Almost everyone wants to have a credit card with the most benefits and features, but it is not always very easy to get the credit card you want. It is because to have a credit card, you need to fulfill some particular eligibility criteria in the terms of age, in the terms of income, and in the terms of credit score as well. 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. We have come up with this article especially to help you understand the eligibility criteria to get credit cards from the major card issuers. Go through the full article to understand it well.
Factors Affecting Credit Card Eligibility Criteria
Age – For all the credit cards, there is a pre-specified minimum as well 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 most 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 required ITR. If your annual income is less than the required income, there are very high chances that your application will directly get 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/re-build your credit score.
Credit Card Eligibility Criteria – Bank Wise
Being one of the most prominent credit card issuers in the market, HDFC Bank issues a number of credit cards from very basic to super-premium categories. The eligibility criteria are also different for different credit cards and it is:
- The minimum required age to have an HDFC Bank Credit Card is 21 years and the maximum age can go up to 65 years.
- The income criteria for HDFC credit Cards vary a lot as the minimum required annual income can be as low as Rs. 1.4 lakhs per annum for some cards and also as high as Rs. 21 lakhs per annum for other premium cards.
American Express is among well-known card issuers and card networks in India and hence issues an array of credit cards in different categories. To be eligible for an American Express Credit Card, your age should be 18 years or more. The income criteria are different for each AmEx credit card and need to be fulfilled strictly. 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, 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 71 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.
- Your annual income should be Rs. 2 lakhs or more.
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 of them 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 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 of credit cards issued by the Axis Bank:
- The minimum required age to apply for all the Axis Bank Credit Cards is 18 years.
- The income criteria vary for all the credit cards issued by the bank. 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.
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. 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 issues a wide range of credit cards keeping 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 cards 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.
Citibank is among the popular credit card issuers in the country and issues various credit cards with benefits over different categories, such as travel, movies, reward programs, etc. To be eligible for a Citibank Credit Card, your age should be between 23 years and 65 years, and you should have a good credit history and score. The income criteria differ from card to card.
Being one of the famous card issuers in the Indian market, Kotak Bank is also providing 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 age of the primary cardholder should be above 21 years and the maximum age can go up to 75 years.
- 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 also issues a number of basic as well as 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.
Following are the documents you need to keep with you when applying for a credit card:
Identity Proof (any of the following)
- Aadhar Card
- Pan Card
- Driving Licence
- Voter Id
- Any other Id approved by the Indian government.
Residential Proof (any of the following)
- Aadhar Card
- Utility Bills
- Any other valid proof approved by the Indian government
- For Salaried Employees – Latest 3 months salary slip.
- For self-employed people – Latest ITR.
|Credit Card Issuer||Eligibility Criteria|
|HDFC Bank||HDFC Bank Credit Card Eligibility Criteria|
|American Express||American Express Credit Card Eligibility Criteria|
|SBI Card||SBI 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|
|Citi Bank||Citi Bank Credit Card Eligibility Criteria|
|RBL Bank||RBL Bank Credit Card Eligibility Criteria|
|IDFC FIRST Bank||IDFC FIRST Bank Credit Card Eligibility Criteria|
|Kotak Mahindra Bank||Kotak Mahindra Bank Credit Card Eligibility Criteria|
|HSBC Bank||HSBC Bank Credit Card Eligibility Criteria|
|Bank of Baroda||Bank of Baroda Credit Card Eligibility Criteria|
|IDBI Bank||IDBI Bank Credit Card Eligibility Criteria|
|Punjab National Bank||PNB Credit Card Eligibility Criteria|
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, better is to make sure that you are eligible for a particular card and then apply.