Credit cards can be great for streamlining your finances. Features such as tracking expenses and regular repayment impart financial discipline. If you plan to get a credit card, apply online. The reason being a credit card apply online initiative has some distinctive benefits to offer.
Benefits of Applying for Credit Cards Online
Here are some of the major benefits of applying for a credit card online:
Select Your Credit Card/Easy Comparison
When you apply for a credit card online, choose a card as per your interest categories. These can be food, shopping and travel, among many other categories. Apps like One Card give 5x rewards for your top spending categories. Choose your credit card wisely.
Nominal Documentation
The online credit card application requires minimal documentation, and you need to share some basic details like Aadhaar, PAN, name, and phone number to verify your eligibility. Keep your income proof, payslips, and bank account statements ready.
Most lenders entertain new credit card applications. They see everyone as a prospective customer, even if the individual does not happen to be an existing one. Fill up your basic details by clicking on the credit cards page. Make your KYC submission to complete the application. Existing customers can directly apply for a credit card after choosing one that fits their requirements.
Instant Approval of Your Card
After the documentation and KYC verification, you will get instant approval for your credit card. The approval time depends upon your eligibility, credit card type, and the lender’s service.
Access to a Virtual Credit Card After KYC Verification
After the KYC verification, you will receive your virtual card. You can access different offers through your credit card. This virtual card remains active until you receive your physical card.
Check the Application Status Online
Many lenders offer online application status portals to check the status of your application. If you have an online account with your lender, you can log in to the portal to check your application status.
Online Payment Facility
You can pay your credit card bills through multiple online payment facilities as an instant payment. Some apps like One Card allow you to manage your EMIs without any documentation, emails, or phone calls.
Access to Pre-Approved Cards
Sometimes you will get pre-approved credit cards based on your eligibility criteria, depending on your income, employment type, and credit score. Lenders offer a pre-approved credit card if you have a good credit score (750 and above).
A high and stable income helps a lot in this matter. If you are someone from a highly reputable company, you would be eligible for pre-approved cards.
Conclusion
These are the benefits of applying for a credit card online. You can enjoy the convenience of this process and apply for a payment card from the comfort of your home.