How to improve my Credit Card eligibility

If you have never applied for or owned a Credit Card before and are wondering how to get one, read on to understand Credit Card eligibility criteria.

What do banks consider before issuing a Credit Card?

Factors that influence Credit Card eligibility are:

  • Age: You must be at least 21 years of age
  • Income: You must have a regular source of income, whether you are salaried or self-employed
  • Bank account: You must have a savings account in your name
  • Credit-worthiness: You should have a good credit history. No defaults on loans or credit repayments. Your credit-worthiness is often checked through your CIBIL credit score – so make sure your credit score is good.

These are the Credit Card eligibility criteria for basic cards. Premium or co-branded cards may have different criteria, including higher income requirements, better credit score and a long-standing relationship with the bank.

To know how to choose the right Credit Card, click here.

How to improve my Credit Card eligibility?

One of the best ways to improve your Credit Card eligibility is to improve your credit score. Here are some tips to do that.

  • Pay off your debts (loans, etc) on time. Late payments reflect poorly on your credit score. If you have defaulted on any loan, make sure you settle it and clean up your record
  • Check and correct any inaccuracies in the credit report: Sometimes, a loan that you have paid may be shown as outstanding in your credit report, weighing down your score. Check your credit report carefully and get any inaccuracies immediately corrected.

One of the easiest ways to get a HDFC Bank Credit Card is to apply to your existing bank. If you are starting out on your career or profession, begin with a regular Credit Card, use it prudently, and work your way up to more premium cards. That way you will build up a better credit history and score and be able to get loans and credit more easily in the future.

Looking to apply for an HDFC Bank Credit Card? Click here to get started.

* Terms & conditions apply. Credit Card approvals are at sole discretion of HDFC Bank Ltd