Documents Required for Credit Card Application

With the increase in lifestyle expenses and the necessity of instant funds, credit cards have become an essential tool and are the need of the hour. It has transformed the way of taking loans or credit and is popular among every category, whether students, self-employed, NRIs, or salaried professionals. Hence, with the increasing demand, financial institutions are bringing forward these cards with lucrative benefits and features.

So, if you want to apply for a credit card, there is a standard procedure that must be followed. You must fulfil the eligibility criteria and submit the documents required for a credit card. However, different documents must be submitted as per the type of credit card application. If you are wondering what documents are needed per your requirement, this blog will provide complete information and address your concern. Let's discuss eligibility, credit card factors for fulfilling the criteria, and credit card documents.

Eligibility to Apply for Credit Card:

The applicant must meet all the requirements of the banks else your application can be rejected.

The applicant must be in the age bracket of 18-65 years.
The minimum salary must be around Rs. 400,000
The credit score must be approximately 750.
The person should be either a self-employed or salaried employee.

Factors for Eligibility:

Age- Many banks in India prefer the age of 21 years for issuing credit cards and can go up to 60 to 65 years. However, the period is mentioned on the financial institution's website or bank.
Nationality- Nationality is a key factor in applying for a credit card. You must check with your bank for the same. However, many banks offer credit cards to residents, Indian citizens, and non-residents.
Salary- The annual income is another factor in deciding eligibility for a credit card. The annual salary must be around Rs. 400,000 and depends on bank to bank.

Factors affecting the eligibility for getting a credit card

Credit score- The credit score under 700 must be improved and may reduce the chances of getting your application approved. A score between 750 and 900 is good for getting the required approval.
Employment- Working in an organization for more than a year improves the chances of getting a credit card.
Existing debt- The bank evaluates your financial obligations like loans; if it exceeds the credit limit, your chances of getting a credit card are reduced.

Now, after getting information about eligibility and various factors that can affect credit card application, we are discussing the credit card documents required to apply for different kinds of credit cards. Moreover, you must also check with the current bank for the papers.

Documents Required for Resident Salaried Individuals to Apply for Credit Card

If you are a salaried employee, the credit card documents required for photocopies must be submitted to the bank. The financial institution will verify them with the originals.

Identity proof- The issuer may ask to submit any identity proof such as a PAN Card, Aadhaar card, voter ID card, driving license, and passport.
Address proof- You can submit any address proof including ration card, electricity bill, driving license, passport, telephone bill, Voter Id, and bank statement for the last two to three months.
Age proof- You must also submit age proof like a passport, Voter ID, 10th school certificate, or birth certificate.
Income proof- You can submit any of these with a credit card application, like form 16, IT returns, and the latest payslip.
Other documents required are form 60 and a PAN card.

Documents Required For Resident Self-employed Businessmen / Professionals to Apply For Credit Card

Just note down the documents required for credit card applications. You can submit them to your respective bank to get a credit card if you are a self -employed professional or businessman.

Identity proof- Any documents like a PAN card, Aadhaar card, passport, driving license, or Voter ID can be submitted.
Age proof- The bank asks to submit evidence of the required age. You can deposit any documents, including birth certificate, voter ID card, passport, and 10th school certificate.
Address proof- The insurer asks you to submit address proof to verify your contact details. You can deposit the documents like telephone bill, ration card, electricity bill, passport, driving license, and voter ID.
Income proof- You can submit as an IT return, business continuity proof, financial docs, and PAN card.

Documents Required for Students to Apply for Credit Card

The documents required for a student credit card are mentioned below:

Address proof- You can submit the documents, including passport, ration card, voter id, telephone bill, and driving license.
Identity proof- The following documents can be submitted to your bank PAN card, passport, Aadhaar card, driving license, and voter ID.
Enrolment proof- One of the essentialstudent credit card documents must be submitted for credit card application. The documents that can be deposited are an admission slip, college identity card, and certificate of studying from the respective college.
Age proof- You can select any of these as your age proof: birth certificate, voter ID card, 10th certificate, and passport.

Documents Required For Non-resident Indians (NRIs) to Apply For Credit Card

Documents required for credit card application are mainly three types if you are an NRI. These details are mentioned below:

Address proof- The bank requires two types of address proof: the address in India and abroad. So, for address in India, you can consider any of the following: driving license, title deeds of property, passport, lease deed, electricity bill, rental agreement, telephone bill, Voter ID, and bank statement. For submitting an address abroad, select any of the following: driving license, passport, overseas bank statement, company ID card, ID card issued by the government, appointment letter, utility bill, rent receipt, and lease agreement.
Identity proof- You can submit a driving license or passport.

Documents Required to Apply for Travel Credit Cards or Forex Cards

The credit card application documents are listed below:

Student travellers- You can submit your passport, form A2, passport-size photo, and admission or appointment letter from a university or college.
Self-employed/salaried travellers- The following documents can be submitted for getting a credit card passport, form A2, Visa, PAN card, and travel ticket.

FAQs on Documents Required for Credit Card Application

How can I get a Credit Card without salary slips?

You can get the credit card by submitting an appointment letter or requesting an add-on credit card from a family member. The credit card documents required are compulsory for getting the required approval.

What are the documents required for a Credit Card application?

The important documents to apply for a credit card are a PAN card, Aadhaar card, Passport, driving license, and Voter ID card. The bank verifies these documents before giving a credit card.

Which documents are acceptable to establish age proof?

The documents are Voter ID, 10th mark sheet, birth certificate, PAN card, and Aadhaar card. These documents are required to be submitted with a credit card application.

What documents are accepted for age proof?

Various documents like birth certificates, passports, Voter IDs, and 10th-class mark sheets can be submitted for verifying age.

Is it important to submit documents for applying for a credit card?

It is compulsory to submit documents like residential proof, income proof, and identity proof. These credit card application documents must be submitted so the bank can approve your application.

What to do if I don't have a passport (in case of NRI) at the time of verification?

In this scenario, you can deposit an appointment letter or driving license. Also, check with your bank or financial institution.

These are certain credit card documents that financial institutions require. The needs of the papers are different for different types of credit cards. However, you must check with your bank as the requirements may vary from bank to bank.

What is the minimum age to get a Credit Card in India?

The minimum age is 18 years to apply for a credit card in India. Also, you can check the same with your bank if you are a first time user of a credit card.

How do I know if I am eligible for a Credit Card?

You can check with your bank for the required details. Every bank has different criteria for eligibility and issuing a credit card.

Can I get a Credit Card without documents?

No, the documents required for a credit card are compulsory. The papers must be submitted while applying for a credit card online.

Is it compulsory to submit documents to get a Credit Card?

Yes, depositing documents while applying for a credit card is essential. You must submit the documents required for a credit card to ensure your application is accepted.

What is FATF?

The full form is a financial action task force for monitoring terrorist, money laundering, and proliferation funds. It aims to prevent illegal activities and prevent fraudulent financial transactions.