Credit cards were a matter of luxury when launched. However, nowadays, credit cards are considered a necessity by young professionals. A credit card is a financial tool that enables you to take a pre-approved short-term loan and repay them in easy instalments. To get a credit card, you can either apply for it online or visit a card provider’s branch.
How to apply for a credit card online?
Thanks to technological advancements, you can securely apply for an instant credit card online through your laptop or smartphone. The one thing that gives the online process an edge is the fact that it’s fast. Not only is it paperless and hassle-free, you can also get a lifetime-free credit card without visiting the bank physically. Here are the steps involved in applying for a credit card online:
- Selecting the card provider
Merely selecting a credit card is not enough. You must choose the best features, interest rates, discounts, and reward points. Different banks have different offers for attracting their customers. For example, credit cards offered by IDFC FIRST Bank are known for providing various benefits like low-interest rates, travel benefits like access to the airport lounge, rewards on every card spend, and attractive discounts on numerous brands and merchants.
- Apply for a card
Once you have chosen the bank, visit the website and head to the online application section. On the application form, you need to provide personal details. Enter details such as your name, age, and residential address. After filling in the details, hit the submit button.
- Submit the documents
The information you submit determines whether your credit card application will be accepted, so ensure to keep all the required documents handy. Some examples of valid documents to be submitted are an Aadhaar card, driving license, PAN card, and passport.
- Complete the KYC process
KYC (Know-Your-Customer) is an RBI-mandated process. The bank or the financial institution will verify your identity through this step. To do so, the bank will check the information provided by you. Some banks, like IDFC FIRST Bank, offer video KYC for convenient onboarding.
- Activating the credit card
Once the KYC process is complete, the card provider will mail the credit card to your registered address. After receiving the card, you can log into your credit card account to activate it and set up a security PIN. Every time you transact using your credit card, you have to enter your security PIN.
You can easily apply for credit cards online. However, you should research your options online before applying and choose the one that matches your financial needs. There are several banks that offer credit cards based on the type of transaction you make, so understand your expenses trend and choose a card accordingly.