Just like any other credit card, BOB or Bank Of Baroda also has some base obligations which an applicant has to meet to get a card from them. Being aware of eligibility criteria, you need to ensure that the credit card you like matches well with your profile. Now, since every credit card has different eligibility criteria established for themselves, we can look into the very basic and average criteria set to get an entry-level credit card like BOB Prime Credit Card.
Initially, there are just three main points, to begin with, which are age, salary or income, and employment status. These being the basics of eligibility criteria, the salary or income criteria are pretty flexible.
Starting from Age, you have to be of the legal age of 18 where you can be considered as an adult to hold a credit card, this being the minimum age. Whereas after the age of 65 is the limit, this means that after this age, it will quite not possible to get a credit card issued under your name.
Employment status comes next, the person applying for a credit card either should either be self-employed or a salaried individual. This is important to show that you have an earning source and can pay back the credit back to the bank in time.
Moving towards the salary or income part, the minimum salary of an employee can start from Rs. 3,00,000 yearly and there is no maximum limit. The income of a self-employed person should have a paid-up capital of around Rs. 25 Lakhs or above. As stated earlier the income criteria can be flexible and can differ depending on the type of card itself.
Eligibility is something without which you cannot even think about getting a credit card. In case you wish to get a credit card by BOB, you need to fulfill these criteria. Mostly the confusion arises when it comes to earning, in case you are not earning somewhere near the eligibility criteria of a particular credit card, you might be eligible for some other credit card if you earn more than Rs. 3 Lakhs yearly. It is not wrong to say that your salary determines the type of credit card you can get and the options you will be provided by the bank also depend on the same. But again, just being eligible for a credit card does not make it the best fit for you.