Should be between the age of 25 years and 65 years.
- Must not be a defaulter.
- Should possess a CIBIL score of at least 750.
- Applicants should be an existing customer with their Bajaj card.
Once individuals have checked the card’s eligibility criteria, they should proceed to review the benefits and offers extended by it. For instance, leading NBFC Bajaj Finserv extends pre-approved offers to existing customers which make availing financial products quick and hassle-free. Such offers are available on numerous financial products including credit cards, personal loans, business loans, home loans, etc. Check your pre-approved offer online by sharing simple details like name and contact information.
Doing so, you will find out which offers and benefits are applicable in your case. In turn, it comes in handy to get the most of your credit card and plan your purchases smartly.
Regardless, intending applicants should also find out the norms and policies which they may be subjected to. For instance, certain credit card providers may not approve the application of individuals who had previously surrendered their cards.
Conversely, they may have to wait for a certain period before availing the credit card. Additionally, they may or may not be deemed eligible to avail exclusive offers and privileges.
In a nutshell, individuals who are applying for a credit card they used to have before need to follow the credit card apply online process which is mostly same for the first-time applicants. However, they will be considered as prior or even existing customers if they have other financial relations with the card issuer. Regardless, depending on their card issuer, they may or may not be subjected to specific terms and policies.