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In 2019, the number of credit card users in India crossed 52 million. By March 2020, that number had already increased to nearly 58 million, according to the Reserve Bank of India. The increasing number … Read More
In 2019, the number of credit card users in India crossed 52 million. By March 2020, that number had already increased to nearly 58 million, according to the Reserve Bank of India.
The increasing number of credit card users in India can be attributed to several factors. Some experts theorize that the rising demand for credit cards can be due to millennials finding ways to ensure a high-end lifestyle with small salaries. Other industry-watchers note that Indians are becoming credit-savvier, and are consequently interested in signing up for credit cards because of all the benefits that they offer. Frequent flier miles and shopping discounts and privileges are cited as examples. A good case in point is RBL Bank’s offer of “cashback on Makemytrip” in the benefits tab, on its website’s credit card application section. On the subject of travel, credit card copies are also accepted as proof of financials for visa applications to some countries like Thailand, for example.
Perhaps you have also heard of the amazing deals that are extended to users of various credit cards, and would be happy to have these benefits. But you’re held back from finding out more because you have heard that banks only offer these benefits to potential customers who boast a high income. It is true that banks evaluate a person’s earnings potential before they open a world of credit to them. However, banks simply want to be sure that you will be able to pay back your debts, over a period of time.
Banks will usually offer different bundles of benefits, according to differing salary slabs of credit card applicants. However, if you are earning a basic income and that income is fixed and regular, you might not be in for any challenges in obtaining a credit card. For example, you can get an instant low salary RBL credit card, with Bajaj Finserv.
What are the criteria for applying for a Bajaj Finserv RBL Credit Card?
As long as you earn Rs. 25,000 per month, you are in the running, and stand a chance of obtaining a credit card.
However, there are other criteria that come into play. These include:
How can one go about applying for a low salary RBL credit card with Bajaj Finserv?
The process of applying for the Bajaj Finserv RBL Bank SuperCard is rather simple and straightforward.
Credit card companies will usually also check your debt-to-income ratio. It might be a good idea to curb your splurging in the months leading up to your application.
Some of the benefits that you can get when you choose the RBL credit card by Bajaj Finserv, known as the Bajaj Finserv RBL Bank SuperCard include:
A credit card will normally be delivered to your doorstep within 7 to 10 working days. In some cases, especially in the case of virtual applications, your evaluation process might be completed in a matter of a few hours, and you could receive your credentials within the same working day.