Credit cards have emerged as a favorable mode of payment for Indians in recent times. The 27% growth in credit card circulation noted in 2019 suggests the same. India is primarily a debit card market, but this growth indicates a significant shift in this regard where Instant credit cards are playing a pivotal role.

What is an instant credit card?

There is no major difference between a conventional credit card and an instant credit card. Both of them offer the same features and benefits. However, a minor difference is the time required for them to get approved. You can apply for an instant credit card online and receive a quick reply from the company, often within an hour.

Once you apply for such cards online, the company runs a preliminary check based on the details you have provided in your application. Typically, a higher credit score often plays a vital role here. After credit card issuers are through with this process, they will issue a conditional approval and perform a more extensive check of your credit history.

Usually, companies determine your credit card eligibility based on your financial background. It consists of your previous credit usage, current income, financial liabilities, your age, etc. 

Points to make a convincing credit card application

Since getting a credit card of your choice with instant approval mostly depends on the application; thus, you can follow these points to make a wining application –

Mention your every source of income

Your total income plays an essential role in your instant credit card application. Financial companies may not approve your application, in case you fail to meet their desired criteria. 

Therefore, include your income from all sources in your credit card application. Apart from your fixed monthly earning, mention your returns from various investments and other sources like rent.

Reduce your financial liabilities

Financial liabilities can get in your way of securing a credit card. Before approving a card, companies perform a thorough check of your financial condition and assess your existing debts. 

If you have substantial financial liabilities, your credit card application can be rejected. Thus, reduce your debts as much as possible before applying for a credit card.

Choose a credit card as per your need

Apply for a credit card according to your requirements. For instance, if you are a frequent traveler, then it is ideal to opt for a travel credit card. You can avail additional benefits on flight ticket booking, hotel booking, etc. with such cards. If you apply for a product as per your requirement, you can get the most out of your credit card.

Perform a comprehensive market research

Market research is necessary when you are applying for a credit card. You will be more aware of the requirements of credit card companies; it will make your application more convincing, and your chances of securing a credit card increases.

Maintain a high credit score

A credit score sums up your entire financial situation in 3 digits. Thus, the higher your credit score, the better your chances of securing a credit card. With a credit score of 750 and above, you can opt for premium credit cards such as the Bajaj Finserv RBL Bank SuperCard. This card is loaded with features like an emergency loan against a credit card, interest-free ATM withdrawal for 50 days, and many more. 

Moreover, the company also provides pre-approved offers that make the credit application process smooth and less time-consuming. Apart from credit cards, this offer is also applicable to other financial products like business loans, personal loans, etc. You can check your pre-approved offers by providing your essential contact details.

Instant credit cards are like any other credit card and offer the same services. You can follow the pointers mentioned above to make a winning application to get your choice of a credit card with instant approval.