How To Get Credit Card Without Income Proof?

Getting a credit card is a big decision that you can ever make in your life. Sometimes it is difficult to get a credit card in one go. You would require to meet certain eligibility criteria before applying for a card. They are:

1. The applicant must be above the age of 21 years.

2. The applicant must have a good credit score (750 or above).

3. The applicant must be an Indian citizen.

4. The applicant must be salaried or self-employed.

5. The applicant must have a stable source of income.

Income plays a vital role in your credit card application. As it will help you in successfully getting a credit card and the credit limit is also determined by it. However, if you are someone that wants to have a credit card but doesn’t have a sufficient level of income and would like to get a card without having to submit the income proof. Hereunder are some of the types of credit cards that you can avail of without income proof. Keep reading to kick start your research.

● Take a lifetime free credit card: There is a complete list of lifetime free credit cards which have no joining or renewal fees. They are ideal for the first credit card applicants and are easy to avail. For these credit cards, you need to meet the eligibility requirements like minimum age, Indian residency, etc.

● Take a secured credit card: You can take a secured credit card without income proof. For this, you need to maintain a fixed deposit with the bank for a required period of time in order to become eligible to get a secured credit card. Apart from this, you must meet the minimum age requirement and Indian nationality.

● Take an add-on credit card: If anyone in your family has a credit card then you can request them to get you an add-on credit card. The eligibility requirement for this type of credit card is that you must be above the age of 18 years. You need to submit any income proof to get this credit card.

● Take a credit card against your savings account: There are some banks that provide your credit card against your savings account. On depositing a certain amount in your account the first time when you open a savings account and maintain the same balance for more than 2-3 months the bank offers you a credit card.

Bottom Line:

To conclude, first-time credit card users who have a low income can easily get the above-mentioned types of credit cards. Getting a credit card is as difficult as maintaining it. You need to adhere to the repayment cycles and maintain a low credit utilization ratio in order to enjoy the benefits of a credit card. Using a credit card wisely is the only key to building a good standing account. Once you start earning a good income then you can upgrade your credit card from the basics to a decent one that offers you more benefits and features.

Additional Reading -Factors To Consider When Comparing Credit Cards