A Step-by-step Guide To Applying For Your First Credit Card

Posted on Friday, August 4th, 2023 | By IndusInd Bank

We all know applying for your first credit card can be a confusing and overwhelming process, especially if you don’t know where to start and what to look for. In this blog, we will help you understand the basics of credit cards and the steps to apply for your first one. 

How to apply for your first credit card? 

To apply for your first credit card, you need to follow these steps: 

Step 1: Check your eligibility 

Before you apply for a credit card, you need to make sure that you meet the eligibility criteria set by the card issuer. The eligibility criteria may vary depending on the type of card and the issuer, but generally they include: 

• Age: You must be at least 18 years old to apply for a credit card in India. 

• Income: You must have a regular source of income that meets the minimum requirement of the card issuer. The income requirement may differ depending on the type of card and the issuer. 
• Credit score: You must have a good credit score that reflects your creditworthiness and repayment ability. Your credit score is based on your credit history, which includes your re-payment behavior, debt level, credit mix, and other factors.  

Step 2: Compare different cards 
 

You can compare different cards on various parameters such as annual fee, interest rate, reward rate, eligibility criteria, etc. Some of the factors that you should consider when comparing different cards are: 

• Annual fee 
  This is the amount that you have to pay every year to use the card. Some cards have no annual fee, while others may charge a high fee. You should weigh the benefits of the card against the cost of the annual fee and choose a card that offers you more value for money. 
• Interest rate 
  This is the percentage of interest that you have to pay on the balance that you carry over from one month to another. The interest rate may vary depending on the type of card, the issuer, and your credit score.  
• Reward rate 
  This is the percentage of rewards that you earn on your purchases. The reward rate may depend on the type of card, the issuer, and the category of spending. You should look for a card that has a high reward rate, especially for the categories that you spend the most on. 
• Other benefits 
  There are additional features and perks that come with the card, such as cashbacks, discounts, vouchers, lounge access, insurance coverage, etc. You should look for a card that has benefits that match your lifestyle needs and preferences. 

Why choose IndusInd Bank for your first credit card? 

IndusInd Bank offers a range of credit cards that cater to different needs and lifestyles of customers. Whether you are looking for a cashback card, a rewards card, a travel card, or a lifestyle card, you can find a credit card that suits you best at IndusInd Bank. 

Some of the benefits of choosing IndusInd Bank for your first credit card are: 

• Easy application process: You can apply for an IndusInd Bank credit card online with minimal documentation and hassle-free approval. 
  
• Attractive rewards program: You can earn reward points on every purchase that you make with your IndusInd Bank credit card. You can redeem your reward points for various products and services such as air miles, gift vouchers, cashbacks, etc. 

• Exclusive privileges: You can enjoy exclusive privileges such as discounts, offers, lounge access, insurance coverage, concierge service, etc. with your IndusInd Bank credit card. 
  
• Superior customer service: You can access 24×7 customer service from IndusInd Bank through the IndusInd Bank mobile app or website to manage your account, pay bills, check statements, etc. 

Conclusion 

Applying for your first credit card can be a simple and rewarding experience if you follow the steps mentioned above. And if you want a hassle-free application process to get a credit card, you can do so in 4 easy steps with IndusInd Bank. 

Apply Now 

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.