Applying for a credit card online is faster and convenient

Applying for a credit card online is faster and convenient

by Ankit Sharma

Plastic card i.e. the credit card has brought a great change in people’s life. For many of us credit card has made traveling, shopping and paying for services easy. In fact the credit card has completely changed the way of thinking and the lifestyle of the people. More and more people especially today’s generation prefer carrying credit card than cash.

The basic method to get credit card is to go to the bank and fill up the form manually. To make it easy for their customers and to meet the demand most of the banks have set up online applications format for credit card and other banking products. Use of internet in banking industry has made the process of getting a credit card faster and more convenient.

To motivate customers to apply online for credit card, banks are offering low interest rates on balance transfer, then giving discounts on various services attached to the credit cards and even giving reward points also.

Basically online credit card applications are similar to actual paper work. The basic requirements are same. Before starting to fill up an online application you must have all the needed information ready with you. To apply for a credit card whether online or manually, the minimum age requirement is the same, 18 years old. Though some of the banks have raised the minimum age up to 21 years old. For some cards like student credit card, cards are issued to the students only when their parents have signed as guardians in the application form.

The next important requirement for applying the card is citizenship. For example you must be an Indian citizen or a permanent resident for applying a credit card. However you will be able to use the credit card across the country and overseas. Then you must have a permanent address. Banks use this address to establish the identity of the applicant and your credit card statements and other communications are sent on this address.

Then you have to fill in the information about your employment, income, email id and the bank account number. While filling up your personal details especially the account number make sure with the bank that the website is fully secure.

Most of the credit card issuing companies and banks are checking the credit score of the applicants because of the increase in the number of defaulters. Most of the people take loan or get credit cards but do not repay loan amount or the credit card charges.

An online credit card application is usually processed quickly. The processing speed depends on how fast the applicant fills out the form and the appropriateness of the information provided in the application. If bank find anything doubtful in your information then the processing gets delayed unless the doubt is cleared.