A credit card can help you meet liabilities without putting an immediate strain on your finances. However, only a select few of the consumers who apply for a credit card can end up having one approved. These cards, loaded with a pre-sanctioned limit, are available against stringent eligibility criteria.

Here are the factors, which are responsible for credit card approval or rejection –

Your credit rating

If your CIBIL score is above 750, most financial institutions will be happy to approve your credit card request. However, individuals with lower scores may find it difficult to avail such cards. In such a case, you would first need to build your credit profile before sending in an application.

Boost income

Ensure that your monthly income is equal to or higher than minimum requirements of your card issuing company. Even though the minimum requirement regarding income can differ, you must check the same to avoid chances of rejection.

Documentation
Assess the kind of documents you would need to submit alongside your application. Arrange these documents before proceeding with the other steps.

Avoid hard inquiries

Limit instances of hard inquiries on your credit profile by avoiding multiple loans or credit applications. This should prevent NBFCs from perceiving your profile as credit hungry.

Individuals who take care of these factors can avail quality cards, such as the Bajaj Finserv RBL Bank SuperCard. These products come with added benefits, such as accelerated savings. Also, once you are sure of these factors, check how to apply for a credit card to facilitate a convenient process.

You can apply for credit card through Bajaj Finserv loan app.