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Improve your Chances of Getting a Credit Card

Getting a credit card is a seemingly uncomplicated process in India. However, at times, an applicant faced rejection. There are many reasons behind this, including a poor credit score. If you have faced difficulties in getting a credit card, take a look at this article to know how you can improve your chances of getting one when you apply again.

Factors that affect your credit card approval

  • Credit score - This is a very easy point to understand and it is quite obvious too - a person with a good credit score gets a credit card with ease. If you have a good credit score, every bank will offer you the credit card you want. However, if you have a poor credit score, you will find it more difficult to get the card of your choice.
  • Income - The income of the applicant also plays an important role here. You need to have a certain income and only then can you apply for a credit card. Someone who earns just about Rs 5000 a month may not be eligible for a credit card. Speak to your bank and see what the income eligibility criterion is and then make a suitable application.
  • Age - Anyone who is above the age of 21 can get a credit card in India. However, the credit cards are generally given to younger people who can pay the dues off with their steady incomes. A retired person may at times find it difficult to get a card of his choice for this very reason.

Make sure you have correct figures to show when you apply for a credit card. Take corrective measures if you falter and then apply properly to ensure you get the credit card with ease.

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