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27 Feb 2017

How Does A Credit Card Application Process Work?


Nowadays, a lot of people using the credit card for their financial needs. It became a required part of our financial routine. Most of the people are thinking the credit card is more convenient than cash. Instead of carrying the money, the credit card is very easy to take. In case, you missed out the credit card at any situation no one will misuse your credit card without your PIN. Is it more safely than cash right?



There are types of modes are available to apply for the credit card. Banks have some credential to request a credit card.  


Apply for Credit Card - You can apply for the credit card at any of your bank branches in India, online banking or any promotional stalls. You need to fill the application form and submit along with some necessary documents like Voter ID, Pan card, Driving license, etc., Submitting your income proof is essential either you are salaried or self- employed.


Note: - You can also apply any head of the branches (For Example: - If you want to apply for credit card in Axis bank? You can directly go to the head office of  Axis bank branches and apply it.)


Verification Process - This is the essential step to getting a credit card. Once you have submitted your application form along with ID proof and Income proof then, the bank will verify all those details by visiting your home or through some agencies. But nowadays you will get a call from the customer care call center they will speak with you and verify your details.


Credit History Check - This is the most important step for the both bank and applicant. When you apply for a credit card, the bank will verify your employment history and income details which you have submitted. The bank will never forget to check your CIBIL score.


Application Evaluation - This is the master step for all the preceding steps. They will do the second checking process to ensure all the documents are correct and checking for the loopholes.


Issuing the Credit Card - Once all the steps are completed, your credit card will generate and directly mail to your address.


Those are the most common process that all the banks are following during credit card process.




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