How to apply for a new credit card?
Posted on: 08/Jun/2017 2:22:05 PM
Banks issue credit cards. There are different types of credit cards with varied banks. As a customer, you have the freedom of choosing the kind of card you need.
Validity of credit cards usually come as 1 to 3 years or more.
- What is the procedure to apply for a new credit card?
- First, decide on the type of card you want to apply.
Banks will have credit card application form. You need to get it and fill the form and attach your photograph, and this has to be submitted.
Below are some of the identification documents to be submitted as proof or verification:
- Income proof
- Bank statement copy of previous 6 months
These documents can either be sent through an agent or you may send it through courier.
All the details shared shall be verified by the background verification team at the bank. Once the verification process gets over, you will receive the credit card within 3 or 4 weeks through courier to the correspondence address you have specified in your application. This card comes along with an instruction that it must be handed over only to the card applicant. Details about the credit limit come along with the card.
Once received, you should sign the backside of the credit card so that you ensure authentication of the card in case of lost or stolen scenarios.
Credit card application is rejected, why?
There are various circumstances under which your credit card application will get rejected. Below are some of the common ones:
- Your perhaps have not cleared any of your past loans or payments to bank
- You do not match the income criteria for getting a credit card
- If you were not reachable at the time of bank’s call or when the bank representative tried contacting you for verification
