Credit Card Eligibility Criteria

Almost everyone wants to have a credit card with the most benefits, rewards, and features, but it can be challenging to get the credit card you want. This is because to have a credit card, you need to fulfill some particular eligibility criteria in terms of age, income, and credit score. It is really essential to be aware of the eligibility criteria of different credit cards so that you can choose the right card for which you are eligible. Those who blindly apply for credit cards and later get rejected also risk lowering their CIBIL score. We have come up with this article significantly to help you understand the eligibility criteria for getting credit cards from major card issuers. Go through the entire article to understand it well.

Factors Affecting Credit Card Eligibility Criteria

Age – For all the credit cards, there is a pre-specified minimum and maximum eligible age to get them. The minimum age is always 18 years or more than that, and the maximum age can vary according to card issuers.

Income – Income is another important criterion that you need to fulfill in order to get a credit card issued. All the banks/card issuers specify different income criteria for their cards. For salaried employees, there is a minimum required annual/monthly income, and for self-employed individuals, there is a minimum necessary ITR (Income Tax Return). If your annual income is less than the required income, there is a very high chance that your application will be rejected.

Credit History/Score – Your credit history or credit score always plays a huge role whenever you apply for a credit card or a loan. If you have a bad credit history or no credit history at all, you might not get a credit card of your choice. However, in such a case, you can always have a secured credit card to build/rebuild your credit score.

Bank/Issuer Wise Credit Card Eligibility Criteria

HDFC Bank

Being one of the most prominent credit card issuers in the market, HDFC Bank issues a number of credit cards in various categories, from very basic to super-premium. The eligibility criteria are also different for different credit cards, and it is:

• The minimum age required to have an HDFC Bank Credit Card is 21, and the maximum age can be up to 65.
• The income criteria for HDFC credit Cards vary widely. The minimum required annual income can be as low as Rs. 1.4 lakhs per annum for some cards and as high as Rs. 21 lakhs per annum for other premium cards.

American Express

American Express is among the well-known card issuers and card networks in India, and hence, it issues an array of credit cards in different categories. To be eligible for an American Express Credit Card, you must be 18 years or older. The income criteria are different for each AmEx credit card and need to be fulfilled strictly. For example, for the SmartEarn Credit Card, a minimum annual income of Rs. 4.5 lakh is required, and for some other cards, an income above Rs. 6 lakh is needed. Other than age and income, your credit score also matters a lot. You should be an Indian resident with a good credit history.

SBI Card

SBI Card, the credit card issuing company of the State Bank of India, is among the most popular credit card issuers in the country. It issues around 45+ credit cards, each of them having different features and different eligibility criteria. Following are some important points about eligibility criteria for SBI Credit Cards:

• The minimum age required to apply for an SBI Credit Card is 18 years for salaried employees and 21 years for self-employed individuals.
• The maximum age required to apply for an SBI Credit Card is 65 years for salaried people and 60 years for self-employed individuals.
• CIBIL of 760 or above.
• Your annual income should be Rs. 2 lakhs or more.

ICICI Bank

The ICICI Bank is also one of the major credit card issuers in India and is popular for its very fine banking and product services. The bank issues various credit cards, and each one has a different eligibility criterion. Below is a summary of the eligibility criteria for ICICI Bank Credit Cards:

• The age of applicants should be between 21 years and 65 years.
• The minimum income required to get an ICICI Bank Credit Card is Rs. 2.5 lakhs per annum.
• The bank also issues some secured credit cards with a minimum fixed deposit of Rs. 20,000.

Axis Bank

Axis Bank is among the popular credit issuers in the Indian market and issues many cards that are best suited for different categories. The eligibility criteria also vary according to the benefits & features of the card, but here is a summary of eligibility criteria for credit cards issued by Axis Bank:

• The minimum required age to apply for all Axis Bank Credit Cards is 18 years.
• The income criteria vary for all the bank’s credit cards. The minimum annual income to have an Axis Bank Credit card is Rs. 6 lakhs and more, and for some premium cards, it goes up to a minimum of Rs. 18 lakhs.

IndusInd Bank

The IndusInd Bank issues credit cards ranging from basic to super-premium. The bank has kept the requirements of all its customers in mind and has come up with different credit cards with different eligibility criteria. The following are the points you need to keep in mind before applying to an IndusInd Bank Credit Card:

• The age of applicants should lie between 21 years and 65 years.
•  The income criterion varies depending on the credit card.

YES Bank

YES Bank issues a wide range of credit cards, keeping the different needs of different customers in mind. There are some basic cards with basic benefits that can be issued to average-income individuals, and some super-premium cards are also there, which can be issued only to people having a high income. A summary of YES Bank credit card eligibility is as mentioned below:

• The age of an individual applying for a YES Bank credit card should be between 21 years to 60 years.
• The minimum monthly income for YES Bank credit cards goes from Rs. 25,000 to Rs. 4 lakhs per month.

Kotak Bank

Being one of the most famous card issuers in the Indian market, Kotak Bank also provides great products and services to its customers, including a wide range of credit cards. The eligibility criteria that you need to fulfill in order to get Kotak Bank credit cards are as follows:

• The primary cardholder’s age should be above 21, and the maximum age can be up to 75.
• The minimum annual income varies for each card. However, the minimum income required can go from as low as Rs. 4 lakhs per annum to as high as Rs. 24 lakhs per annum.

RBL Bank

RBL Bank also issues a number of basic and premium credit cards with different exciting features and benefits. However, like every other card issuer, RBL Bank also has pre-specified eligibility criteria that you need to fulfill in order to get a credit card from the bank. Following are some important points about the bank’s eligibility criteria:

• The minimum eligible age to get a credit card from RBL bank is 21 years and the maximum eligible age is 65 years.
• You should have a good credit score, preferably above 700-750 in order to have an RBL Bank Credit Card.

Standard Chartered Bank

The Standard Chartered Bank issues a number of credit cards targeting different customers. From travel to entertainment to fuel, the bank has kept all the requirements of its customers in mind and hence comes with an array of credit cards, from basic to premium. Following is a summary of eligibility criteria you will have to fulfill in order to get a credit card from the Standard Chartered Bank:

• The applicant’s age should not be less than 21 years and more than 65 years.
• You should have a stable source of income.

Bank of Baroda

Bank of Baroda issues an array of credit cards with different exclusive reward offers and benefits over different categories. The eligibility criteria vary according to cards, but here is a summary of eligibility criteria for BoB credit cards:

• The minimum eligible age to apply for a BoB credit card is 18 years (other than BoB Eterna Credit Card), and the maximum eligible age is 65 years.
• You should have an annual income of Rs. 3 lakhs or more.

Here are the detailed eligibility criteria for each issuer.

Credit Card Issuer	Eligibility Criteria
HDFC Bank	HDFC Bank Credit Card Eligibility Criteria
American Express	American Express Credit Card Eligibility Criteria
ICICI Bank	ICICI Bank Credit Card Eligibility Criteria
Axis Bank	Axis Bank Credit Card Eligibility Criteria
YES Bank	YES Bank Credit Card Eligibility Criteria
IndusInd Bank	IndusInd Bank Credit Card Eligibility Criteria
Standard Chartered Bank	Standard Chartered Bank Credit Card Eligibility Criteria
RBL Bank	RBL Bank Credit Card Eligibility Criteria
IDFC FIRST Bank	IDFC FIRST Bank Credit Card Eligibility Criteria
HSBC Bank	HSBC Bank Credit Card Eligibility Criteria
Bank of Baroda	Bank of Baroda Credit Card Eligibility Criteria
Punjab National Bank	PNB Credit Card Eligibility Criteria

Documents Required

Following are the documents you need to keep with you when applying for a credit card:

Identity Proof (Any One)

• Aadhaar Card
• Pan Card
• Driving Licence
• Voter Id
• Passport
• Any other ID approved by the Indian government.

Residential Proof (Any One)

• Aadhaar Card
• Passport
• Utility Bills
• Any other valid proof approved by the Indian government

Income Proof

• For Salaried Employees – Latest three months salary slip.
• For Self-Employed – Latest ITR.

Bottom Line

Before applying for any credit card, it is necessary to check for its eligibility criteria because your application might get rejected even with a good credit score if you do not fulfill the bank’s requirements for that particular card. So, to avoid such unnecessary hard inquiries on your credit profile, it is better to make sure that you are eligible for a particular card and then apply.