Tips to Apply for Credit Card Online

Tips to Apply for Credit Card Online

If you are already a credit card owner or planning to apply for one, the only thing standing between you and your new shiny plastic is the application process. It is the first step that one has to take when it comes to getting a new credit card. However, the best way to get a credit card fast is by filling in the application correctly. Filling in your application inaccurately will not only delay the process but also run the risk of it getting rejected.

So, if you are looking to apply for ICICI credit card online. Application process online is quite easy and only requires you to fill in your personal details. Just click the submit button and you are done. The respective bank will perform their due diligence based on the information you entered. But if you are looking for quick approval, you must follow these steps to help the lender expedite the process.

Keep all your documents ready

It cannot be stressed enough that your documents are the key to your new credit card. By keeping all your KYC documents ready, you can make the approval process quicker and more hassle free from the bank. You will need documents like your PAN card, ID card, address proof, income proof, etc. You can also get in touch with the credit card executives and request them to collect your documents on priority so that your credit card can be approved quickly.

Choose credit card companies that offer instant approval

People often look for credit cards that make their transactions easier and cheaper. But another important consideration when applying for a new credit card is to choose bank that offers instant approval. You can quickly check your eligibility by entering your financial and personal information. If your profile is suitable for the bank, they will give you an instant approval. Most banks these days have their own engines on their websites where a person can check their eligibility and get quick approval for a new credit card.

Maintain good credit history

Your credit score is the be-all-and-end-all of any kind of credit and not just a credit card. A good or a high credit score in the 700-800s is a must-have if you are applying for a new credit card. However, that doesn’t mean people with low score cannot get new credit cards. Its just that the process for them is much longer and the rates of interest are less friendly. But if you have a stellar credit report, you will be able to get a quick approval. The best way to maintain your credit score is by paying the full outstanding amount before the cut-off date. Avoid making minimum amount payments as it is the quickest way to make your credit spiral out of control and affect your credit rating.

Keep your credit utility ratio low

Another aspect that can severely impact your credit rating is the credit utility ratio. Simply put, credit utility ratio is the amount you owe with regards to your total credit limit. Not many people know this but at least 30% of your CIBIL score is decided on the basis of the amount you owe. So, if you have a credit card that has high unpaid balance, it can cause damage to your credit score tremendously. You can avoid that by using your credit card judiciously and only spending as much as you can pay in each cycle. When your credit utilization ratio is good, the credit card company will have no problem in extending their credit line to you. It is also a great way of getting a credit card approval from the bank.

Compare cards online before applying

If everything about your application looks good and you are all set to apply for the credit card, don’t forget to compare different cards before applying. You can use multiple online websites or tools to do a side-by-side comparison. You can assess which cards offer you the maximum benefit and for the best rate of interest. Use this information to make an informed choice about the card you eventually want to apply. If all your documents are ready, you have a stellar credit score, and a well-maintained credit utilization ratio, you should have no problem in getting a new credit card.

If managed the right way, credit cards actually make your life a lot easier. However, the trick is in choosing the one that suits your lifestyle. Therefore, you need to do some homework and use the tips discussed above before you apply for a credit card online. Once you choose your preferred credit card, don’t forget to check out the annual fees and charges before applying for it.

Leave a Comment