There are millions of credit card users in India who enjoy high credit limits and offers on them. Some of them are new users and some of them are using it for years. But there is a question in the mind of some impatient credit card appliers that how long does it take to get a credit card in India. Well, it totally depends on the eligibility criteria, Cibil Score, and documents you have submitted to the bank. If you fulfil all the eligibility criteria and a Cibil Score of 750 and above then you have a very good chance of getting a credit card quickly in India. Let’s explore the factors that determine your credit card application acceptance by the bank.
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Factors Determining Time Duration to Get a Credit Card in India
Here you can see the various factors that might be responsible for getting a credit card immediately after the submission of your Application.
There are some fixed eligibility criteria that every credit card issuer asks in India before issuing a credit card. If you fulfil all the criteria then you can get a credit card quickly.
- The age of the applicant must be at least 18 years and it might differ if you are applying for a lavish credit card.
- You must have a stable and high income to apply for the card.
- The applicant must be a citizen of India.
- Your minimum salary must be at least ₹15000 per month and it might differ from bank to bank.
- You must have valid income proof, identity proof, and address proof.
There are certain documents that have to be submitted at the time of applying for a credit card. You have to submit a copy of those documents and verify them with the original one. As soon as you fulfil all the eligibility criteria and verify your documents, you will get a credit card. You can see the documents below:-
- Identity Proof Documents:- PAN Card, Aadhar Card, Voter I.D. Card, Passport, Driving License. (Any One Document)
- Address Proof Documents:- Ration Card, Electricity Bill, Telephone Bill, Driving License, Passport, Voter I.D. Card, Last 2 Months Bank Statement. (Any One Document)
- Income Proof Documents:- Form 16, Latest Salary Slips, Income Tax Return Documents Income Tax Documents with Computed Income, Audited Financial Document, Business Continuity Proof. (Any One Document)
- Age Proof Documents:- Pass Certificate of 10th Standard, Passport, Birth Certificate, Voter I.D. Card. (Any One Document)
If you want to get a credit card quickly in India then you must have a minimum Cibil Score of 750 and above. The bank approves your application quickly and you can get a credit card in a couple of weeks delivered at your home. Usually, all the banks take a couple of weeks or a month to deliver your credit card because it takes time to get manufactured.
Number of Credit Cards You Are Using
It might take time to get a new credit card if you are already using multiple cards because the bank will first verify the usage and repayment history of the current credit cards and then issue a new one. So, make sure that you haven’t skipped any payment of your current credit cards in order to get fast approval for the new credit card.
Secured Credit Cards
These credit cards are the pre-approved cards that are issued against your fixed deposit with the bank. It doesn’t take too long to get a credit card because the documentation process is not lengthy and the eligibility criteria are not strict. Therefore, the fastest way to get a credit card in India is to apply for a secured credit card.
Now you know how long does it take to get a Credit Card in India. The exact time is not specified but it might take a couple of weeks to get your card delivered at home once it is approved by the bank. The approval may take time and it totally depends on your Cibil Score, Monthly Income, Documents Submitted, and other eligibility criteria. So, you can take a credit card in India quickly by fulfilling all the determining factors and enjoy its benefit, credit limit, and offers.