Keep These Factors in Mind Before Applying for a Credit Card Online

The most convenient payment method is a credit card because there are no geographical or temporal restrictions when you can buy something, and cash may not be necessary. These tools will be helpful when unforeseen costs occur. It can be when you need to pay for medical services or the account balance is below zero. 

An Overview of the Factors 

A credit card has found massive acceptance at this time, especially among the youth who’ve just started their career. A credit card allows them to get what they want, but they don’t need to pay the entire amount in one shot. It gives them the space to split that amount into various payment schedules. 

With IDFC FIRST Bank, which offers one of the best credit card in India, you will be able to enjoy several added benefits. The key points to consider before applying are detailed below. 

Minimum Age

The application for credit cards should start when one turns 18 years old. Before the age of 18, nobody is allowed to use credit cards by any means. A minor or an individual is not eligible even if they have a student account in any bank.


In India, it is mandatory to be an Indian or a Non-resident Indian to be eligible for an accruing credit card. Except for these two options, you can’t get a bank credit card from an Indian-based bank in India.

Credit Score

A CIBIL score defines a credit score. The credit score of CIBIL is a three-digit number that falls in the domain of 300 to 900, and both figures disclose your creditworthiness. You can get an improved card and loan terms with only quick approval if you have a good score. To apply for a credit card, you should score 750 or more on completion.

Credit Utilization Ratio

The credit consumption ratio is the multiplication of the current amount you use regarding revolving loans alongside total unoccupied credit sums. It is calculated in percentage. The credit utilization ratio is one of the instruments lenders rely on during assessment to check your current ability to manage debts. 

In general, you more or less need to keep the credit utilization percentage below thirty percent. However, a failure to earn an above-average score will negatively impact your credit score. 

Credit History Length

Your credit score is always in danger because you will likely affect your performance even after a long stretch of not using your credit card and planning to cancel it off the market.

Monthly Income

Though there is no particular parameter about the monthly income required to be eligible to apply for a credit card, a steady income receipt brings a credit card applicant to the safe side. One important consideration while choosing a credit card is salary. 

The preferred employment details required for an IDFC FIRST Bank include cases where the applicant is employed or self-employed and possesses a continuous salary. Nevertheless, you need to show that they are indeed identical.

A credit offers various benefits. Some banks even provide a lounge access credit card to enhance travel comfort. You can apply for one and get approval through a few simple steps. You can confidently browse the unsecured lending market with a few simple steps and enjoy a safe and easy online borrowing process.

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