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Credit Card Apply – Enjoy A Stress Free Application Process With These Steps
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Credit cards are quite common these days and it is a service that is offered by most banks. Credit cards are essentially used to take out personal loans of a limited amount and then repay them back to the bank. For instance, one may buy a television set using their credit card. After a specified time, they have to repay the price of the TV along with the interest to the bank.
While credit cards are no doubt quite useful, applying for one may be quite confusing for some individuals. So, here is a look at some of the steps to help with credit card application.
Steps to follow to apply for credit cards
Before apply for a credit card, you must first choose the type of credit card that you are looking for. Each bank offers a wide variety of cards, each with its positives and negatives. Determine the kind of card which suits your need. The eligibility criteria for each card may be different along with the benefits offered by each. Similarly, the interest charged on the cards also tends to be different.
Next, you must fill out the form for the credit card application. Previously, you had to visit the bank in order to complete this step. However, now due to the internet, online credit card application is also a viable method of carrying out the same. Along with the application form, you must also provide your photograph.
You must provide a proof of income alongside your bank statement for the preceding six months from the time of the card application. This will help the bank judge whether you qualify for a credit card or not.
After the documents are submitted, the bank will perform a verification to check that all the data that you have provided is correct. Previously, an employee from the bank would drop by and personally perform the verification. However, now in case of online credit card application, the bank will merely call you and your reference contacts to perform the verification.
If you manage to clear the verification procedure, the bank will courier the credit card to you in a matter of 3 to 4 weeks from the date of the application. The courier will also include information regarding the deals you can avail using the card and also the credit limit. You cannot use the card to purchase items if you reach a certain credit limit in a month.
Following these steps will ensure that one easily gets hold of a credit card, which comes quite handy to make major purchases or in case of emergencies.
Author Bio:- Neha Sharma is a finance student who loves to write in her free time. She has spent considerable time researching about the EMI calculator and why is it important to calculate the EMI. Through her work, she provides valuable information on how to apply for a credit card.
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